19 Prospect Avenue, Cobalt, Ontario, P0J1C0

For sale

22 days ago

$150K

19 Prospect Avenue, Cobalt, Ontario, P0J1C0

5 bd2 ba4 pk2,250 ft²Lot size 58 × 132 ft (7,633 sq ft)

Listed by CENTURY 21 TEMISKAMING PLUS BROKERAGE

2 Pyrite Street, Cobalt, Ontario, P0J1C0

For sale

189 days ago

$395K

2 Pyrite Street, Cobalt, Ontario, P0J1C0

11 bd4 ba4 pk2,250 ft²Lot size 105 × 157 ft (16,464 sq ft)

Listed by CENTURY 21 TEMISKAMING PLUS BROKERAGE

Investment analysis

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$139,900

Cobalt

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$139,900

For sale

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49 Cobalt Street, Cobalt - Multi-family for Sale

49 Cobalt Street, Cobalt, Ontario, P0J1C0

7 beds3 baths3 parking2,250 ft²36 × 135 ft (4,860 sq ft) lot sizeListed 60 days ago

Overview

This multi-family property in Cobalt is for sale offering roughly 2,250 sq ft of space. It has been on the market 60 days, fresher than the Cobalt average of 74 days.

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

Description

Fully rented tri-plex in a convenient downtown location, it's an excellent opportunity to add an affordable income property to your portfolio grossing a little over $39,825/yr in rents. The building offers two 3-bedroom units and one 1-bedroom unit, all currently rented with utilities included. Each unit features its own fridge, stove, washer and dryer. Recent improvements include a furnace (2019), new tin roof on second floor and rear siding (2019), and newer tin on the stairwell serving Unit #3 (2020). The building could use some TLC and is priced accordingly. The property also features a 40x36 vacant lot that could be cleared for more parking. Currently, there is one off-street parking space plus two street-side spaces. A solid investment opportunity for the right buyer! (id:66096)

Property Details

MLS®: T13748228
Property Type: Multi-family
Zoning: R
Bedrooms: 7
Beds (above / below): 7 above · 0 below
Bathrooms: 3
Parking: 3
Interior Size: 2,250 ft²
Lot Size: 36 × 135 ft (4,860 sq ft)
Frontage: 36 ft
Storeys: 2
Basement: Unfinished, N/A
Heating: Radiant heat, Forced air, Natural gas
Cooling: None
Garage: No Garage
Property Tax: $7,493.28/yr
Listed: 60 days ago

Features

Appliances: Washer, Refrigerator, Stove, Dryer
Foundation: Block
Exterior: Wood, Vinyl siding
Lot Features: Sloping

Services

Water: Municipal water
Sewer: Sanitary sewer
Utilities: Sewer, Electricity, Cable

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

60d

Cobalt listings, avg age

74d

Price / ft²

$62

List price

$140K

Homes here sell faster than most markets

Sold homes in this market spent an average of 34 days on the market over the past year, against a median of 48 days across the markets we publish.

Homes here sell below asking price

Homes in this market sold for an average of 86.0 percent of their asking price over the past year, below the 96.4 percent median across the markets we publish.

Haho

This 7-bed multi-family in Cobalt has been listed for 60 days, which is 14 days fresher than the city average of 74. Act while there is still low competition.

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Listed by CENTURY 21 TEMISKAMING PLUS BROKERAGE · Daniel Goudreault

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (P0J)

This home lists at $139,900, about 1.9× the local median household income of $72,500.

Carrying it typically needs a household income of about $27,327 (20% down, 25-yr amortization, stress-tested) — within reach of the area median.

Median household income: $72,500
Population: 20,179
Median age: 47.6
Owner / renter: 78% / 23%
Avg. household size: 2.3

Source: Statistics Canada, 2021 Census (FSA P0J)

$139,900· $62/ft²

For sale

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Full Cost Breakdown

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Down Payment5% · $6,995

Min 5%50%

Mortgage payment$737/mo

↳ CMHC premium ($5,316 capitalized)

Property tax (est.)$624/mo

Total monthly$1,361

Cash Needed to Close

Down payment (5%)$6,995

Land transfer tax$1,124

Est. closing costs$2,920

Total cash needed$11,039

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