$535,000
Chelmsford
Chelmsford, Ontario, P0M1L0
This multi-family property in Chelmsford is for sale. It has been on the market 1 day, fresher than the Chelmsford average of 125 days.
Calling all investors and house-hackers! This legal nonconforming 3-unit bungalow in the bustling core of Chelmsford is a rare find, offering above an 8% cap rate. Generating a gross annual income of about $57,600 and a Net Operating Income of around $44,679, this meticulously maintained 1958 property is fully tenanted by reliable, long-term renters who treat the home with care. Offering 1,320 sq. ft. of above-grade living space and a fully finished 1,320 sq. ft. lower level, the property provides a proven layout for strong rental income. It features an attached garage, a convenient carport for tenant parking, and numerous recent updates (full list available through your realtor). Outside, a fully fenced backyard offers a secure, private space perfect for summer BBQs and cozy evening fires. Situated in a highly walkable location that guarantees low vacancy rates, the property provides residents with immediate access to public transit, commercial services, schools, shopping. Unit 1 can be vacant upon closing (Main Floor, 2 Bed / 1 Bath): A sprawling suite featuring a spacious living room, a large eat-in kitchen, and convenient side-entrance access to the basement. Currently rented at $1,900/month (inclusive). Unit 2 (Main Floor, 1 Bed / 1 Bath): A cozy, highly rentable suite perfectly sized for a single professional or a couple. Currently rented at $1,100/month (inclusive). Unit 3 can be vacant upon closing (Lower Level, 1 Large Bed / 1 Bath): A bright and inviting basement suite showcasing an open-concept kitchen and living area, plus a generously sized bedroom. Currently rented at $1,800/month (inclusive). Whether you are looking to add a reliable, high-performing multi-family property to your investment portfolio or hoping to live in one unit while the others pay your mortgage, this property offers exceptional income potential. Book your showing today! (id:66096)
Features and services as supplied by the listing brokerage.
Just listed: 1 day on market, against an average age of 125 days across the listings currently for sale in this city
This multi-family in Chelmsford has been listed for 1 day, which is 124 days fresher than the city average of 125. Act while there is still low competition.
Approximate location — exact address confirmed upon showing
This home lists at $535,000, about 6.2× the local median household income of $86,000.
Carrying it typically needs a household income of about $104,504 (20% down, 25-yr amortization, stress-tested) — roughly 22% above the area median.
Source: Statistics Canada, 2021 Census (FSA P0M)
Pick a time that suits you. A verified local agent confirms within 24h.
Loading rates, 30-yr amortization
Cash Needed to Close
Rates via our partner mortgage brokers at iShopRates · Estimates only, not financial advice
Estimate the monthly cashflow if you bought this home as a rental. Every figure below is an editable estimate. This is education only, not financial advice.
Enter the monthly rent you expect, or adjust our estimate.
Enter an estimated monthly rent to see the cashflow.
Estimates only, not a mortgage approval or financial advice. Rate, taxes, and allowances are assumptions you can edit above.
