3-5 MARY STREET N, Smiths Falls

$509,900

For sale: Multiplex

Multiplex at 3-5 MARY STREET N, Smiths Falls
Property type
Duplex
Bedrooms / bathrooms
7 bedrooms, 4 bathrooms
Living area
3,000 sqft
MLS®
MLS® X13874990
Neighbourhood
901 - Smiths Falls

INVESTOR OPPORTUNITY! Income-producing two-unit property offering strong current rental income, substantial recent capital investment and future value-add potential. The two fully renovated units generate $4,375/month in current gross rent, or $52,500 annually, with 0% current vacancy/credit loss and a history of rents being paid on time or early. Improvements and repairs over the past 3-4 years, including fully renovated units, new appliances, replacement windows, newer furnaces, plumbing improvements, basement sump pumps and additional updates.The 4-bedroom, 1.5-bath unit at 3 Mary features a fenced backyard, parking, unfinished basement and furnace installed in 2024. The 3-bedroom, 1.5-bath unit at 5 Mary offers a large fenced backyard, generous driveway parking, unfinished basement and furnace installed in 2024. Tenants pay gas and hydro directly, while lawn/yard maintenance and snow removal are tenant responsibilities.The property offers approximately $52,500 in current annual gross rental income and a 10.50% gross rental yield based on the 2024 appraised value of $500,000. Potential future upside may include rental optimization, additional property improvements and investigation of severance/land-use potential, subject to municipal approvals and due diligence.An excellent opportunity for investors seeking an established income-producing property with significant recent improvements and potential for further value creation.

Sold data

Multiplex homes in Smiths Falls — recent sold market

Multiplex homes in Smiths Falls took a median of 50 days to sell over the last 730 days, with the quickest quarter selling within 21 days and the slowest quarter taking more than 92, across 33 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 Measured from the first time these properties came to market, including any earlier listings that were withdrawn and re-entered, the median is 72 days.

The median sale price was $389,900.

Homes sold for about 5.9% below asking on average, so there was room to negotiate.

About 6% of sales closed above the list price.

Around 39% of sellers reduced their price before finding a buyer.

Median days to sell
50
Median sale price
$389,900
Sale-to-list ratio
94.1%
Sold above asking
6%

Based on 33 recorded sales in the last 2 years — a small sample, so treat these figures as indicative. Aggregate statistics only; individual sale prices are not shown.

Schools

Schools in Smiths Falls

Smiths Falls has 6 Fraser Institute–rated schools (4 elementary and 2 secondary), averaging 3.3/10.

Rated schools
6
Elementary
4
Secondary
2
Average rating
3.3 / 10

Top-rated schools in Smiths Falls

  • Montague — elementaryFraser rating 5.9/10
  • Chimo — elementaryFraser rating 3.7/10
  • Smiths Falls — secondaryFraser rating 3.7/10
  • St Francis de Sales — elementaryFraser rating 2.9/10
  • Duncan J Schoular — elementaryFraser rating 2.6/10
  • St. Luke Catholic — secondaryFraser rating 0.9/10

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

Currently for sale

Homes for sale near 3-5 MARY STREET N