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$649,900

104 Mill Street Russell, Ontario K4R 1B8

104 Mill Street, Russell, Ontario  K4R 1B8 - Photo 1 - 1269779
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104 Mill Street Russell, Ontario K4R 1B8

Central Air Conditioning Forced Air, Radiant Heat

This 13-yr-old home has two units, a full 3-bed, 3 bath house plus a legal 2-bed basement apartment. Among the highest earning dual-unit homes on market in recent memory. The main flagship unit is the perfect fit for a family. HOMEOWNERS: Income from basement unit pays for up to 82% of the mortgage; remaining payment is approx. $339. INVESTORS: Rents sum to $2890/mo, $35k/yr. Tenants pay all utilities. Your expenses are simply tax and insurance. Resulting net income is $29,412. At 1.85% over 30yrs the mortgage is $1,883 and cash flow is a stellar $600/mo. LONG-TERM: over 30yrs this property will carry itself plus cash flow $210k even without rent increases. At 5% appreciation/yr this property could be worth $2.8M when paid off in 30yrs. Thats 15x the avg. Canadians retirement savings. Russell has an extreme rental shortage with vacancy near zero. Modern build suggests low maintenance for foreseeable future. (id:42482)

Enquire about 104 Mill Street, Russell, Ontario K4R 1B8

    Property Details

    Property Details for 104 Mill Street, Russell, Ontario K4R 1B8

    MLS® Number 1269779
    Property Type Multi-family
    Neighbourhood Russell
    Parking Space Total 3

    Building

    Building details for 104 MILL STREET, Russell, Ontario K4R 1B8
    Basement Development Finished
    Basement Type Full (finished)
    Constructed Date 2008
    Construction Material Wood Frame
    Cooling Type Central Air Conditioning
    Exterior Finish Siding
    Flooring Type Wall-to-wall Carpet, Laminate, Tile
    Foundation Type Poured Concrete
    Heating Fuel Natural Gas, Electric
    Heating Type Forced Air, Radiant Heat
    Stories Total 2
    Type Duplex
    Utility Water Municipal Water

    Parking

    Attached Garage
    Surfaced

    Land

    Acreage No
    Current Use Development Residential
    Sewer Municipal Sewage System
    Size Depth 99 Ft ,1 In
    Size Frontage 28 Ft ,3 In
    Size Irregular 0.06
    Size Total 0.06 Ac
    Size Total Text 0.06 Ac
    Zoning Description R2

    Carley Humphries
    Salesperson

    (613) 986-0898
    KELLER WILLIAMS INTEGRITY REALTY
    2148 Carling Ave., Units 5 & 6
    Ottawa, Ontario K2A 1H1

    (613) 829-1818
    (613) 829-3223
    www.kwintegrity.ca

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