For Sale · Specialty

11 MacFadyen Road, Augustine Cove

11 MacFadyen Road, Augustine Cove, PE C0B1X0

$189,900 total

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Asset Class

Specialty

Size

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Building class

A

Zoning

US — Urban Services

$ / SF

—

Occupancy

86%

Year Built

1980

Lot Size

0.28 ac

About this property

Water views, a short walk to the beach, and fully furnished. What more could you ask for? Welcome to 11 MacFadyen Road, a charming, move in ready 3 bedroom, 1 bathroom cottage in beautiful Augustine Cove. Located just 10 minutes from Borden and the Confederation Bridge, this property is a short stroll to the warm waters of PEI's south shore, perfect for swimming, bar clamming, and bass fishing. Inside, you will find a bright, open concept living, dining, and kitchen area with ample cupboard space and tasteful furnishings throughout. Just off the entryway, step onto the back deck to relax and take in the beautiful water views. Down the hall are three comfortable bedrooms, a full bathroom, and a convenient laundry area. Numerous recent updates include fresh paint, new luxury vinyl flooring throughout, updated light fixtures, door hardware and closet doors, new curtain rods, curtains and Zebra blinds, a new steel exterior door, quality furnishings, and newer LG smart washer and dryer and ceramic top stove. The cottage is equipped with an electric furnace and two professionally installed portable A/C units. Two bedrooms feature queen size beds, while the third offers bunk beds with two singles. An added bonus is the wired bunkie, offering excellent potential as a guest space, man cave, or additional retreat with a little TLC. Whether you are looking for a summer getaway, a peaceful coastal escape, or a turnkey rental opportunity, this property is ready to enjoy. You are also just 15 minutes from the charming village of Victoria by the Sea, 25 minutes from Summerside, and approximately 35 minutes from Charlottetown and several of PEI's beautiful golf courses. Do not miss your chance to own this furnished coastal retreat! (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$190K
Down payment30% · $57K
Interest rate6.25%
Amortization25 years
Occupancy86%
Expense growth2.5%

Monthly debt service

$877

Projected NOI

$11K

Annual cash flow

$689

Cash-on-cash

1.21%

DSCR

1.07

Going-in cap

5.90%

Figures are modelled from the listed price and asset class for illustration only. Verify all income, expenses, and financing terms independently before making an offer.

Area demographics

Trade area within 3 miles of the property.

Population

73,448

Households

32,302

Median income

$126,500

Median age

37.6

Daytime population

65,222

5-yr growth

5.5%

Modelled estimates for illustration until a licensed census data provider is connected.

Secure deal room

Confidential diligence documents for 11 MacFadyen Road, Augustine Cove.

NDA required
  • Offering Memorandum

    PDF · 4.2 MB

  • Rent Roll & T-12

    XLSX · 820 KB

  • Environmental Phase I

    PDF · 6.7 MB

  • Site Survey & Plans

    PDF · 11.4 MB

  • Zoning Confirmation Letter

    PDF · 310 KB

Preview experience — the electronic NDA is illustrative and is not a binding agreement.