$ 1,395,000
91 Water ST S Cambridge, ON N1R 3E1
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REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
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$ 1,395,000
Est. payment /mo
Active
91 Water ST S Cambridge, ON N1R 3E1
7 Beds
4 Baths
UPDATED:
09/24/2024 06:40 PM
Key Details
Property Type Single Family Home
Sub Type Detached
Listing Status Active
Purchase Type For Sale
Approx. Sqft 3000-3500
MLS Listing ID X9285397
Style 2-Storey
Bedrooms 7
Annual Tax Amount $3,750
Tax Year 2024
Property Description
Whether you're a house-hacker hunting for the perfect place to live in and grow your wealth or a pure investor looking for an amazing investment vehicle (6% CAP rate), this is truly a rare opportunity. This 4plex means that if you want to move in, you can pick the bachelor or a 2 bedroom or the 3 bedroom. Fully Renovated: Professionally redone top to bottom, ensuring you attract high-quality tenants & minimize future maintenance costs. Nearly everything is NEW, meaning fewer headaches, more peace of mind. Immediate Rental Income: 3 out of 4 units are currently vacant, giving you the flexibility to set market-rate rents right from the start. Unit 3, the smaller 2-bedrm, is already rented at $1,900/month + utilities (current market rate), proving the income potential. Total projected: cash flow of $1,122/mo, total 5 yr equity of $600k, 10 yr equity $975k, 15 yr equity $1.4m * For the house hacker: If you occupy the bachelor unit, here's the new math as of Dec 15: Minimum down $115k = mtg $1,280,000 4.25%/30 year = $6,269/mo. $8,000 income - bachelor@ $1,500 = $6,500 net income - $6269 mortgage = $231 cash flow. * Versatile Layout: The suite configurations offer you diverse rental options. The composition includes one 3-bedroom, two 2-bedrooms, and one bachelor unit. Plus, there's parking for four vehicles at the rear of the property * (House is virtually staged.) The asphalt walkway on the south side of the house will be replaced in September * Amazing location! You've got the Grand River right in front of you with access to lots of walking trails including the famous Cambridge To Paris Rail-Trail, WALK to: Downtown 5min, Cambridge Bus Terminal 6min, groovy Gaslight District 8min, U of W Cambridge 10min, grocery store12 min - so near to everything without being in the thick of it * By car you are 10min to the 401, 30min to Hamilton, and an hour to Toronto * No, this one will not be available for long! Grab the brass ring and begin to create generational wealth!
Location
State ON
County Waterloo
Rooms
Family Room No
Basement Half
Kitchen 4
Interior
Interior Features Separate Hydro Meter
Cooling None
Fireplace No
Heat Source Electric
Exterior
Exterior Feature Patio, Paved Yard
Garage Lane
Garage Spaces 4.0
Pool None
Waterfront No
Roof Type Asphalt Shingle,Flat
Parking Type None
Total Parking Spaces 4
Building
Unit Features Fenced Yard,Public Transit,River/Stream
Foundation Concrete Block
Listed by REAL ESTATE HOMEWARD