3-5 N Mary Street N, Smiths Falls, ON K7A 3R6

About this property

INVESTOR OPPORTUNITY! Income-producing two-unit property offering strong current rental income, substantial recent capital investment and future value-add potential. The two fully renovated units generate $4,375/month in current gross rent, or $52,500 annually, with 0% current vacancy/credit loss and a history of rents being paid on time or early. Improvements and repairs over the past 3-4 years, including fully renovated units, new appliances, replacement windows, newer furnaces, plumbing improvements, basement sump pumps and additional updates.The 4-bedroom, 1.5-bath unit at 3 Mary features a fenced backyard, parking, unfinished basement and furnace installed in 2024. The 3-bedroom, 1.5-bath unit at 5 Mary offers a large fenced backyard, generous driveway parking, unfinished basement and furnace installed in 2024. Tenants pay gas and hydro directly, while lawn/yard maintenance and snow removal are tenant responsibilities.The property offers approximately $52,500 in current annual gross rental income and a 10.50% gross rental yield based on the 2024 appraised value of $500,000. Potential future upside may include rental optimization, additional property improvements and investigation of severance/land-use potential, subject to municipal approvals and due diligence.An excellent opportunity for investors seeking an established income-producing property with significant recent improvements and potential for further value creation.

Property facts & features

Property type

Duplex

MLS® number

X13874990

Source status

New

Bedrooms

7

Bathrooms

4

Reported interior area

Not provided

Neighbourhood

Not provided

Postal code

K7A 3R6

Parking spaces

6

Garage

None

Lot depth (source units)

132

Annual property tax

3919

Basement

Unfinished

Laundry

Not provided

Interior features

Storage

Exterior features

Not provided

Values and units are reported by the listing source. Verify measurements and fees with the brokerage.

Floor plans & room measurements

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Property value & listing history

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Location & neighbourhood

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