Wednesday, December 7, 2011

Condos That Pay for Themselves

Pinnacle Pointe Condos at Quail Ridge

Eg. ****-1873 Country Club Drive, Kelowna, BC

List Price $279,900
Down Pmt 79,900

Mtg $200,000 @ 4.09% 5 yr term 25 yr/amortization
Projected income from Rentals
Sept-Apr.Monthly rental (no vacancy)                $13,600
May-Aug Short Term rentals (less 50% vacancy) 13,500
(Weekly rates used in Calculation)                        25,600

Less 25% management fee                                     6,775
Net Income                                                        $20,325

Projected Expenses
$200,000 mtg @ $1062/mo.                           $12,750 Yr
Taxes                                                                  1,900 Yr
Strata (condo) fees                                              2,880 Yr
                                                                       $17,500 Yr

Positive cash flow                                              $2,825 Yr
Return on down payment                                        3.54%

Monthly rental has no vacancy since it is located near UBCO and demand outstrips supply. Short term rental is net of 50% vacancy and all rentals net of 25% management fee.


*2315-1873 Country Club Drive Listed at $269,900 is a 2 bedroom 2 bath  970 sq ft  2nd floor unit, popular Juniper plan where 2 students could share.

*1306-1875 Country Club Drive Listed at $295,000 is a 2 bedroom, 2 bath unit  plus den ,1166 sq ft  3rd floor unit where 2 students could share

*2411 -1873 Country Club Drive listed at $218,900 is a 1 bedroom, 1 bathroom plus den, 774 sq ft  3rd floor unit

NOTE: The selection is changing as properties sell. For a complete current  list please call Bert at 250-212-7728 or email

Prepared from sources believed to be reliable, but not guaranteed. E & O.E.

Bert Chapman Premier Canadian Properties #102-1180 Sunset Drive Kelowna, BC V1Y 9W6 Office 250-717-1886 Toll Free 877-717-1886 Fax 250-717-1889 Direct 250-212-7728 email: Website:

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