Joel DyckReal Broker SK Ltd.
Saskatoon · From the topic map

How do I analyze a Lakeview multi-family deal?

Lakeview is a southeast Saskatoon neighbourhood built out mostly through the 1970s and 1980s around the Lakewood Civic Centre, and true multi-family stock there is limited, so most Lakeview deals described as multi-family are a single-family home with a legal secondary suite. Value comes from documented rent, not the citywide benchmark of $444,700.

Start with the City of Saskatoon's permit record for any suite, since egress windows, ceiling height and fire separation all have to be in place before a lender or appraiser will count that space's income at all.

Up to four units, financing still runs on comparable sales adjusted for rent. Above that, a lender will normally want a report from an Appraisal Institute of Canada designated appraiser based on stabilized net operating income rather than a per-square-foot figure.

Joel Dyck reads a Lakeview property's rent roll against the Residential Tenancies Act and confirms what is actually legal before pricing it. Get your hand-reviewed valuation from Joel Dyck.

Get your hand-reviewed valuation from Joel Dyck.

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