Oshawa Rent-to-Own Opportunity

About the tenant-buyers:

Damian and Narinee are a young professional couple with no children who want to own their own house but need a little time to build their credit before they can qualify for a bank mortgage.  They have saved $25,000 towards the down payment.


They have a total household income of $143,500.  Damian works for Au Lit Fine Linens as the Warehouse Manager.  He has been employed with the company since 2017 and earns $80,000 annually.  Narinee works for TD Bank.  She started with TD in 2015 and earns a salary of $63,500.


Damian has a score of 668.  He has under 5k in debt and just needs time to rebuild his credit history.  Narinee has a score of 642 with 15k in debt, like Damian, also needs time to rebuild her credit history. The couple will be working with a Clover Properties approved mortgage professional over the four-year term to get mortgage ready by 2027.


The couple found a great starter home in  Oshawa close to the highway and transit lines.  This property is a condo town with 3-bedrooms, 2-bathrooms. Located on a quiet cul-de-sac and backing on to a park, there is plenty of privacy.  This house has been well-cared for and boasts a new roof (2019) and new windows in 2023.  Located close to all amenities including schools, parks, trails and the hospital, this location is fantastic for any family looking to get into their own home and for any investor wanting to hedge their risk.  The condo fee of $412 will be paid for by Damian and Narinee.

Next Steps

If you can qualify for a $420,000 mortgage and want to enjoy $1,059 in cashflow each month, please click the button below to indicate your interest in helping Damian and Narinee Rent-to-Own their own home.



Deal Summary:

Term: 4 years

Purchase Price:  $525,000

Estimated Investment Required: $103,700

Estimate ROI: 27% (based on 6.94% and a 4-year deal)

Estimate Returns: $110,306

TB Down Payment: $25,000

Numbers Summary:

Rent-to-Own Monthly Payment: $4,219

Condo Fee: $412 (tenants will pay this)

Monthly Cash Flow: $1,059

Future Purchase Price: $640,141 (after four-years)