$449,900

For sale

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Address not available, Sault Ste. Marie - Multi-family for Sale

Sault Ste. Marie, Ontario, P6C3T4

2,250 ft²Listed 118 days ago

Overview

This multi-family property in Sault Ste. Marie is for sale offering roughly 2,250 sq ft of space.

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Investment analysis

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$449,900

Sault Ste. Marie

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Description

Great investment opportunity with this 4 unit apartment building located in the west end of the city. Features 2-2 bedroom units, 2-1 bedroom units, detached garage with potential for further income, separate entrances, 4 power meters,3 water meters and plenty of parking. Recent updates include updated one bedroom unit in the lower level, updated 2 bedroom unit on the main level, new gas boiler system(2023), newer basement windows (2022), shingles (2021), some updated lighting and plumbing throughout, as well as regrading the parking. This is a solid build with little to nothing to do for the new owner. Call today! (id:66096)

Market Timing

Days on market

118d

Sault Ste. Marie listings, avg age

54d

Price / ft²

$200

List price

$450K

Homes here sell faster than most markets

Sold homes in this market spent an average of 26 days on the market over the past year, against a median of 48 days across the markets we publish.

Area context

Neighbourhood profile (P6C)

This home lists at $449,900, about 6.3× the local median household income of $71,500.

Carrying it typically needs a household income of about $87,881 (20% down, 25-yr amortization, stress-tested) — roughly 23% above the area median.

Median household income: $71,500
Population: 18,766
Median age: 46.4
Owner / renter: 74% / 26%
Avg. household size: 2.2

Source: Statistics Canada, 2021 Census (FSA P6C)

$449,900· $200/ft²

For sale

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Full Cost Breakdown

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Down Payment5% · $22,495

Min 5%50%

Mortgage payment$2,370/mo

↳ CMHC premium ($17,096 capitalized)

Property tax (est.)$276/mo

Total monthly$2,645

Cash Needed to Close

Down payment (5%)$22,495

Land transfer tax$5,473

Est. closing costs$3,850

Total cash needed$31,818

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Rates via our partner mortgage brokers at iShopRates · Estimates only, not financial advice

Address not available, Sault Ste. Marie - Multi-family for Sale

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