$339,900

For saleJust listed

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

Sault Ste. Marie, Ontario, P6B2K5

1,850 ft²Listed Today

Overview

This multi-family property in Sault Ste. Marie is for sale offering roughly 1,850 sq ft of space. It has been on the market 0 days, fresher than the Sault Ste. Marie average of 54 days.

292 PIM Street, Sault Ste. Marie, Ontario, P6B2T5

1 bd1 ba4 pk2,140 ft²Lot size 2,178 sq ft

Listed by Royal LePage Burloak Real Estate Services

14 ABBOTT Street, Sault Ste. Marie, Ontario, P6A2V9

For saleJust listed

5 days ago

$130K

14 ABBOTT Street, Sault Ste. Marie, Ontario, P6A2V9

1 bd1 ba2 pk1,401 ft²

Listed by Royal LePage Burloak Real Estate Services

For saleJust listed

5 days ago

$130K

Sault Ste. Marie, Ontario, P6A2V9

1,401 ft²

Listed by Royal LePage® Northern Advantage

For saleJust listed

6 days ago

$170K

Sault Ste. Marie, Ontario, P6B2T5

2,140 ft²

Listed by Century 21 Choice Realty Inc.

Investment analysis

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$339,900

Sault Ste. Marie

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Description

Income Opportunity! This solid downtown triplex features three units, with 2-2 bedroom units and 1-1 bedroom unit. The property also offers gas forced air heating in unit 1, electric baseboard heating in units 2 and 3 & separate hydro meters. Landlord pays hot water tank rental and water usage. All rents are plus utilities. The main-floor unit is vacant and ready for an owner-occupant or investor to set their own rental rate. Conveniently located close to downtown amenities, this property offers excellent income potential. The owner is willing to provide property management if desired by the buyer. (id:66096)

Market Timing

Days on market

Sault Ste. Marie listings, avg age

54d

Price / ft²

$184

List price

$340K

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 (P6B)

This home lists at $339,900, about 4.9× the local median household income of $69,000.

Carrying it typically needs a household income of about $66,394 (20% down, 25-yr amortization, stress-tested) — within reach of the area median.

Median household income: $69,000
Population: 22,754
Median age: 48
Owner / renter: 65% / 35%
Avg. household size: 2.1

Source: Statistics Canada, 2021 Census (FSA P6B)

$339,900· $184/ft²

For sale

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Full Cost Breakdown

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Down Payment5% · $16,995

Min 5%50%

Mortgage payment$1,790/mo

↳ CMHC premium ($12,916 capitalized)

Property tax (est.)$312/mo

Total monthly$2,102

Cash Needed to Close

Down payment (5%)$16,995

Land transfer tax$3,574

Est. closing costs$3,520

Total cash needed$24,089

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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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