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For Sale - 715 Gerard Street, Alfred and Plantagenet, Ontario

715 Gerard Street

Alfred and Plantagenet , Ontario

5 2 $569,999

Est payment $2,737/mo

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Time on Jump 1 days

AI Summary *

Legal duplex with two self-contained units for flexible living options.
Upper unit available for owner-occupancy or immediate rental income.
Lower unit has a reliable tenant paying $1,500/month.
Strong cash flow with a cap rate of approximately 5.0%.
Centrally located near amenities with recent updates enhancing value.

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Down Payment:
$ 28,499 ( 5% )

First Time Buyer:
Yes No

New Build:
Yes No

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, large kitchen, 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).

Listing IDX13830206

Address715 Gerard Street

CityAlfred and Plantagenet, Ontario

Price$569,999

Bed / Bath5 / 2 Full

StyleBungalow, Detached

ConstructionBrick, Stone

TypeResidential

StatusFor Sale

Extras

Subtype DetachedIndoor Features Accessory ApartmentOwnership FreeholdBasement Separate Entrance, ApartmentFoundation BlockHeating / Cooling Forced AirHeating Fuel GasSewer Sewer

Market Info

Parking 4.00

Listing Agency:
RIGHT AT HOME REALTY

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Listing Agency:
RIGHT AT HOME REALTY

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For Sale - 715 Gerard Street, Alfred and Plantagenet, Ontario

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