$447,000

For sale

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314 Birch Street North, Timmins (TNE - Central) - Multi-family for Sale

314 Birch Street North, Timmins (TNE - Central), Ontario, P4N6S6

7 beds4 baths4 parking ft²

261 North Elm Street North, Timmins (TNE - Central), Ontario, P4N6B1

4 bd2 ba3 pk900 ft²Lot size 30 × 90 ft (2,703 sq ft)

Listed by RE/MAX CROWN REALTY (1989) INC

152 Fifth Avenue, Timmins (TNE - Central), Ontario, P4N5K9

For sale

145 days ago

$739K

152 Fifth Avenue, Timmins (TNE - Central), Ontario, P4N5K9

9 bd8 ba4 pk4,250 ft²Lot size 30 × 120 ft (3,600 sq ft)

Listed by REALTY NETWORKS INC.

Investment analysis

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$447,000

Timmins

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Description

Well-maintained 4-unit multiplex on a large lot with laneway access and a detached garage.Features two 2-bedroom units on the main floor, one 2-bedroom and one 1-bedroom unit in thebasement. All units are occupied with tenants paying rent on time. Recent updates include newdoor seals throughout, plus a new door, windows, flooring, fridge, and paint in Unit 4 (Feb.2023). Awning installed for Unit 3 in Nov. 2023. Baseboard heating; hydro and heat paid bytenants. Gross annual income of approximately $49,020 an attractive 7% to 8% cap rate,including garage rental. Great income-producing investment opportunity (id:66096)

Property Details

MLS®: T13863352
Property Type: Multi-family
Zoning: NA-R3
Bedrooms: 7
Beds (above / below): 4 above · 3 below
Bathrooms: 4
Parking: 4
Interior Size: 1,300 ft²
Lot Size: 60 × 113 ft (6,750 sq ft)
Frontage: 60 ft
Storeys: 2
Basement: Apartment in basement, Separate entrance, N/A, N/A
Heating: Baseboard heaters, Electric
Cooling: None
Garage: Attached Garage, Garage
Property Tax: $5,244.19/yr
Listed: 30 days ago

Market Timing

Days on market

30d

Timmins (TNE - Central) listings, avg age

98d

Price / ft²

$344

List price

$447K

Homes here sell faster than most markets

Sold homes in this market spent an average of 36 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 103.6 percent of their asking price over the past year, above the 96.4 percent median across the markets we publish.

Area context

Neighbourhood profile (P4N)

This home lists at $447,000, about 6.1× the local median household income of $73,500.

Carrying it typically needs a household income of about $87,315 (20% down, 25-yr amortization, stress-tested) — roughly 19% above the area median.

Median household income: $73,500
Population: 24,098
Median age: 42.8
Owner / renter: 61% / 39%
Avg. household size: 2.2

Source: Statistics Canada, 2021 Census (FSA P4N)

$447,000· $344/ft²

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Full Cost Breakdown

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Down Payment5% · $22,350

Min 5%50%

Mortgage payment$2,354/mo

↳ CMHC premium ($16,986 capitalized)

Property tax (est.)$437/mo

Total monthly$2,791

Cash Needed to Close

Down payment (5%)$22,350

Land transfer tax$5,415

Est. closing costs$3,841

Total cash needed$31,606

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

314 Birch Street North, Timmins (TNE - Central) - Multi-family for Sale

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