Address
104 MILL STREET Russell, ON
Price
$ 649,900
Property Attributes
  • ID#1269193
  • TypeSingle Family
  • CityRussell
  • NeighbourhoodRussell
  • Postal CodeK4R 1B8
  • Style
  • Price$ 649,900
  • Bedrooms5
  • Bathrooms3
  • Half Bathrooms1
  • Lot Size2,614 SqFt
Listing Provided Courtesy Of:
KELLER WILLIAMS INTEGRITY REALTY
Data Source:
Canadian Real Estate Association
Property Description

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:7434)

General Features

Building Appliances Refrigerator, Dryer, Hood Fan, Stove, Washer
Building Cooling Type Central air conditioning
Building Type House
Foundation Type Poured Concrete
More Information Link https://www.realtor.ca/real-estate/23800125/104-mill-street-russell-russell
Neighbourhood Russell
Ownership Type Freehold
Property Type Single Family
Zoning Description R2

Interior Features

Basement Development Finished
Basement Type Full (Finished)
Building Fireplace Present False
Building Heating Fuel Natural gas, Electric
Building Heating Type Forced air, Radiant heat
Construction Material Wood frame
Construction Style Attachment Semi-detached
Flooring Type Wall-to-wall carpet, Laminate, Tile

Exterior Features

Exterior Finish Siding
Parking Space Total 3
Sewer Municipal sewage system

Amenities

  • Views
  • New Construction
  • Adult 55+
  • Lease To Own
  • No Strata Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Single Family Average in K4R 1B8

Price
AVG $650K
$650K
Visits
AVG 15
14
Year Built
AVG 2008
2008