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$775,000
West Elgin
222 Furnival Road, West Elgin (Rodney), Ontario, N0L2C0
This multi-family property in West Elgin is for sale offering roughly 3,250 sq ft of space. It has been on the market 91 days, fresher than the West Elgin average of 186 days.
This well-maintained building in the heart of Rodney presents an excellent investment opportunity. With a Net Operating Income of $61,368 annually, the property consists of 5 residential units and 1 commercial unit. The commercial space, currently leased to a popular local restaurant serves as a strong anchor for the building's overall value. The property spans approximately 3,500 square feet on the main level, including rear garage space, offering a flexible layout for both residential and commercial tenants. Four out of the five residential units are currently tenanted, providing steady rental income. Additional features include separate hydro meters, gas heating and cooling systems, along with an updated boiler system (2022). This property combines strong income potential with a prime location in a thriving community, making it an ideal addition to any investment portfolio. (id:66096)
Features and services as supplied by the listing brokerage.
Long Listed: 91 days on market, against an average age of 186 days across the listings currently for sale in this city
This 7-bed multi-family in West Elgin (Rodney) has been listed for 91 days, which is 95 days fresher than the city average of 186. Act while there is still low competition.
Approximate location — exact address confirmed upon showing
This home lists at $775,000, about 7.8× the local median household income of $100,000.
Carrying it typically needs a household income of about $151,385 (20% down, 25-yr amortization, stress-tested) — roughly 51% above the area median.
Source: Statistics Canada, 2021 Census (FSA N0L)
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Loading rates, 30-yr amortization
Cash Needed to Close
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