New Listing
715 Gerard Street,Alfred and Plantagenet, ON K0B 1L0
Alfred and Plantagenet, ON K0B 1L0
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).
Details
| MLS # | X13830206 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | New |
| Year | 0 |
| Days On Site | 2 |
| Listing Provided By | RIGHT AT HOME REALTY | X13830206 501700 |
Features
| Bed(s) | 5 |
|---|---|
| Bath(s) | 2 |
| Car Port | Yes |
| Basement | Y |
| Acreage | 0.20 |
Interior
| Interior Features | Accessory Apartment |
|---|---|
| Cooling | None |
| Heat Source | Gas |
| Fireplace Yes / No | No |
Exterior
| Roof | Asphalt Shingle |
|---|---|
| Foundation Details | Block |
| Construction Materials | Brick, Stone |
Parking
| Garage Yes / No | No |
|---|
Utilities
| Sewer | Sewer |
|---|
Taxes
| Tax Annual Amount | 3202 |
|---|---|
| Tax Legal Description | PT LT 7-8 CON 4 NORTH PLANTAGENET AS IN R129100; ALFRED/PLANTAGENET |
| Tax Year | 2025 |
Area Information
| Province | ON |
|---|---|
| County | Prescott and Russell |
| City | Alfred and Plantagenet |
| Postal Code | K0B 1L0 |
| Area | 608 Plantagenet |
| Listing VS Median (in K0B 1L0) | |
Price: $569,999 low | high Med: $450,000 On site: 2 low | high Med: 117 | |
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Learn More About This Property
| Province | ON |
|---|---|
| County | Prescott and Russell |
| City | Alfred and Plantagenet |
| Postal Code | K0B 1L0 |
| Area | 608 Plantagenet |
| Listing VS Median (in K0B 1L0) | |
Price: $569,999 low | high Med: $450,000 On site: 2 low | high Med: 117 | |