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$3,495,000
North Bay
14 Milford Crescent, North Bay (Ferris), Ontario, P1A1M3
This multi-family property in North Bay is for sale. It has been on the market 14 days, fresher than the North Bay average of 55 days.
Turnkey investment opportunity with strong cash flow located on a quiet street just off Lakeshore dr. Total of 12 Units (11-2 Bedrooms/1-1 Bedroom) This turnkey 12-unit residential purpose built complex delivers immediate cash flow and has seen major renovations to every unit including all kitchens, bathrooms, flooring, trim, lighting, paint and more. Cap rate at 6.27%, Gross rental income is $305,709.12 with expenses (including management, vacancy, and maintenance) estimated at $86,470, resulting in a solid net income before financing of $219,239. Other notable features are: All rents plus hydro, hot water boiler system, 13 parking spaces and security doors. Within walking distance bus route on Lakeshore dr, restaurants, shopping mall, Shoppers Drug mart, Cineplex and Lake Nipissing access close by. Immediate cash flow after mortgage payment plus significant principle recapture makes this a solid investment opportunity. Photos are previous to tenants moving in. (id:66096)
Features and services as supplied by the listing brokerage.
Active: 14 days on market, against an average age of 55 days across the listings currently for sale in this city
Homes here sell faster than most markets
Sold homes in this market spent an average of 27 days on the market over the past year, against a median of 48 days across the markets we publish.
Homes here sell close to asking price
Homes in this market sold for an average of 98.6 percent of their asking price over the past year, above the 96.4 percent median across the markets we publish.
This 23-bed multi-family in North Bay (Ferris) has been listed for 14 days, which is 41 days fresher than the city average of 55. Act while there is still low competition.
Approximate location — exact address confirmed upon showing
This home lists at $3,495,000, about 47.2× the local median household income of $74,000.
Carrying it typically needs a household income of about $682,696 (20% down, 25-yr amortization, stress-tested) — roughly 823% above the area median.
Source: Statistics Canada, 2021 Census (FSA P1A)
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Loading rates, 30-yr amortization
Cash Needed to Close
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