$409,900

$429,900For salePrice drop↓ $20,000 (5%)

229 Cecelia Street, Pembroke - Multi-family for Sale

229 Cecelia Street, Pembroke, Ontario, K8A1R8

4 beds2 baths2 parking2,250 ft²36 × 73 ft (2,621 sq ft) lot sizeListed 81 days ago

Overview

This multi-family property in Pembroke is for sale offering roughly 2,250 sq ft of space. It has been on the market 81 days, fresher than the Pembroke average of 122 days.

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Description

Investment opportunity in the heart of Pembroke's East End! This up-and-down duplex offers approximately ~2,387 sq. ft. above grade, with an approximate ~1,200 sq. ft main-floor unit and an approximate ~1,187 sq. ft. upper unit. Each spacious unit features two bedrooms, hardwood floors and its own fireplace. Both currently rent for $1,600 per month, generating $38,400 in gross annual rental income. Tenants pay their own separately metered hydro. Updates completed in 2024 include a roof, vinyl windows on the lower half of the home, bedroom flooring. Set on a small, very low-maintenance lot with two rear parking spaces. Basement storage provides potential space for future coin-operated laundry, offering an opportunity to generate additional income! A luxury six-unit residential building is being constructed next door, adding to the area's ongoing investment and development. Walk to Algonquin College, Metro, Circle K, restaurants and McDonald's, with schools, parks, Pembroke Regional Hospital and a police station nearby! A solid addition to any investment portfolio! (id:66096)

Property Details

MLS®: X13680000
Property Type: Multi-family
Zoning: R2
Bedrooms: 4
Beds (above / below): 4 above · 0 below
Bathrooms: 2
Parking: 2
Interior Size: 2,250 ft²
Lot Size: 36 × 73 ft (2,621 sq ft)
Frontage: 36 ft
Storeys: 2
Basement: Unfinished, N/A
Heating: Radiant heat, Natural gas
Cooling: None
Garage: No Garage
Fireplace: Yes
Property Tax: $4,042/yr
Listed

Features

Appliances: Two stoves, Two Refrigerators
Foundation: Poured Concrete
Exterior: Wood, Stucco
Lot Features: Irregular lot size, Carpet Free

Services

Water: Municipal water
Sewer: Sanitary sewer

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

81d

Pembroke listings, avg age

122d

Price / ft²

$182

List price

$410K

Homes here sell close to asking price

Homes in this market sold for an average of 97.6 percent of their asking price over the past year, above the 96.4 percent median across the markets we publish.

Haho

This 4-bed multi-family in Pembroke has been listed for 81 days, which is 41 days fresher than the city average of 122. Act while there is still low competition.

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Listed by ROYAL LEPAGE TEAM REALTY · Allie Neilson-Sewell

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (K8A)

This home lists at $409,900, about 5.5× the local median household income of $75,000.

Carrying it typically needs a household income of about $80,068 (20% down, 25-yr amortization, stress-tested) — roughly 7% above the area median.

Median household income: $75,000
Population: 26,392
Median age: 45.6
Owner / renter: 70% / 30%
Avg. household size: 2.3

Source: Statistics Canada, 2021 Census (FSA K8A)

$409,900· $182/ft²

For sale

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Full Cost Breakdown

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Down Payment5% · $20,495

Min 5%50%

Mortgage payment$2,159/mo

↳ CMHC premium ($15,576 capitalized)

Property tax (est.)$337/mo

Total monthly$2,496

Cash Needed to Close

Down payment (5%)$20,495

Land transfer tax$4,673

Est. closing costs$3,730

Total cash needed$28,898

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