Tuesday, September 20, 2011

Ticat Lawn Parking Revenues

There's a few houses right near the Beechwood Avenue entrance of Ivor Wynne that do a decent trade in allowing cars to park on their lawns and driveways for Ticat games. One house in particular has interested me, namely 121 Prospect Avenue North at the corner of Beechwood. Before last Friday's game, there were eight cars parked on the property with what looked like room for three more. Assuming the owner was smart and parked his car on the street before the game and charged $20 per car, that's $220 per game and $2200 for the whole season, including the pre-season, but not any playoff game.

That I think would pay your property taxes on the property. I'm wondering if that would be a selling point for the property and how much it would add to the value of the home. Considering that an investment of $44,000 that pays 5% (very generous in these times) would also yield $2200 per year, the extra income would surely bump up the value of the house. I'm guessing the owners are glad the team's not moving to the West Harbour.

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