Meadowland will attract the many people looking for the high quality of living that Coaldale has to offer and the convenience of nearby amenities, such as the grocery store and the public library. With the town of Coaldale experiencing significant residential and commercial growth, it has an impressive 0.3% vacancy rate for two-bedroom apartment rentals. This growth also allows Meadowland to boast strong monthly rental income at an excellent price point.
Property type: Condo Apartment
Number of Bedrooms: One & Two Bedrooms
Property Location: 2114, 2118, 2122 18th ave. Coaldale, Alberta
Furnishings: Partly furnished with 6 appliances
- Washer and Dryer Set
- Top Mount Fridge
Ownership Type: Freehold
Parking: Each unit comes with 2 parking bays
Positive Cash Flow: Received right from day one
Money in: A deposit of $15,000 is required to ensure your property. The deposit amount will be deducted from the down payment amount.
With a total population of 83,517, Lethbridge is the commercial, financial, transportation and industrial hub of Southern Alberta. The city is ranked 10th in the world for lowest cost of doing business out of 128 cities in 8 countries. As a result, the city attracts not only a large amount of business to the area, but also a large number of people. Lethbridge’s cost-effective business climate is compounded by a thriving primary agriculture industry, a growing manufacturing sector, proximity to target markets and a stable, committed and growing workforce, making Lethbridge a competitive location for businesses looking to grow – and ultimately, an ideal investment location.
Lethbridge has a diversified economic base – its main industries include: agriculture, high tech manufacturing, education, cultural programs, retail and professional services, health care and research. As such, Lethbridge has consistently experienced lower unemployment rates than the Canadian average, sitting at 4.6% compared to Canada’s 7.2%. For the past 10 years, the Lethbridge population has increased 2%, year over year, adding to the area’s characteristically young, energetic and hardworking labour force.
The quality of life in Lethbridge has been rated as good or very good by 98% of its citizens. That’s equal to or higher than 23 other communities in the country. Not only that, 94% say it’s possible for the city to grow and to maintain this high quality of life.
Coaldale’s population has grown 21.3% between 2006-2011. Ideally located between the three metropolitan locations of Lethbridge, Medicine Hat and Calgary, Coaldale benefits from the strong economies of these areas, which includes population growth, low vacancy rates and unemployment rates. Coaldale sits along Highway 3 as well as the Canadian Pacific Railway and is only 20 minutes away from a nearby airport, making the town an easily assessable and commutable area.
Asking Prices of Comparable Properties
With prices starting at $114,900 and rental amounts of $950 per month, Meadowland represents a significant opportunity to generate wealth and a high return at a low price point.
Average Lethbridge properties generate comparable rents between $850-$950, but are priced higher, averaging at $143,930. While the many comparable properties may be selling for higher, the price-to-rent ratio on these properties are not as desirable as that of Meadowland. Looking at comparables in the area, which offer relatively the same amenities, Meadowland still stands out above. Through investing with Vision Investment Properties, property management and rent collection are all benefits that come built into your investment. With its strong rents and low price points Meadowland makes for a great addition to an investor’s portfolio.