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$505,000
Est. payment /mo
4 Beds
2 Baths
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
Approx. Sqft 1100 - 1500
Subdivision Crown Point
MLS® Listing ID X13541324
Bedrooms 4
Property Sub-Type Freehold
Appx SqFt 1100 - 1500
Property Description
12 Mayflower Avenue, Hamilton is an investment property within a portfolio. A single detached home operated as a four-room rental, offered at a 5.61% in-place cap rate on current rents. This fully-tenanted property generates $36,000 in gross annual rent and $28,334 NOI at an asking price of $505,000.The home is configured with 3 bedrooms and a bath upstairs and 1 bedroom on the main floor, plus a bathroom in the basement. Three tenants pay $750/month each in cash rent, while the fourth room is occupied by a tenant who performs maintenance and repairs in lieu of cash rent, valued at the same $750/month - gross rent is shown inclusive of this in-kind arrangement. This property carries the lowest operating-expense load in the portfolio, so every additional dollar of room rent converts to NOI at an unusually high rate. One of the four rooms is already month-to-month, with the remainder repositionable to market as tenancies turn. The detached home sits on its own lot, offering a new owner long-term flexibility - whether continued as a room rental, converted to a single-family lease, or held for appreciation. (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Forced air
Cooling Central air conditioning
Exterior
Parking Features No
View Y/N No
Attached Garage No
Total Parking Spaces 1
Garage No
Private Pool No
Building
Story 2
Sewer Sanitary sewer
Others
Ownership Freehold
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Listed by EXP REALTY
Nearby School & Business
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