$569,999
Available - For Sale
Listing ID: X13830206
715 Gerard Street , Alfred and Plantagenet, K0B 1L0, Prescott and Rus
| 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). |
| Price | $569,999 |
| Taxes: | $3202.00 |
| Assessment Year: | 2025 |
| Occupancy: | Tenant |
| Address: | 715 Gerard Street , Alfred and Plantagenet, K0B 1L0, Prescott and Rus |
| Directions/Cross Streets: | Rue du Comte + Hwy 17 |
| Rooms: | 9 |
| Bedrooms: | 5 |
| Bedrooms +: | 0 |
| Family Room: | F |
| Basement: | Separate Ent, Apartment |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 3 | |
| Washroom Type 2 | 0 | |
| Washroom Type 3 | 0 | |
| Washroom Type 4 | 0 | |
| Washroom Type 5 | 0 | |
| Washroom Type 6 | 3 | |
| Washroom Type 7 | 0 | |
| Washroom Type 8 | 0 | |
| Washroom Type 9 | 0 | |
| Washroom Type 10 | 0 |
| Total Area: | 0.00 |
| Property Type: | Detached |
| Style: | Bungalow |
| Exterior: | Brick, Stone |
| Garage Type: | Carport |
| Drive Parking Spaces: | 2 |
| Pool: | None |
| Approximatly Square Footage: | 1100-1500 |
| CAC Included: | N |
| Water Included: | N |
| Cabel TV Included: | N |
| Common Elements Included: | N |
| Heat Included: | N |
| Parking Included: | N |
| Condo Tax Included: | N |
| Building Insurance Included: | N |
| Fireplace/Stove: | N |
| Heat Type: | Forced Air |
| Central Air Conditioning: | None |
| Central Vac: | N |
| Laundry Level: | Syste |
| Ensuite Laundry: | F |
| Sewers: | Sewer |
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| RIGHT AT HOME REALTY |
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Dir:
416-828-2535
Bus:
647-462-9629
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At a Glance:
| Type: | Freehold - Detached |
| Area: | Prescott and Russell |
| Municipality: | Alfred and Plantagenet |
| Neighbourhood: | 608 - Plantagenet |
| Style: | Bungalow |
| Tax: | $3,202 |
| Beds: | 5 |
| Baths: | 2 |
| Fireplace: | N |
| Pool: | None |
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