Posted by: Max Balan
Each week, Max breaks down the numbers for a great investment property in Ottawa
You can reach out to Max and the team any time too make a move, to get the numbers on a property you’re interested in, or get the latest stats on the Ottawa market.
410 Cambridge St. S is a charming three-story duplex, with R3 Zoning, and presents a multitude of opportunities for potential buyers.
The home exudes character and offers a spacious 4-bedroom unit on the upper two floors, along with a delightful 1-bedroom unit on the main level. Throughout the property, beautiful hardwood flooring enhances the overall appeal. Its central location is a significant advantage, allowing easy access to the vibrant Glebe, charming Little Italy, scenic Dow’s Lake, various shops, restaurants, and convenient transit options.
Additionally, the property boasts a good-sized yard and ample storage space. Recent upgrades include a newer roof installed in 2020 and the addition of two new hot water tanks in 2022. While the property requires some repairs, this is reflected in the listing price, making it an attractive investment opportunity with substantial income potential.
In summary, this appealing duplex with R3 Zoning offers a blend of character and income potential. Its central location in proximity to key amenities and recent updates, such as a new roof and hot water tanks, make it an attractive investment. While it does require some repairs, the listing price reflects this, providing a promising opportunity for those looking to capitalize on its charm and income-generating possibilities.
Links
Monthly financial breakdown
Monthly gross rental income: $3,650
Acquisition costs
Down payment: $119,980
Home inspection: $500
Total acquisition cost: $159,980
Monthly operating expenses
Insurance: $208
Total monthly cost: $408
Taxes: $400
Debt services
Purchase price: $599,900
Mortgage amount: $479,920
Down payment (20%): $119,980
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I’m Max Balan, a realtor at Royal Lepage on the Nick Fundytus team, and this has been your deal of the week. Stay tuned for more exciting opportunities in the future!
Sources
Century 21 Synergy Inc: Listing Agent Kevin Lennie
Nick Fundytus team website: nickfundytus.ca
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