3-5 MARY STREET N
Smiths Falls, Ontario
MLS® X13874990
$509,900
- Status
- Active
- Property type
- Multi-family
- MLS® number
- X13874990
- Bedrooms
- 7
- Bathrooms
- 4
- Year built
- —
Listing description
INVESTOR OPPORTUNITY! Income-producing two-unit property offering strong current rental income, substantial recent capital investment and future value-add potential. The two fully renovated units generate $4,375/month in current gross rent, or $52,500 annually, with 0% current vacancy/credit loss and a history of rents being paid on time or early.
Improvements and repairs over the past 3-4 years, including fully renovated units, new appliances, replacement windows, newer furnaces, plumbing improvements, basement sump pumps and additional updates. The 4-bedroom, 1. 5-bath unit at 3 Mary features a fenced backyard, parking, unfinished basement and furnace installed in 2024.
The 3-bedroom, 1. 5-bath unit at 5 Mary offers a large fenced backyard, generous driveway parking, unfinished basement and furnace installed in 2024. Tenants pay gas and hydro directly, while lawn/yard maintenance and snow removal are tenant responsibilities.
The property offers approximately $52,500 in current annual gross rental income and a 10. 50% gross rental yield based on the 2024 appraised value of $500,000. Potential future upside may include rental optimization, additional property improvements and investigation of severance/land-use potential, subject to municipal approvals and due diligence.
An excellent opportunity for investors seeking an established income-producing property with significant recent improvements and potential for further value creation.
Property summary
- MLS® number
- X13874990
- Property type
- Multi-family
- Building type
- Duplex
- Land size
- 66 x 132 FT
- Annual property taxes
- $3,919.00
- Parking
- 6 spaces · No Garage
- Days on market
- 2 days
Features & details
- Heating
- Forced air, Natural gas
- Cooling
- Window air conditioner
- Basement
- Unfinished, N/A
- Appliances
- Dryer, Two stoves, Two Washers, Two Refrigerators
- Exterior features
- Steel
- Lot features
- Irregular lot size
What would this home cost you?
Based on the $509,900 asking price at a 5.00% example rate, semi-annual compounding.
Renanza Realty Inc. can represent you on this property — send an enquiry to arrange a private viewing.
Listing courtesy of ROYAL LEPAGE PERFORMANCE REALTY, OTTAWA.
The listing data displayed here is provided in part by the Canadian Real Estate Association (CREA) through its Data Distribution Facility (DDF®) and is drawn from Boards and Associations across Canada. Information is deemed reliable but is not guaranteed accurate by CREA. The listings are held by brokerages other than Renanza Realty unless otherwise noted.
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by CREA and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos identify professional services rendered by REALTOR® members of CREA to effect the purchase, sale and lease of real estate as part of a cooperative selling system.