$499,900

For sale

1522 LILLIAN Avenue, Windsor - Single Family for Sale

1522 LILLIAN Avenue, Windsor, Ontario, N8X4A8

6 beds3 baths2,831 sq ft lot sizeListed 38 days ago

Overview

This 6-bedroom, 3-bathroom home in Windsor is for sale. Its $499,900 asking price sits right in line with the $479,900 median in Windsor. It has been on the market 38 days, fresher than the Windsor average of 69 days.

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Description

WELCOME TO 1522 LILLIAN STREET, A FANTASTIC INVESTMENT OPPORTUNITY FEATURING TWO TENANTED LIVING SPACES AND STRONG EXISTING RENTAL INCOME. THIS SPACIOUS 2-STOREY HOME OFFERS A FUNCTIONAL AND VERSATILE LAYOUT, MAKING IT AN EXCELLENT ADDITION TO ANY INVESTOR'S PORTFOLIO. THE MAIN/UPPER UNIT FEATURES A BRIGHT OPEN-CONCEPT LIVING AND DINING AREA, 4 GENEROUSLY SIZED BEDROOMS LOCATED ON THE UPPER LEVEL, AND 1.5 BATHROOMS, PROVIDING PLENTY OF SPACE FOR COMFORTABLE EVERYDAY LIVING. THE LOWER LEVEL OFFERS AN ADDITIONAL 2 BEDROOMS AND 1 FULL BATHROOM, CREATING A SEPARATE LIVING SPACE WITH GREAT INCOME POTENTIAL. BOTH UNITS ARE CURRENTLY TENANTED, WITH THE MAIN UNIT RENTED FOR $2,500 PER MONTH AND THE LOWER LEVEL RENTED FOR $1,500 PER MONTH, PROVIDING A COMBINED RENTAL INCOME OF $4,000 PER MONTH. AN EXCELLENT OPPORTUNITY FOR INVESTORS LOOKING FOR AN INCOME-PRODUCING PROPERTY WITH TENANTS ALREADY IN PLACE. WHETHER YOU'RE LOOKING TO EXPAND YOUR EXISTING PORTFOLIO OR STEP INTO THE INVESTMENT MARKET! (id:66096)

Property Details

MLS®: 26023851
Property Type: Single Family
Zoning: RES
Bedrooms: 6
Beds (above / below): 4 above · 2 below
Bathrooms: 3
Half Baths: 1
Lot Size: 2,831 sq ft
Year Built: 2020
Storeys: 2
Heating: Forced air, Natural gas, Furnace
Cooling: Central air conditioning
Ownership: Freehold
Listed: 38 days ago

Rooms

Basement

Utility room
4pc Bathroom
Bedroom
Bedroom

Second level

4pc Bathroom
Bedroom
Bedroom
Bedroom
Bedroom

Main level

2pc Bathroom
Kitchen
Dining room
Kitchen
Foyer

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

Features

Appliances: Washer, Refrigerator, Stove, Dryer
Flooring: Laminate, Ceramic/Porcelain, Cushion/Lino/Vinyl
Foundation: Concrete
Exterior: Aluminum/Vinyl
Lot Features: Side Driveway

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

38d

Windsor listings, avg age

69d

List price

$500K

Haho

This 6-bed single family in Windsor has been listed for 38 days, which is 31 days fresher than the city average of 69. Act while there is still low competition.

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Listed by REMAX CAPITAL DIAMOND REALTY · ALBERT KANTARJIAN

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (N8X)

This home lists at $499,900, about 8.3× the local median household income of $60,000.

Carrying it typically needs a household income of about $97,648 (20% down, 25-yr amortization, stress-tested) — roughly 63% above the area median.

Median household income: $60,000
Population: 16,457
Median age: 39.2
Owner / renter: 52% / 48%
Avg. household size: 2.2

Source: Statistics Canada, 2021 Census (FSA N8X)

$499,900

For sale

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Full Cost Breakdown

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Down Payment5% · $24,995

Min 5%50%

Mortgage payment$2,633/mo

↳ CMHC premium ($18,996 capitalized)

Est. property tax$417/mo

Total monthly$3,050

Cash Needed to Close

Down payment (5%)$24,995

Land transfer tax$6,473

Est. closing costs$4,000

Total cash needed$35,468

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