612 ROMAINE STREET, Peterborough (Otonabee Ward 1)

$599,900

For sale: Detached

Detached at 612 ROMAINE STREET, Peterborough (Otonabee Ward 1)
Property type
Detached
Bedrooms / bathrooms
10 bedrooms, 5 bathrooms
Living area
5,000 sqft
MLS®
MLS® X13246280
Neighbourhood
Otonabee Ward 1

**LICENSED STUDENT RENTAL INVESTMENT - 10 BEDROOMS + GARAGE INCOME** Excellent investment opportunity at 612 Romaine Street. This established Peterborough student rental features ** 10 rentable bedrooms, 5 bathrooms, additional garage income and a City of Peterborough Rental Dwelling Large licence currently in place. **Current rental income is **$6,600/month with only one bedroom vacant**. Leasing the vacant room at the anticipated $800/month would increase potential income to approximately **$7,400/month or $88,800 annually**, based on the existing rent structure. **INVESTMENT HIGHLIGHTS: *10 rentable bedrooms, *5 bathrooms, *Garage rental income, *$6,600/month current income, *Only 1 bedroom currently vacant, *$7,400/month potential at full occupancy, *$88,800 potential annual gross income, *City of Peterborough rental licence, *Professional property management in place, *Current student-rental insurance quote available, *Multiple parking spaces. At **$659,900**, this property offers an attractive opportunity for investors seeking established student housing or an addition to an existing rental portfolio. An established income-producing property with **10 bedroom revenue streams, additional garage income and immediate upside from filling the single vacancy. **All income, expenses, licensing and investment information should be independently verified by the purchaser.

Sold data

Homes in Otonabee Ward 1 — recent sold market

Homes in Otonabee Ward 1 took a median of 22 days to sell over the last 90 days, with the quickest quarter selling within 14 days and the slowest quarter taking more than 40, across 57 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 Measured from the first time these properties came to market, including any earlier listings that were withdrawn and re-entered, the median is 37 days.

The median sale price was $479,900.

Homes sold for about 2.2% below asking on average, so there was room to negotiate.

About 12% of sales closed above the list price.

Around 25% of sellers reduced their price before finding a buyer.

Median days to sell
22
Median sale price
$479,900
Sale-to-list ratio
97.8%
Sold above asking
12%

Based on 57 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.

Schools

Schools in Peterborough (Otonabee Ward 1)

Peterborough (Otonabee Ward 1) has 29 Fraser Institute–rated schools (23 elementary and 6 secondary), averaging 5.2/10.

Rated schools
29
Elementary
23
Secondary
6
Average rating
5.2 / 10

Top-rated schools in Peterborough (Otonabee Ward 1)

  • James Strath — elementary, PeterboroughFraser rating 7.5/10
  • St. Peter's — secondary, PeterboroughFraser rating 6.7/10
  • Edmison Heights — elementary, PeterboroughFraser rating 6.5/10
  • St Paul's — elementary, PeterboroughFraser rating 6.2/10
  • Holy Cross — secondary, PeterboroughFraser rating 6.1/10
  • St Anne — elementary, PeterboroughFraser rating 6.0/10

School ratings from the Fraser Institute's Ontario school report cards.

Currently for sale

Homes for sale near 612 ROMAINE STREET