$399,900

For sale

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24 Foster Street, Chatham - Multi-family for Sale

24 Foster Street, Chatham, Ontario, N7M4N5

3,877 sq ft lot sizeListed 86 days ago

Overview

This multi-family property in Chatham is for sale.

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Investment analysis

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$399,900

Chatham

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Description

*** 3 unit investment property*** looking for an eager new owner to add a little TLC!! Both main floor units offer 1 bedroom, with plenty of extra space in the basement. The entire upstairs is a sizeable 3 bedroom unit. Parking available on site. Showing requests must be 48 hours in advance to respect appropriate tenant notices. Property being sold in **AS IS** condition. Current rental income approximately $3200/month. (id:66096)

Rooms

Unknown

Bedroom: 11.8 x 9.6 feet

Second level

Bedroom: 11.9 x 9.6 feet
Bedroom: 11.6 x 10.8 feet
4pc Bathroom: 6.4 x 5.9 feet
Kitchen: 11.5 x 9.4 feet
Living room: 12.6 x 11.8 feet

Basement

Laundry room: 11.1 x 11.2 feet
Other
2pc Bathroom: 4.9 x 4 feet
Other: 11.1 x 11.2 feet
Other: 11.2 x 8.4 feet
Laundry room: 11.3 x 6.3 feet

Main level

Bedroom: 9.9 x 8.7 feet
4pc Bathroom: 10.6 x 8 feet
Living room: 13.5 x 10.7 feet
Kitchen: 11.8 x 9.8 feet
Bedroom: 11.9 x 9.8 feet
4pc Bathroom: 7.8 x 6.4 feet
Living room: 13.8 x 12.8 feet
Kitchen: 11.9 x 9.4 feet

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

Area context

Neighbourhood profile (N7M)

This home lists at $399,900, about 5.6× the local median household income of $71,000.

Carrying it typically needs a household income of about $78,114 (20% down, 25-yr amortization, stress-tested) — roughly 10% above 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)

$399,900

For sale

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Full Cost Breakdown

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Down Payment5% · $19,995

Min 5%50%

Mortgage payment$2,106/mo

↳ CMHC premium ($15,196 capitalized)

Property tax (est.)$249/mo

Total monthly$2,355

Cash Needed to Close

Down payment (5%)$19,995

Land transfer tax$4,474

Est. closing costs$3,700

Total cash needed$28,169

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

24 Foster Street, Chatham - Multi-family for Sale

Rental cashflow calculator

Description

Property Details

Rooms

Features

Market Timing

Location

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Neighbourhood profile (N7M)

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