This morning we are featuring MLS V643849, a classic stucco covered Vancouver bungalow in the lovely Renfrew neighbourhood, situated between two larger homes (people with low self esteem need not pursue this listing). Buying this listing as a rental property would mean that you have some cajones and a big bank account. You can show off to your friends by telling them how much more your mortgage is than the rent.
Yes, this home with a 'low basement ceiling,' looks like the yard hasn't been maintained, and really needs a coat of paint, some new steps, and windows, is currently rented out at $1050 per month. The cost buying this property at list price by borrowing money and paying it back over 25 years is $3,259.84 per month. Add on some property taxes and basic upkeep and yes that's right you can subsidize your renter to the tune of $2500 per month.
Home of Insanity.