+20 Photos
+18 Photos
Algarve is one of the sectional title blocks in Hillbrow with exceptional potential. A sound opportunity not to be missed.
This is a spacious 83m2 apartment that has two bedrooms, lounge, kitchen with a bathroom and separated toilet. There is also an open balcony.
The apartment is newly renovated and in a good condition, perfect for first time buyers who would like to rent the apartment out at a later stage for investment purposes. The unit is currently tenanted, and the rental income achieved is R 5 500-00.
Calculation:
Purchase with Bond (90%):
R 275 000.00 Bond at 90 %
=R 2 677.00 pm.
Monthly Levy
=R 1 383.12 pm.
Rental Management fee (if applicable) =R 632.50 pm.
Total
=R 4 692.62 pm.
R 5 500.00 rental income - R 4 692.62 expenses
= R 807.38 Cashflow positive.
Purchase with Cash:
Monthly Levy
=R 1 383.12 pm.
Rental Management fee (if applicable)
=R 632.50 pm.
Total
=R 2 015.62 pm.
R 5 500.00 rental income – R 2 015.62 expenses
=R 3 484.38 Cashflow positive.
Gross Yield: 24% at R 5 500.00 rental income
