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715 Gerard St, Plantagenet, ON

Name: 715 Gerard St, For Sale in Plantagenet - Zoocasa
Brand: RIGHT AT HOME REALTY
SKU: X13830206
Price: 569999 CAD

House

For Sale

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524

MLS® X13830206

Overview

Key Facts

Type Single Family Residence

Levels Residential

Size -

Garage Yes

Taxes $3,202

Days Active 26

Lot Size

Approx. Age

MLS® Number X13830206

Property Address: 715 Gerard St, Plantagenet, ON, K0B1L0

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

Description

INVESTMENT OPPORTUNITY | LEGAL DUPLEX | ~5.0% CAP RATE | CASH FLOW POSITIVE. Welcome to 715 Gerard Street - a legal, income-producing duplex in the heart of Alfred and Plantagenet, offering the rare combination of strong cash flow, a built-in mortgage helper, and flexibility for both investors and future owner-occupants.This turnkey property features two self-contained units. The upper unit will be delivered vacant at closing, with an established market rent of $2, 000/month - giving a buyer the choice to rent it out immediately or move in themselves and let the lower unit carry a significant share of the mortgage. The lower unit is home to an excellent, long-standing tenant paying $1, 500/month, who is happy to stay on. With both tenants responsible for their own utilities (other than water) and estimated operating expenses of approximately $1, 200/month, this property delivers an impressive cap rate of approximately 5.0% and positive cash flow from day one - a rare find in today's market. For the investor, it's a fully tenanted (or nearly so) income property with room to grow. For the owner-occupant, it's a mortgage buster: live upstairs, rent the lower unit, and enjoy monthly housing costs far below what you'd pay renting a comparable home outright. Upper Unit: 3 bedrooms, 1 bathroom, large eat-in kitchen, spacious living room, and a private yard. Lower Unit: 2 bedrooms, 1 bathroom, large kitchen, spacious living room, and its own private yard. Set on an oversized 94' x 94.62' lot with a carport, the property is centrally located in Alfred and Plantagenet, close to all local amenities, just 20 minutes to Rockland, and 45 minutes to Ottawa.Recent updates include: new roof (2021), new furnace and hot water tank, new flooring (2013), and new windows throughout (excluding the bay window and patio doors). (id:58753)Show Description

MLS® NumberX13830206

Laundry Level

Central VacNo

FireplaceNo

Acreage

Exterior

GarageYes

Approx. Age

BasementApartment in basement, Separate entrance, N/A

DrivewayCarport, No Garage

Garage Spaces

HeatForced air, Natural gas

A/CNone

Extras

Map

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