$675,000

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1507 John Street Road, Thunder Bay - Multi-family for Sale

1507 John Street Road, Thunder Bay, Ontario, P7G1J1

7 beds4 baths0 parking

271 Wilson Street, Thunder Bay (Court / Cumberland), Ontario, P7B1N1

6 bd3 ba3 pk1,750 ft²Lot size 48 × 100 ft (4,810 sq ft)

Listed by Royal LePage® Lannon Realty

350 Bay Street, Thunder Bay (Court / Cumberland), Ontario, P7B1S3

For sale

20 days ago

$850K

350 Bay Street, Thunder Bay (Court / Cumberland), Ontario, P7B1S3

9 bd6 ba6 pk4,250 ft²Lot size 66 × 100 ft (6,600 sq ft)

Listed by Royal LePage® Lannon Realty

39-41 Junot Avenue South, Thunder Bay (Forest Park), Ontario, P7B4X5

For salePrice drop

43 days ago

$580K$600K

↓ $20K (3%) price drop

39-41 Junot Avenue South, Thunder Bay (Forest Park), Ontario, P7B4X5

8 bd4 ba6 pk1,750 ft²Lot size 70 × 94 ft (6,580 sq ft)

Listed by Royal LePage® Lannon Realty

320/322 May Street North, Thunder Bay (East End), Ontario, P7C3P9

For sale

64 days ago

$580K

320/322 May Street North, Thunder Bay (East End), Ontario, P7C3P9

Lot size 50 × 98 ft (4,900 sq ft)

Listed by Royal LePage® Lannon Realty

Investment analysis

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$675,000

Thunder Bay

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Overview

This multi-family property in Thunder Bay is for sale offering roughly 1,750 sq ft of space. It has been on the market 7 days, fresher than the Thunder Bay average of 108 days.

Multi-Family Properties for Sale in Thunder Bay →All real estate in Thunder Bay →

Description

New Listing! Single Family Home currently in the process of being converted into a triplex backing onto the McIntyre River with beautiful views from the back windows and deck, with a walkout basement and extra large lot. Buyer to assume renovations where they are currently at. Units are currently framed as follows: Unit 1 would feature a kitchen on the main and lower level, 3 plus 2 bedrooms and 2 baths with Unit 2 and 3 having each a kitchen, 1 bedroom and 1 bath. Building Plan by Peterson Design Consultants available for review. (id:66096)

Property Details

MLS®: X14123788
Property Type: Multi-family
Bedrooms: 7
Beds (above / below): 7 above · 0 below
Bathrooms: 4
Parking: 0
Interior Size: 1,750 ft²
Frontage: 79 ft
Storeys: 1
Style: Bungalow
Basement: Full, Walk out
Heating: Radiant heat, Forced air, Natural gas
Cooling: None
Garage: No Garage
Fireplace: Yes
Waterfront: Yes
Property Tax: $5,995.86/yr
Listed: 7 days ago

Features

Appliances: Water meter
Foundation: Unknown
Exterior: Stucco, Vinyl siding
Lot Features: Irregular lot size

Services

Water: Municipal water
Sewer: Sanitary sewer
Utilities: Sewer, Electricity

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

Thunder Bay listings, avg age

108d

Price / ft²

$386

List price

$675K

Homes here sell faster than most markets

Sold homes in this market spent an average of 24 days on the market over the past year, against a median of 48 days across the markets we publish.

Homes here sell close to asking price

Homes in this market sold for an average of 107.5 percent of their asking price over the past year, above the 96.4 percent median across the markets we publish.

Haho

This 7-bed multi-family in Thunder Bay has been listed for 7 days, which is 101 days fresher than the city average of 108. Act while there is still low competition.

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Listed by REMAX First Choice Realty Ltd. · Danielle Wilson

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (P7G)

This home lists at $675,000, about 5.8× the local median household income of $117,000.

Carrying it typically needs a household income of about $131,851 (20% down, 25-yr amortization, stress-tested) — roughly 13% above the area median.

Median household income: $117,000
Population: 13,238
Median age: 44.8
Owner / renter: 94% / 6%
Avg. household size: 2.6

Source: Statistics Canada, 2021 Census (FSA P7G)

$675,000· $386/ft²

For sale

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Full Cost Breakdown

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Down Payment6.30% · $42,500.00

Min 6.30%50%

Mortgage payment$3,507/mo

↳ CMHC premium ($25,300 capitalized)

Property tax (est.)$500/mo

Total monthly$4,006

Cash Needed to Close

Down payment (6.30%)$42,500

Land transfer tax$9,975

Est. closing costs$4,525

Total cash needed$57,000

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