Vancouver Real Estate: East vs West
If you are looking to purchase a home as investment you are likely considering two metrics: cash flow and potential for appreciation. With the ongoing market shift that we have been experiencing lately, the divide between East Vancouver and the Westside has become an interesting case study when looking through the lens of an investor.
As a simple example, if we look at our current listing at 5229 Elgin Street (http://patrickweeks.com/property/5229-elgin-street-vancouver-bc/) it rents for $5,255 per month. This is beautifully maintained and updated character home just East of Fraser Street.
This home is currently listed at $1,798,000. If you are looking at buying a beautiful updated character home near 20th and Dunbar is currently rented by a client of ours for $4000 per month. This is a 50 X 122 lot with a 3300 square foot home with 3 bedrooms and 2 baths upstairs. The current market value of this home is approximately $3.2 – $3.4 Million.
Rate of Return for East Vancouver home: 3.5% per year
Rate of Return for Westside Dunbar home: 1.5% per year
If you are looking for an investment property or just looking for the best investment for your family contact us today to find you the best opportunity’s in the Vancouver real estate market. It is currently the best buyers’ market since 2008 for detached homes.