$1,395,000
 $7,489 est/mo Sourced by Back At You

91 Water Street S , Cambridge, ON N1R 3E1

Cambridge, ON N1R 3E1

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Description

Whether you're a house-hacker hunting for the perfect place to live in and grow your wealth or a pure investor looking for an amazing investment vehicle (6% CAP rate), this is truly a rare opportunity. This 4plex means that if you want to move in, you can pick the bachelor or a 2 bedroom or the 3 bedroom. Fully Renovated: Professionally redone top to bottom, ensuring you attract high-quality tenants & minimize future maintenance costs. Nearly everything is NEW, meaning fewer headaches, more peace of mind. Immediate Rental Income: 3 out of 4 units are currently vacant, giving you the flexibility to set market-rate rents right from the start. Unit 3, the smaller 2-bedrm, is already rented at $1,900/month + utilities (current market rate), proving the income potential. Total projected: cash flow of $1,122/mo, total 5 yr equity of $600k, 10 yr equity $975k, 15 yr equity $1.4m * For the house hacker: ?If you occupy the bachelor unit, here's the new math as of Dec 15: Minimum down $115k = mtg $1,280,000 4.25%/30 year = $6,269/mo. $8,000 income - bachelor@ $1,500 = $6,500 net income - $6269 mortgage = $231 cash flow. * Versatile Layout: The suite configurations offer you diverse rental options. The composition includes one 3-bedroom, two 2-bedrooms, and one bachelor unit. Plus, there's parking for four vehicles at the rear of the property * (House is virtually staged.) The asphalt walkway on the south side of the house will be replaced in September * Amazing location! You've got the Grand River right in front of you with access to lots of walking trails including the famous Cambridge To Paris Rail-Trail, WALK to: Downtown 5min, Cambridge Bus Terminal 6min, groovy Gaslight District 8min, U of W Cambridge 10min, grocery store12 min - so near to everything without being in the thick of it * By car you are 10min to the 401, 30min to Hamilton, and an hour to Toronto * No, this one will not be available for long! Grab the brass ring and begin to create generational wealth!

Details

MLS#40640000
Listing TypeFor Sale
StyleTown House
Sub-TypeResale
StatusActive
Year1890
Days On Site65
Listing Provided ByReal Estate Homeward | Gordon Springle

Features

Bed(s)7
Bath(s)3
SQ Feet3,259
BasementY
Story(s)2
Units4
ZoningFC1RM1
MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the Information Technology of Southern Ontario MLS.

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Listings Checked: 6 minutes ago
ProvinceON
CountyWaterloo
CityCambridge
Postal CodeN1R 3E1
Area12 Galt East
Subarea20 City Core | Wellington
Community Name20 City Core/Wellington
Listing VS Median (in 20 City Core/Wellington)
Price:
$1,395,000
low | high
Med:
$400,000
100% of Average
SqFt:
3,259
low | high
Med:
640
100% of Average
$ / SqFt:
$428
low | high
Med:
$625
3.987455197133% of Average
On Site:
65
low | high
Med:
110.000000
59.090909090909% of Average
Sourced by Back At You
Listing Updated: October 11, 2024 at 4:37:49 PM PDT