Monterey is one of the sectional title blocks in Yeoville with exceptional potential. A sound opportunity not to be missed.
This is a spacious 91m2 apartment that has two-bedrooms, lounge(enclosed and can be used as a bedroom), kitchen, separate bathroom and sperate toilet.
The total rental income that can be achieved is R 6 300-00 pm.
Calculation:
Purchase with Bond (90%):
R 250 000.00 Bond at 90 %
=R 2 438.00 pm.
Monthly Levy
=R 1 151.27 pm.
Rental Management fee (if applicable)
=R 725.50 pm.
Total
=R 5 314.77 pm.
R 6 300.00 rental income - R 5 314.77 expenses
=R 985.23 Cashflow positive.
Purchase with Cash:
Monthly Levy
=R 1 151.27 pm.
Rental Management fee (if applicable)
=R 725.50 pm.
Total
=R 1 876.77 pm.
R 6 300.00 rental income – R 1 876.77 expenses
=R 4 423.32 Cashflow positive
Gross Yield: 30% at R 6 300.00 rental income
