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Dundas Square Gardens: Condo Investment Analysis

Notes on Dundas Square Gardens: Condo Investment Analysis

Hi, it’s Andrew la Fleur with Remax Condos Plus and True Condos.com. I’m a real estate agent and what I do is I help people make money investing in the Toronto condo market so if that’s what you want to do, you’ve come to the right place.

Today I’m just doing a short video but I wanted to talk to you about Dundas Square Gardens just for a minute. Dundas Square Gardens is getting a huge amount of buzz right now with condo investors so I wanted to ask the question, is this building right for you?

Let’s just do a quick investment analysis on Dundas Square Gardens and let’s see exactly why, what I call value investors, are so excited about Dundas Square Gardens. You’re probably asking yourself, what exactly do I mean by a value investor? What is a value investor?

What I mean by that is a value investor is somebody who primarily cares about cash flow so they’re as interested in flipping or price appreciation for a profit. Rather they’re more long-term investors looking for condos that will provide a very good yield.

We’re going to look at one example of a unit at Dundas Square Gardens and that is the TO8 model which is a 2 bedroom at around 576 square feet. Here’s the layout you can see here. It’s a great floor plan with no wasted space. We’re going to make some basic assumptions as we go through this analysis. You can see what we’re working with for the price, the downpayment, the maintenance fees, and estimates for taxes, insurance, and rent. I set the rent here at $1800 a month because typically 2 bedrooms average around $2200 a month downtown. But this unit is significantly smaller and it only has one bathroom. Still I’m being quite conservative at $1800 a month and if this unit did exist today, it would probably get more like $1900 for it, but anyways, let’s be conservative here.

Based on these assumptions, if we plug in a 2.5% mortgage at 30 year amortization, you can see that the total expenses would be about $1560 a month, meaning an incredible positive cash flow of $240 a month. Add to that your principal pay down in the first year and you’re looking at a first year ROI of about 13.45% which is amazing.

Okay, you say, Andrew, what if interest rates go up? What would that look like there? This is at 2.5%. Let’s say interest rates go up one full percentage point to 3.5%. Cash flow in this example goes down to about $90 a month, but you still get a very healthy ROI of 9.36%. Now try getting that in a mutal fund or the bank and keep in mind that this assumes zero price appreciation on the condo between now and final closing in 2018. There you go, 9.36% on that example there.

In conclusion, Dundas Square Gardens is a value investor’s dream building. If you’re looking for great cash flow and you’re not looking to flip, you are a long term investor looking to hold and really get cash flow year after year, this is a great building for you.

The unique combination of location, unit layouts, and price insure that investing in this building will give you a very healthy ROI.

Thanks for watching this video and if you’re ready to reserve a unit at Dundas Square Gardens, please contact me by e-mail andrew@truecondos.com or call me 416-371-2333 and for more information about Dundas Square Gardens check out my website at truecondos.com/dundas-square-gardens.

 

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