About Spruce Grove, Alberta:

Spruce Grove, Alberta, located just 17 kilometres west of Edmonton. The population is currently at 38,985 and is growing consistently at an annual rate of 3.41%. It is a lively city known for its blend of industry, commerce, and community. It offers urban conveniences like shops and restaurants alongside extensive recreational amenities, including over 40 kilometres of all-weather trails linking various neighbourhoods, parks, and playgrounds. With diverse housing, top-notch schools, abundant sports and cultural activities, medical facilities, and a thriving business scene, Spruce Grove is an ideal place to live, work, and play. Over the past year, home prices have surged by 17.31%, rising from $399,000 to $449,000. Additionally, the increase in new listings suggests a dynamic buyer’s market. This combination of a growing population and significant price appreciation makes Spruce Grove attractive for homebuyers and investors.

About the tenant-buyers:

Donnarieve, a resilient and ambitious divorcee, is currently pursuing a law degree at the University of Alberta’s Spruce Grove campus. After overcoming the hurdles of a difficult divorce, Donnarieve is focused on forging a path towards independence and homeownership. She has diligently saved $15,000 for a down payment and requires a 4-year Rent-to-Own term to rebuild her credit. By 2028, she will qualify for a mortgage to own a home of her own. Donnarieve has her heart set on a beautiful newer semi-attached priced at $349,000, just a short drive from downtown Edmonton.

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Income

Donnarieve works as a Judicial Clerk for the Alberta Government, earning $53,165 a year. Her career is on the rise, with significant salary increases expected as she progresses through law school and starts working with the Crown in 2025.

Her son, Nathan, 24, will live with Donnarieve. He works full-time as a pipe layer for Thompson Infrastructure with an annual salary of $125,000. Nathan is committed to contributing $2,000 monthly towards expenses, although his income is not needed for Donnarieve to qualify for her mortgage at the end of the Rent-to-Own term.

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Credit

Currently, Donnarieve has a credit score of 570, mainly due to collections as a result of the divorce. She’s working closely with a mortgage agent approved by Clover Properties to improve her credit score and save enough for a full mortgage by 2028.

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Property

Donnarieve has fallen in love with a brand-new townhouse in Spruce Grove.The main floor is bright & airy and features a 2pc powder room, vinyl plank flooring, a spacious kitchen with center island, corner pantry, & separate dinette, and a great living room with cozy gas fireplace & built-in TV nook. Upstairs you’ll find plush carpeting, a 4pc bath, and 3 generous-sized bedrooms including a king-sized owners suite with walk-in closet & 3pc ensuite, while down in the basement the space is beautifully finished with a sizeable rec room, 2pc bath, and dedicated laundry area. With a single-attached garage, exterior deck, and ground-level patio, this home is complete with a large yard and wonderful greenspace view. Walking distance to playgrounds & schools, with easy access to commuter highways welcome home, making Spruce Grove the perfect setting for Donnarieve to start fresh, provides stability to her family and advance her professional career.

Next Steps

If you can qualify for a mortgage of $279,920 and are interested in a steady monthly cash flow of approximately $780, this is your chance to work with a stable tenant-buyer poised for success. Donnarieve’s is not just a determined to own her first home, she’s starting out her professional career as a lawyer during her Rent-to-Own term.

Click the green button to grab this opportunity!

Deal Summary:

Term: 4 years

Purchase Price:  $349,000

Estimated Investment Required: $71,500

Estimate ROI: 30% (based on 5.99% and a 4-year deal)

Estimate Returns: $87,200

TB Down Payment: $15,000

Numbers Summary:

Monthly Payment: $3,135

Condo Fee: $0 (tenants will pay this)

Monthly Cash Flow: $780

Future Purchase Price: $430,189 (after four-years)