162 Park Street, Chatham, Ontario, N7M3R8

For saleJust listed

4 days ago

$590K

162 Park Street, Chatham, Ontario, N7M3R8

Lot size 8,276 sq ft (0.19 ac)

Listed by ROYAL LEPAGE PEIFER REALTY, Brokerage

266 Grand Avenue West, Chatham, Ontario, N7L1C1

For sale

12 days ago

$469K

266 Grand Avenue West, Chatham, Ontario, N7L1C1

Lot size 22,216 sq ft (0.51 ac)

Listed by NEST REALTY INC.

26 Kendall Street, Chatham, Ontario, N7M2X5

For sale

13 days ago

$649K

26 Kendall Street, Chatham, Ontario, N7M2X5

Listed by ROYAL LEPAGE PEIFER REALTY, Brokerage

196/198 PARK Street, Chatham, Ontario, N7M3R9

For sale

16 days ago

$270K

196/198 PARK Street, Chatham, Ontario, N7M3R9

Lot size 3,920 sq ft

Listed by ROYAL LEPAGE PEIFER REALTY, Brokerage

Investment analysis

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$299,900

Chatham

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$299,900

For saleJust listed

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153 Adelaide Street South, Chatham - Multi-family for Sale

153 Adelaide Street South, Chatham, Ontario, N7M4R6

5,009 sq ft (0.11 ac) lot sizeListed Yesterday

Overview

This multi-family property in Chatham is for sale. It has been on the market 1 day, fresher than the Chatham average of 76 days.

Multi-Family Properties for Sale in Chatham →All real estate in Chatham →

Description

**AFFORDABLE DUPLEX WITH INCOME POTENTIAL!** Welcome to 153 Adelaide Street South in Chatham! Whether you're looking to enter the real estate market, expand your investment portfolio, or live in one unit while generating rental income from the other, this property offers an incredible opportunity! The spacious main-floor unit features 2 bedrooms, a full bathroom, and a generously sized kitchen, while the upper 2-bedroom unit is currently rented for $1,200 per month, (with rent paid directly to the property owner through a government-administered program), the main unit is vacant and was previously rented for $1500/mth. Separate gas and hydro meters, water shared. Situated on a double lot, this property offers plenty of outdoor space for tenants to enjoy, along with convenient on-site parking. Located just minutes from downtown Chatham, within walking distance of shopping, restaurants, everyday amenities, and public transit, this is a location that makes daily living easy. **Live downstairs and let the rental income upstairs help offset your mortgage and monthly expenses!** An affordable opportunity with flexibility, income potential, and room to enjoy. Don't miss it! (id:66096)

Property Details

MLS®: 26026858
Property Type: Multi-family
Zoning: RL3
Lot Size: 5,009 sq ft (0.11 ac)
Units: 2
Year Built: 1900
Storeys: 1
Heating: Baseboard heaters, Forced air, Electric, Natural gas, Furnace
Garage: Other
Ownership: Freehold
Property Tax: $2,554.98/yr
Listed: Yesterday

Rooms

Basement

Laundry room
Utility room

Second level

Living room
Kitchen
Bedroom
3pc Bathroom

Main level

Kitchen
4pc Bathroom
Bedroom
Primary Bedroom
Bedroom
Living room

Room details as supplied by the listing brokerage. Dimensions are shown in the unit the listing states, and are approximate.

Features

Flooring: Laminate, Cushion/Lino/Vinyl
Foundation: Block
Exterior: Aluminum/Vinyl

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

Chatham listings, avg age

76d

List price

$300K

Haho

This multi-family in Chatham has been listed for 1 day, which is 75 days fresher than the city average of 76. Act while there is still low competition.

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Listed by RE/MAX PREFERRED REALTY LTD. · DANIELLE SIMARD

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (N7M)

This home lists at $299,900, about 4.2× the local median household income of $71,000.

Carrying it typically needs a household income of about $58,581 (20% down, 25-yr amortization, stress-tested) — within reach of the area median.

Median household income: $71,000
Population: 25,579
Median age: 44
Owner / renter: 67% / 33%
Avg. household size: 2.3

Source: Statistics Canada, 2021 Census (FSA N7M)

$299,900

For sale

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Full Cost Breakdown

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Down Payment5% · $14,995

Min 5%50%

Mortgage payment$1,580/mo

↳ CMHC premium ($11,396 capitalized)

Property tax (est.)$213/mo

Total monthly$1,792

Cash Needed to Close

Down payment (5%)$14,995

Land transfer tax$2,974

Est. closing costs$3,400

Total cash needed$21,369

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Rates via our partner mortgage brokers at iShopRates · Estimates only, not financial advice