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$375,000
Bonfield
226 Railway Street, Bonfield, Ontario, P0H1E0
This multi-family property in Bonfield is for sale offering roughly 2,750 sq ft of space. It has been on the market 16 days, fresher than the Bonfield average of 65 days.
Excellent investment opportunity in Bonfield! This four plex features four residential units, consisting of three 2 bedroom units, and one bachelor unit . Two of the 2 bedroom units are currently tenanted, providing rental income of from day one. The remaining 2 bedroom unit and bachelor unit require completion of renovations, offering an opportunity for investors to add value, complete the improvements, and maximize the property's rental potential. Ideal for investors looking to expand their portfolio and increase future income potential. Explore the possibilities this multi unit property has to offer! Annual expenses are $8543.02. Tenant in Unit 2 pays $1650 / month but carries out snow removalAnd lawn care, water filters and UV , and basic maintenance to the property. Unit 4 pays $1850 per month. Unit 1 & 3 are requiring renovation but could potentially generate even greater cashflow, or live in one unit, and generate rental income from the others to help cover your mortgage and living expenses! (id:66096)
Features and services as supplied by the listing brokerage.
Active: 16 days on market, against an average age of 65 days across the listings currently for sale in this city
This 7-bed multi-family in Bonfield has been listed for 16 days, which is 49 days fresher than the city average of 65. Act while there is still low competition.
Approximate location — exact address confirmed upon showing
This home lists at $375,000, about 4.7× the local median household income of $80,000.
Carrying it typically needs a household income of about $73,251 (20% down, 25-yr amortization, stress-tested) — within reach of the area median.
Source: Statistics Canada, 2021 Census (FSA P0H)
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Loading rates, 30-yr amortization
Cash Needed to Close
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