Simcoe Rent-to-Own Opportunity

About Simcoe, ON:

Simcoe is a community on the rise, with a 12% growth in construction in 2021, adding over 800 units to meet increased demand by first-time buyers. Simcoe now has a population of 13,922. By 2030 the population is forecasted to be 17,031, based on an anticipated average 10-year growth rate of 11.3%, which is a significant jump from previous years. A rapidly expanding population signals economic growth in the area, which can lead to increased housing demand and higher home prices. According to Zolo, current stats indicate an average house price of $559,000 in Simcoe. It’s an affordable place where families can thrive.

About the tenant-buyers:

Angus and Kaylena, along with their three kids (ages 3, 6, and 10), have found their dream home in Simcoe. When traditional financing fell through because of a credit hiccup, they didn’t lose hope. Passionate about owning the home they found, the couple is taking the Rent-to-Own path instead. They have $25,000 for a down payment, secure house-hold income and ready for a 4-year journey to make this house their own.

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Income

Together, they bring in a solid $131,924 annually. Angus has been employed full time with Pullman Services since 2021. He’s earning $91,520 and has security thanks to his union membership (LIUNA). Kaylena has been working part-time at Molly Maid since 2023, which gives her flexibility to look after their kids. She contributes $15,600. Plus, the couple receives $24,804 in child benefits.

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Credit

Kaylena’s credit score is a solid 723, which is great. Angus is a bit behind at 632. He is sorting out a collection item before they move into the new place. Plus, he’s going to get some expert advice and kept accountable during the Rent-to-Own journey to make sure this couple is mortgage-ready by 2028.

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Property

They’ve discovered their dream home: a spacious three-bedroom bungalow priced at $505,000. Nestled on an expansive lot adorned with mature trees, it offers a touch of the countryside while remaining in the heart of town. Freshly painted and boasting hardwood floors throughout the living areas and bedrooms, the house is a haven of natural light thanks to its large main-floor windows. The expansive basement is fully finished, featuring a recreational room, a bar, and plenty of storage. There’s even a sizeable, finished workshop with external access. Ideally situated in Simcoe, Ontario, it promises convenience with nearby schools, shopping, and essential amenities, all just a short drive from the serene Port Dover Beach and within an hour’s reach of both Hamilton and Welland.

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Next Steps

Unlock $922 estimated monthly cash flow (at 6.04% fixed) with this RTO deal, but hurry – deals like this won’t wait. With inspection and financing conditions in play, you’re making a smart, secure investment. The best part? You get to by-pass the bidding wars. If you’re set for a $404,000 mortgage, click the green button below and request this time-sensitive deal.

Have a Cash Downpayment? Here are the deal highlights:

Term: 4 years

Purchase Price:  $505,000

Estimated Investment Required: $99,300

Estimate ROI: 28% (based on fixed 6.04% and a 4-year deal)

Estimate Returns: $107,349

TB Down Payment: $25,000


Rent-to-Own Monthly Payment: $4,173

Monthly Cash Flow: $922

Future Purchase Price: $612,831 (after four-years)

Using Line of Credit for Downpayment? Here are the deal highlights:

Term: 4 years

Purchase Price:  $505,000

Estimated Investment Required: $99,300

Estimate ROI: 20% (based on fixed 6.04% and a 4-year deal)

Estimate Returns: $80,741

TB Down Payment: $25,000


Rent-to-Own Monthly Payment: $4,173

Monthly Cash Flow: $326

Future Purchase Price: $612,831 (after four-years)