326 Christine Drive,Midland, ON L4R5A4
Midland, ON L4R5A4
Description
Legal Duplex in Midland - Excellent Opportunity for Investors or Owner-Occupiers! A combination of space, flexibility and income potential, this legal duplex in Midland is an excellent opportunity for investors or buyers looking to offset their mortgage with rental income.Conveniently located in an established neighbourhood close to the Catholic high school. Four bedrooms in the upper unit and three bedrooms in the lower unit. Recently completed approximately $25,000 in renovations in the upper vacant unit. The new owner to move in immediately or select their own tenant. Estimated market rent for this unit is approximately $2,600 per month inclusive.The lower unit is occupied by an excellent long-term tenant on a month-to-month tenancy, currently paying $1,835 per month inclusive. With both units rented at the current and estimated rates, the property offers potential gross rental income of $4,435 per month, or $53,220 annually.For buyers considering the investment potential, the property has an established rental history. Total utility costs for 2025, when both units were occupied, were $7,967, including hydro ($3,327), gas ($1,126), water and sewer ($1,468), and hot water heater, (approx $400.00).Whether you're an investor looking to expand your portfolio or a homeowner seeking the financial benefits of a second rental unit, this legal duplex offers versatility, established income and the opportunity to generate additional revenue from day one. (id:374)
Details
| MLS # | S14105432 |
|---|---|
| Listing Type | For Sale |
| Status | Active |
| Days On Site | 13 |
| Listing Provided By | RE/MAX By The Bay Brokerage | ANDREW MCKAY |
Features
| Bed(s) | 7 |
|---|---|
| Bath(s) | 2 Total |
| SQ Feet | 1,100 |
| Garage | 3 |
| Basement | Y |
| Story(s) | 1 |
Interior
| Cooling | None |
|---|---|
| Heating | Forced air, Natural gas |
| Appliances | Refrigerator, Stove |
| Fireplace Yes / No | No |
Exterior
| Lot Features | In-Law Suite |
|---|---|
| Foundation Details | Block |
Parking
| Parking Features | Attached Garage, Garage |
|---|---|
| Parking Total | 3 |
Utilities
| Sewer | Sanitary sewer |
|---|---|
| Water Source | Municipal water |
Taxes
| Tax Annual Amount | 4067 |
|---|
Area Information
| Province | ON |
|---|---|
| City | Midland |
| Postal Code | L4R5A4 |
| Listing VS Median (in L4R5A4) | |
Price: $520,000 low | high Med: $520,000 sqft: 1,100 low | high Med: 1,100 $ / sqft: $473 low | high Med: $473 On site: 13 low | high Med: 13 | |
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Learn More About This Property
| Province | ON |
|---|---|
| City | Midland |
| Postal Code | L4R5A4 |
| Listing VS Median (in L4R5A4) | |
Price: $520,000 low | high Med: $520,000 sqft: 1,100 low | high Med: 1,100 $ / sqft: $473 low | high Med: $473 On site: 13 low | high Med: 13 | |
