$499,999

For sale

516 4th Avenue East, Owen Sound - Multi-family for Sale

516 4th Avenue East, Owen Sound, Ontario, N4K2N2

5 beds2 baths3 parking2,250 ft²35 × 103 ft (3,605 sq ft) lot sizeListed 12 days ago

Overview

This multi-family property in Owen Sound is for sale offering roughly 2,250 sq ft of space. It has been on the market 12 days, fresher than the Owen Sound average of 92 days.

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Description

Full of charm, character, and investment potential, this solid red brick 2.5-storey home offers over 2,000 square feet of living space and is currently tenanted and operating as a duplex, with two separate living areas. The main floor features a spacious living room, full kitchen, and a bedroom or office space. Upstairs, you'll find three additional bedrooms, a 3-piece bathroom, and a second kitchen, providing a separate living space. The finished attic/loft offers additional flexibility for storage, a home office, bedrooms or creative space. With two separate entrances and a layout suited to multi-unit living, this property presents an excellent opportunity for investors looking to add to their portfolio. Outside, enjoy a private backyard, large deck, classic covered front porch, and driveway parking for up to three vehicles. Located in a mature neighbourhood close to schools, shopping, public transit, and downtown amenities, this property combines timeless character with the potential of an income-generating investment. (id:66096)

Property Details

MLS®: X14111342
Property Type: Multi-family
Bedrooms: 5
Beds (above / below): 5 above · 0 below
Bathrooms: 2
Parking: 3
Interior Size: 2,250 ft²
Lot Size: 35 × 103 ft (3,605 sq ft)
Frontage: 35 ft
Storeys: 2
Basement: Apartment in basement, Separate entrance, N/A, N/A
Heating: Forced air, Natural gas
Cooling: Central air conditioning, Wall unit
Garage: No Garage
Property Tax: $3,964/yr
Listed: 12 days ago

Rooms

Main level

Other: 2.62 x 1.76 meters
Living room: 4.38 x 5.07 meters
Kitchen: 3.85 x 3.27 meters
Bedroom: 3.85 x 3.56 meters
Bathroom: 1.65 x 2.26 meters
Study: 2.31 x 2.26 meters
Foyer: 2.46 x 2.23 meters

Second level

Bedroom: 2.71 x 4.56 meters
Living room: 3.83 x 3 meters
Dining room: 3.51 x 2.37 meters

Features

Appliances: Washer, Water meter, Dishwasher, Dryer, Two stoves, Water Heater, Two Refrigerators
Foundation: Stone
Exterior: Brick
Lot Features: Flat site, In-Law Suite

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

Owen Sound listings, avg age

92d

Price / ft²

$222

List price

$500K

Haho

This 5-bed multi-family in Owen Sound has been listed for 12 days, which is 80 days fresher than the city average of 92. Act while there is still low competition.

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Listed by RE/MAX Grey Bruce Realty Inc. · MITCH KAUFMAN

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (N4K)

This home lists at $499,999, about 7.2× the local median household income of $69,500.

Carrying it typically needs a household income of about $97,667 (20% down, 25-yr amortization, stress-tested) — roughly 41% above the area median.

Median household income: $69,500
Population: 28,975
Median age: 49.2
Owner / renter: 66% / 34%
Avg. household size: 2.2

Source: Statistics Canada, 2021 Census (FSA N4K)

$499,999· $222/ft²

For sale

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Full Cost Breakdown

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Down Payment5% · $24,999.95

Min 5%50%

Mortgage payment$2,633/mo

↳ CMHC premium ($19,000 capitalized)

Property tax (est.)$330/mo

Total monthly$2,964

Cash Needed to Close

Down payment (5%)$25,000

Land transfer tax$6,475

Est. closing costs$4,000

Total cash needed$35,475

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