308 5th Ave East, Watrous, SK

Posted by Andrew Slater on Tuesday, April 28th, 2020 at 6:45am.

Great Investment Property!

308 5th Ave East, Watrous, Saskatchewan.

 

A 4 bedroom house for $15,000!?!?  Too good to be true?  sort of. 

This 862 square foot, four-bedroom house on a 50’ x 140’ foot lot in Watrous, Saskatchewan is listed at $15,000.  Is it a little” rough around the edges”  Oh yeah. This foreclosed property would make a great investment.

There was an empty lot that sold in Watrous last year that was also 50 ft x 140 ft  and it sold for $12,500.

 Could you rent out a 4 bedroom house with a huge yard in Watrous for $600 a month?  Sure you could! $600 a month rent brings in $7,200 a year. Taxes on this property are $2,416 a year, let’s add on $1,200 a year for maintenance, your costs are about $3,600 a year, that means your clearing $4,000 a year, that’s a 26.6% return on your investment in the first year!

The furnace was new in 2016, the water heater looks newer, shingles look good and the windows are fine. Your maintenance bill might not come anywhere near $1,200 a year

 

Check out the listing details here

How to purchase a foreclosures?

List of foreclosures is Saskatchewan.

 

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