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11436 87 St
11436 – 87 St Rent to Own or Sale $279,900
This newly renovated house is complete with 2 bedrooms and 1 bathroom with new tile floor, new bathtub, toilet, and vanity with mirror. New laminate floors throughout the home, new white kitchen cabinets and doors. Brand new high efficiency hot water tank and High efficiency Furnace. The basement is semi finished with separate entrance. The basement is designed and framed in for 1 large bedroom with 4 piece bathroom roughed in, full kitchen and living room. Perfect potential to turn the basement into an extra suite and get extra income on the property to pay your mortgage. Includes single oversized detached garage. This home is nestled in the quiet mature neighbourhood of Parkdale. 2 new neighbouring houses, and a few more new houses have been built in the area recently. Close to Bus stop, Schools, Sport and rec centre, grocery stores and strip mall. Just a few blocks from the LRT station and a short walk to the Stadium to watch football games, soccer matches, concerts and other live events!
Available for Purchase or Rent to Own.
Requirements for Rent to Own
RTO 6 months sale price is $279,900 house value increase $8,400 based on 3% increase per year Housing market (1.5% for 6 months $4200) Final sale price in 6 months $284,100
5% down of 284,100 = $14,205
$10,000 down payment (This goes towards you paying down the house immediately)
Rent per month is $1695, Option per month $500. Total cost per month is $2195
The $500 option gets put towards your down payment on the house, after 6 months you will have invested $3,000 in the down payment for a total of $13,000.
At this time you will have to exercise your option to purchase the house, and you will require an additional $1,205 to complete the 5% down payment on the mortgage.
We offer a maximum time of 6 months on Rent to Own. This should give you enough time to qualify for mortgage on the property.
Or you can purchase now, save on rental and option fees, as well have a reduced price of $4200 that you would pay 6 months from now on a rent to own. Look at the photo above to see the mortgage breakdown given to us from our broker.