$699,900

For sale

40 Timmins Crescent, Chatham - Multi-family for Sale

40 Timmins Crescent, Chatham, Ontario, N7L4E1

8,843 sq ft (0.20 ac) lot sizeListed 42 days ago

Overview

This multi-family property in Chatham is for sale. It has been on the market 42 days, fresher than the Chatham average of 76 days.

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Investment analysis

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$699,900

Chatham

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Description

Excellent investment opportunity with immediate income form day one with this fully tenanted 4-plex building located on the desirable northside of Chatham. Each unit features 3 bedrooms and 1.5 bathrooms, offering functional layouts that appeal to long-term tenants. Situated close to major amenities, schools, shopping and public transportation, this property boasts strong rental demand and consistent cash flow. Tenants enjoy everything they need, making it an attractive investment. In suite laundry is available to each tenant as well as ample parking spaces. Each unit has a full basement with laundry hook ups. Whether you are a seasoned investor or just getting started, this multi-family property offers great returns and minimal vacancy risk. Don't miss your chance to add a reliable income producing asset to your portfolio. (id:66096)

Property Details

MLS®: 26023386
Property Type: Multi-family
Zoning: RM1
Lot Size: 8,843 sq ft (0.20 ac)
Units: 4
Year Built: 1975
Storeys: 2
Heating: Forced air, Natural gas, Furnace
Garage: Other
Ownership: Freehold
Property Tax: $6,131.98/yr
Listed: 42 days ago

Rooms

Basement

Recreation room
Laundry room

Second level

Bedroom
Bedroom
Bedroom
3pc Bathroom

Main level

Living room
Kitchen/Dining room
2pc Bathroom

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

Features

Flooring: Laminate, Carpeted, Ceramic/Porcelain, Cushion/Lino/Vinyl
Foundation: Concrete
Exterior: Brick, Aluminum/Vinyl

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

42d

Chatham listings, avg age

76d

List price

$700K

Haho

This multi-family in Chatham has been listed for 42 days, which is 34 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. · JEN ANDRUSIAK

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (N7L)

This home lists at $699,900, about 10.2× the local median household income of $68,500.

Carrying it typically needs a household income of about $136,715 (20% down, 25-yr amortization, stress-tested) — roughly 100% above the area median.

Median household income: $68,500
Population: 25,127
Median age: 47.2
Owner / renter: 66% / 34%
Avg. household size: 2.2

Source: Statistics Canada, 2021 Census (FSA N7L)

$699,900

For sale

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Full Cost Breakdown

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Down Payment6.43% · $44,990.00

Min 6.43%50%

Mortgage payment$3,631/mo

↳ CMHC premium ($26,196 capitalized)

Property tax (est.)$511/mo

Total monthly$4,142

Cash Needed to Close

Down payment (6.43%)$44,990

Land transfer tax$10,473

Est. closing costs$4,600

Total cash needed$60,063

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