$625,000

$650,000For salePrice drop↓ $25,000 (4%)

492 Vernon Avenue, Ottawa - Single Family for Sale

492 Vernon Avenue, Ottawa, Ontario, K1K1A6

5 beds1 bath4 parking1,300 ft²40 × 105 ft (4,155 sq ft) lot sizeListed 46 days ago

Overview

This 5-bedroom, 1-bathroom home in Ottawa is for sale offering roughly 1,300 sq ft of space. Listed at $625,000, it is attractively priced about 17% below the $749,900 median asking price in Ottawa. It has been on the market 46 days, fresher than the Ottawa average of 62 days.

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Description

Investor Alert! Welcome to 492 Vernon Avenue on a quiet residential street within walking distance to St. Laurent recreational complex. An exceptional opportunity for investors, developers, or buyers looking to unlock incredible future potential. This estate sale offers a rare chance to acquire a single-family home situated on a generous lot with the opportunity to renovate the existing layout into two one-bedroom basement apartments, creating a triplex opportunity. The upper level has 3 bedrooms and the lower level has 2 one-bedroom apartments ready to renovate with the existing layout. Can also be converted to a family home. Zoning is R3A, R4B. Whether you're looking to expand your investment portfolio, generate rental income, or maximize the property's potential, this is an opportunity you won't want to miss. Ideally located just minutes from downtown Ottawa and close to schools, parks, public transit, shopping, restaurants, hospital and all essential amenities. Property is being sold AS-IS where-is, with no representations or warranties by the Estate. (id:66096)

Property Details

MLS®: X13812108
Property Type: Single Family
Bedrooms: 5
Beds (above / below): 3 above · 2 below
Bathrooms: 1
Parking: 4
Interior Size: 1,300 ft²
Lot Size: 40 × 105 ft (4,155 sq ft)
Frontage: 40 ft
Storeys: 1
Style: Bungalow
Basement: Unfinished, Full, N/A
Heating: Natural gas, Other
Cooling: None
Garage: Garage, Carport
Fireplace: Yes
Ownership: Freehold
Property Tax

Features

Foundation: Block
Exterior: Brick, Stone

Services

Water: Municipal water
Sewer: Sanitary sewer

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

46d

Ottawa listings, avg age

62d

Price / ft²

$481

List price

$625K

Haho

This 5-bed single family in Ottawa has been listed for 46 days, which is 16 days fresher than the city average of 62. Act while there is still low competition.

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Listed by RE/MAX HALLMARK REALTY GROUP · Josee Blaskie

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (K1K)

This home lists at $625,000, about 8.5× the local median household income of $73,500.

Carrying it typically needs a household income of about $122,084 (20% down, 25-yr amortization, stress-tested) — roughly 66% above the area median.

Median household income: $73,500
Population: 32,046
Median age: 42.4
Owner / renter: 41% / 59%
Avg. household size: 2.2

Source: Statistics Canada, 2021 Census (FSA K1K)

$625,000· $481/ft²

For sale

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Full Cost Breakdown

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Down Payment6% · $37,500

Min 6%50%

Mortgage payment$3,257/mo

↳ CMHC premium ($23,500 capitalized)

Property tax (est.)$407/mo

Total monthly$3,664

Cash Needed to Close

Down payment (6%)$37,500

Land transfer tax$8,975

Est. closing costs$4,375

Total cash needed$50,850

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