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MLS® X13736054

Overview

Key Facts

Type Single Family Residence
Levels Residential
Size -
Garage Yes
Taxes $3,478
Days Active 3
Lot Size 
Approx. Age 
MLS® Number X13736054

Property Address: 378 Barrie St, Kingston, ON, K7K3T4

Average square foot calculated using Size range provided by listing agent.

Description

6.8% Net Cap Rate with Additional Income Upside. An exceptional turnkey investment opportunity with $43, 200 in annual gross rental income and a 6.8% net cap rate, with further potential to increase revenue. The property is currently rented as a 4-bedroom student rental at $3, 600 per month plus tenants pay utilities, with a lease in place until the end of April 2027 with the high possibility of these tenants renewing their leases. Located within walking distance of downtown Kingston and Queen's University, this property benefits from a highly desirable location and consistent demand for student housing. The property has been well maintained and consistently occupied, offering investors immediate income while providing clear upside potential. With the existing four-bedroom configuration generating a 6.8% net cap rate, the opportunity to add rental income through the currently unused bedroom, potential dining-room conversion, and parking space creates the potential for an even stronger return over time. There is meaningful opportunity to increase the property's income beyond the current $43, 200 annual rent. The home includes a fifth, smaller bedroom on the second floor that is not currently being rented, along with the potential to convert the existing dining room into an additional bedroom. There is also one dedicated parking space that could potentially be monetized separately. These opportunities provide investors with several avenues to enhance future rental income with relatively modest improvements. Laundry will be relocated from the lower level to the main level kitchen as a stackable set in the next few weeks. (id:58753)Show Description
MLS® NumberX13736054
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
GarageYes
Approx. Age
BasementUnfinished, N/A
DrivewayNo Garage
Garage Spaces
HeatForced air, Natural gas
A/CNone

Extras

Rooms

Show Details
Bedroom 2:Second Floor2.34 × 3.14 ft
Dining Room:Main Floor3.16 × 3.6 ft
Bathroom 1:Second Floor2.25 × 2.25 ft
Bedroom 1:Main Floor3.25 × 2.64 ft
Living Room:Main Floor3.14 × 4.86 ft
Kitchen:Main Floor3.39 × 3.94 ft
Bathroom 2:Main Floor1.5 × 1.75 ft
Bedroom 3:Second Floor3.25 × 2.67 ft
Bedroom 5:Second Floor3.16 × 3.14 ft
Bedroom 4:Second Floor4.93 × 2.8 ft

Price History

Last Sold Price

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Appreciation

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Avg. Days Listed

62 days

Today, For Sale for $559,000

For Sale · 2 days

$559,000

MLS® X13736054

3 days ago

Not Sold Yet

September 2026, For Sale for $559,000

For Sale · 2 days

$559,000

MLS® X13736054

3 days ago

Not Sold Yet

June 2022, Expired for $599,000

Expired · 62 days

$599,000

MLS® 40232519

4 years ago

Canceled on Jun 1, 2022

Home Estimate Zoopraisal®

This property is estimated to sell between: $559,000 and $771,000.
Similar properties in this area sold on average for: $700,277
Expected to sell in 16 days. Similar properties sold in 19 days. This home has been on Zoocasa for 3 days.

The estimated sale price does not take into account many variables such as recent renovations, type of appliances, school district etc. To get a more accurate estimate please contact agent.

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