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$ 569,999
Est. payment /mo
New
715 Gerard ST Alfred And Plantagenet, ON K0B 1L0
5 Beds
2 Baths
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Detached
Listing Status Active
Purchase Type For Sale
Approx. Sqft 1100-1500
Subdivision 608 - Plantagenet
MLS Listing ID X13830206
Style Bungalow
Bedrooms 5
Annual Tax Amount $3,202
Tax Year 2025
Property Sub-Type Detached
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).
Location
Province ON
County Prescott And Russell
Area Prescott And Russell
Rooms
Family Room No
Basement Separate Entrance, Apartment
Kitchen 2
Interior
Interior Features Accessory Apartment
Cooling None
Fireplace No
Heat Source Gas
Exterior
Garage Spaces 2.0
Pool None
Roof Type Asphalt Shingle
Lot Frontage 94.0
Lot Depth 94.62
Total Parking Spaces 4
Building
Foundation Block
Others
ParcelsYN No
Listed by RIGHT AT HOME REALTY
Nearby Locations