715 Gerard Street, Alfred And Plantagenet, ON, K0B 1L0

Address

715 Gerard Street, Alfred and Plantagenet, ON

Listing Type

Single Family

Price

$ 569,999

Property Attributes

ID#X13830206
TypeSingle Family
Listing Status Active
MunicipalityAlfred and Plantagenet
CountyOTTAWA
CityAlfred and Plantagenet
Neighborhood608 - Plantagenet
ZipK0B 1L0
StyleSingle Family Dwelling
Price$ 569,999
Bedrooms5
Bathrooms2
Half Bathrooms0
Sqr Footage1500

Data Source:

RLP - CREA EN

Property Description

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).

General Features

Terms	SALE
Neighbourhood	608 - Plantagenet
Construction Style	Detached
Property Sub Type	Single Family
jumpId	29307925
Property Subtype French	Single Family Dwelling
Listing Type French	House
MLS	X13830206
Appliances	Dishwasher, Dryer, Two stoves
Architectural Style	Bungalow
Building Type	House
Property Type	Single Family
Sewer	Sanitary sewer

Interior Features

Living Area Range	1500 sqft
Bedrooms	5
Basement Type	N/A, N/A
Cooling Type	None
Foundation Type	Block
Heating Fuel	Natural gas
Heating Type	Forced air
Beds	5
Total Baths	2
Total Baths	2