Mirna Botros

613-600-2626

22 Dollard Street - $775,000

22 Dollard Street

$775,000

602 - Embrun

Russell, OntarioK0A1W0

6 beds

2 baths

6 parking

MLS#: X12146215Listed: 22 days agoUpdated:3 days ago

Description

Discover this impeccably designed legal duplex in Embrun offering exceptional value and strong rental income. The upper-level flagship unit is a beautifully renovated 3-bedroom home. Thoughtfully updated with care and attention to detail, this unit stands out as one of the premier rentals in Embrun. The newly constructed lower-level apartment is equally impressive -- a bright and modern 3-bedroom unit. Together, both units are rented (no vacancy) to generate a robust monthly income of $4,200, translating to over $50,000 annually. Heat/Hydro is separately metered so as the new property owner, you pay only water. The extra-large 1/3rd acre property lends well to future development -- extensions, outbuildings, carriage homes, and more! This is an excellent land parcel to take advantage of the More Homes Built Faster Act, 2022 (also known as Bill 23) as part of Ontarios goal of building 1.5-million new homes in under 10 years. Annual Income $50,415. Annual Expenses: Water $1,550, Insurance $1,673, Tax $3,570 = Total $6,793. Net Income $43,622. Cash flow before finance $3,635 per month. On reasonable financing terms the monthly cashflow is $800+ per month. This investment opportunity is hard to beat. If long-term growth is 4-5% per year, this duplex could be worth $1.43-1.65 million in 15 years, and $2.58-3.44 million in 30 years when paid in full. Cashflow in the interim should greatly exceed $500,000. This equates to a potential return of $3-4 million from todays $159-238k downpayment. Consider adding 22 Dollard Street in Embrun as a flagship property and long-term staple to your portfolio. Note: Financials discussed in the video are outdated; please refer the the updated numbers listed here. Photos taken prior to current tenancies. (id:58075)

Details

Details for 22 Dollard Street, Russell, Ontario

Property Type: Multi Family
Building Type: Duplex
Storeys: 1
Neighborhood: 602 - Embrun
Land Size: 77.9 x 195 FT
Year Built: -
Annual Property Taxes: $3,570
Parking Type: Garage, Carport

Inside

Appliances: Washer, Dishwasher, Dryer, Hood Fan, Two stoves, Two Refrigerators
Rooms: 4
Bedrooms: 6
Bathrooms: 2
Fireplace: -
Fireplace Total: -
Basement: Apartment in basement, N/A