238 Elm Street South, Timmins (TS - SE), Ontario, P4N1X1

For sale

19 days ago

$325K

238 Elm Street South, Timmins (TS - SE), Ontario, P4N1X1

4 bd2 ba3 pk1,750 ft²Lot size 30 × 94 ft (2,820 sq ft)

Listed by EXP REALTY OF CANADA INC.

201-203 Balsam Street, Timmins (TS - SE), Ontario, P4N2E3

For sale

167 days ago

$405K

201-203 Balsam Street, Timmins (TS - SE), Ontario, P4N2E3

6 bd6 baLot size 30 × 56 ft (1,689 sq ft)

Listed by REVEL REALTY INC.

Investment analysis

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$199,900

Timmins

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Description

This spacious 6-bedroom, 2-bathroom duplex in downtown Timmins offers a great investment opportunity with long-term tenants in place. The property features two separate units, each with 3 bedrooms, its own kitchen, bathroom and laundry, providing consistent rental income. The main floor is currently rented at $975.00 per month + hydro and the upper floor is currently rented at $1,000.00 per month + hydro with the landlord paying the heat ($2,159.49/year). While the duplex may require some updates and maintenance, it is ideally located close to downtown amenities, shops, and transit, ensuring easy access for tenants. This property also features an unfinished basement and attached storage room. With stable occupancy and potential for future improvements, this property is perfect for investors seeking a reliable income stream and future growth. This property also has the potential to host another unit, upon city approval. (id:66096)

Property Details

MLS®: T13039758
Property Type: Multi-family
Zoning: NA-R3
Bedrooms: 6
Beds (above / below): 6 above · 0 below
Bathrooms: 2
Parking: 3
Lot Size: 30 × 114 ft (3,420 sq ft)
Frontage: 30 ft
Storeys: 2
Basement: Unfinished, N/A
Heating: Natural gas
Cooling: None
Garage: No Garage
Property Tax: $3,097.42/yr
Listed: 194 days ago

Rooms

Main level

Kitchen: 3.63 x 3.35 meters
Living room: 4.57 x 2.84 meters
Bedroom: 3.73 x 2.79 meters
Bedroom 2: 2.84 x 2.18 meters
Bedroom 3: 2.66 x 2.26 meters

Upper Level

Bedroom 3: 6.62 x 2.69 meters
Kitchen: 5.99 x 3.6 meters
Dining room: 4.52 x 2.74 meters
Living room: 3.32 x 2.81 meters
Bedroom: 3.22 x 2.81 meters
Bedroom 2: 6.62 x 2.97 meters

Room details as supplied by the listing brokerage. Dimensions are shown in the unit the listing states, and are approximate.

Market Timing

Days on market

194d

Timmins (TS - SE) listings, avg age

81d

List price

$200K

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 $199,900, about 2.7× the local median household income of $73,500.

Carrying it typically needs a household income of about $39,047 (20% down, 25-yr amortization, stress-tested) — within reach of 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)

$199,900

For sale

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Full Cost Breakdown

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Down Payment5% · $9,995

Min 5%50%

Mortgage payment$1,053/mo

↳ CMHC premium ($7,596 capitalized)

Property tax (est.)$258/mo

Total monthly$1,311

Cash Needed to Close

Down payment (5%)$9,995

Land transfer tax$1,724

Est. closing costs$3,100

Total cash needed$14,819

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388 Pine Street, Timmins (TS - SE) - Multi-family for Sale

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