715 Gerard Street, Alfred and Plantagenet, ON K0B 1L0
Alfred and Plantagenet, ON K0B 1L0
About this property
INVESTMENT OPPORTUNITY | LEGAL DUPLEX | ~5.0% CAP RATE | CASH FLOW POSITIVE. Welcome to 715 Gerard Street - a legal, income-producing duplex in the heart of Alfred and Plantagenet, offering the rare combination of strong cash flow, a built-in mortgage helper, and flexibility for both investors and future owner-occupants.This turnkey property features two self-contained units. The upper unit will be delivered vacant at closing, with an established market rent of $2,000/month - giving a buyer the choice to rent it out immediately or move in themselves and let the lower unit carry a significant share of the mortgage. The lower unit is home to an excellent, long-standing tenant paying $1,500/month, who is happy to stay on. With both tenants responsible for their own utilities (other than water) and estimated operating expenses of approximately $1,200/month, this property delivers an impressive cap rate of approximately 5.0% and positive cash flow from day one - a rare find in today's market. For the investor, it's a fully tenanted (or nearly so) income property with room to grow. For the owner-occupant, it's a mortgage buster: live upstairs, rent the lower unit, and enjoy monthly housing costs far below what you'd pay renting a comparable home outright. Upper Unit: 3 bedrooms, 1 bathroom, large eat-in kitchen, spacious living room, and a private yard. Lower Unit: 2 bedrooms, 1 bathroom, large kitchen, spacious living room, and its own private yard. Set on an oversized 94' x 94.62' lot with a carport, the property is centrally located in Alfred and Plantagenet, close to all local amenities, just 20 minutes to Rockland, and 45 minutes to Ottawa.Recent updates include: new roof (2021), new furnace and hot water tank, new flooring (2013), and new windows throughout (excluding the bay window and patio doors).
Property facts & features
- Property type
- Detached
- MLS® number
- X13830206
- Source status
- New
- Bedrooms
- 5
- Bathrooms
- 2
- Reported interior area
- Not provided
- Neighbourhood
- Not provided
- Postal code
- K0B 1L0
- Parking spaces
- 4
- Garage
- Carport
- Lot depth (source units)
- 94.62
- Annual property tax
- 3202
- Basement
- Separate Entrance, Apartment
- Laundry
- Not provided
- Interior features
- Accessory Apartment
- Exterior features
- Not provided
Values and units are reported by the listing source. Verify measurements and fees with the brokerage.
Floor plans & room measurements
Floor plans and verified room measurements are not available for this property.
Property value & listing history
New · $569,999
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Explore active properties in Alfred and Plantagenet →Listing brokerage: RIGHT AT HOME REALTY. Displayed by EnterHome Realty. Source: authorized IDX record, MLS® X13830206. Information deemed reliable but not guaranteed.