Sylray Mansions, located in Berea Johannesburg is the perfect investment opportunity for investors.
This is a bachelor apartment that has a kitchen and a bathroom. Slight maintenance will be required.
The rental income that can be achieved at the apartment is R3000.00.
Calculation:
Purchase with Bond (90%):
R 75 000.00 Bond at 90 %
=R 732.00 pm.
Monthly Levy
=R 1 314.02 pm.
Rental Management fee (if applicable)
=R 345.00 pm.
Total
=R 2 391.02 pm.
R 3 000.00 rental income - R 2 391.02 expenses
=R 608.98 Cashflow positive.
Purchase with Cash:
Monthly Levy
=R 1 314.02 pm.
Rental Management fee (if applicable)
=R 345.00 pm.
Total
=R 1 659.02 pm.
R 3 000.00 rental income – R 1 659.02 expenses
=R 1 340.98
Cashflow positive.
Gross Yield: 48% at R 3 000.00 rental income
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