715 GERARD STREET, Alfred and Plantagenet

$569,999

For sale: Detached

Detached at 715 GERARD STREET, Alfred and Plantagenet
Property type
Detached
Bedrooms / bathrooms
5 bedrooms, 2 bathrooms
Living area
1,500 sqft
MLS®
MLS® X13830206
Neighbourhood
608 - Plantagenet

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).

Sold data

Homes in Alfred and Plantagenet — recent sold market

Homes in Alfred and Plantagenet took a median of 45 days to sell over the last 90 days, with the quickest quarter selling within 28 days and the slowest quarter taking more than 77, across 39 recorded sales.

That clock counts only the listing each home finally sold on. Measured from the first time these properties came to market, including any earlier listings that were withdrawn and re-entered, the median is 69 days.

The median sale price was $449,900.

Homes sold for about 2.6% below asking on average, so there was room to negotiate.

About 10% of sales closed above the list price.

Around 38% of sellers reduced their price before finding a buyer.

Median days to sell
45
Median sale price
$449,900
Sale-to-list ratio
97.4%
Sold above asking
10%

Based on 39 recorded sales in the last 90 days — a small sample, so treat these figures as indicative. Aggregate statistics only; individual sale prices are not shown.

Currently for sale

Homes for sale near 715 GERARD STREET