$444,900

For sale

607 - 607A Cumberland Street, Cornwall - Multi-family for Sale

607 - 607A Cumberland Street, Cornwall, Ontario, K6J4J6

4 beds2 baths4 parking1,300 ft²89 × 44 ft (3,916 sq ft) lot sizeListed 12 days ago

Overview

This multi-family property in Cornwall is for sale offering roughly 1,300 sq ft of space. It has been on the market 12 days, fresher than the Cornwall average of 79 days.

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

Description

RENOVATED DOWNTOWN DUPLEX. Both units are vacant - an ideal opportunity for an owner-occupant who can choose their own tenant and use the rental income to help offset carrying costs, or for an investor seeking an income property. With the extensive renovations, the units should attract excellent tenants. The new owner can select tenants and set market rent. Both units feature new modern kitchens, new 4pc bathrooms, easy-to-maintain vinyl plank flooring , and separate forced-air gas furnaces with individual gas and electric meters for both utilities. The new exterior siding that was insulated before being installed for energy efficiency, and all windows and doors have been replaced during the renovation. With all renovations completed, the property is easy to maintain and find great tenants. Easy to show as both units are vacant. Seller has never occupied this property and requires SPIS signed & submitted with all offer(s) and 2 full business days irrevocable to review any/all offer(s). (id:66096)

Property Details

MLS®: X14111354
Property Type: Multi-family
Zoning: allows residential use
Bedrooms: 4
Beds (above / below): 4 above · 0 below
Bathrooms: 2
Parking: 4
Interior Size: 1,300 ft²
Lot Size: 89 × 44 ft (3,916 sq ft)
Frontage: 89 ft
Storeys: 2
Basement: Unfinished, N/A
Heating: Forced air, Natural gas
Cooling: None
Garage: No Garage
Property Tax: $2,446/yr
Listed: 12 days ago

Features

Appliances: Water meter, Water Heater
Foundation: Concrete
Exterior: Vinyl siding
Lot Features: Carpet Free

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

12d

Cornwall listings, avg age

79d

Price / ft²

$342

List price

$445K

Haho

This 4-bed multi-family in Cornwall has been listed for 12 days, which is 67 days fresher than the city average of 79. Act while there is still low competition.

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Listed by CAMERON REAL ESTATE BROKERAGE · JOHN A.(SANDY) CAMERON

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (K6J)

This home lists at $444,900, about 7.4× the local median household income of $60,400.

Carrying it typically needs a household income of about $86,905 (20% down, 25-yr amortization, stress-tested) — roughly 44% above the area median.

Median household income: $60,400
Population: 17,827
Median age: 46.8
Owner / renter: 54% / 46%
Avg. household size: 2.2

Source: Statistics Canada, 2021 Census (FSA K6J)

$444,900· $342/ft²

For sale

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Full Cost Breakdown

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Down Payment5% · $22,245

Min 5%50%

Mortgage payment$2,343/mo

↳ CMHC premium ($16,906 capitalized)

Property tax (est.)$204/mo

Total monthly$2,547

Cash Needed to Close

Down payment (5%)$22,245

Land transfer tax$5,373

Est. closing costs$3,835

Total cash needed$31,453

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