3 Houses - One Investment! NEW PRICE!

Description

NEW PRICE! 3 houses and one great investment! in cute Little Rapids hamlet only a few minutes north of Thessalon! Home #19 (3 bedrooms with attached garage) is vacant and ready to occupy or rent! Homes #11 (2 Bedrooms) and #15 (2 Bedrooms with attached garage) are rented to long term tenants. Two wells serve the property, each home has its own septic. #19 has a large workshop/storage building behind it. Each home is separately metered, tenants pay their own hydro, gas, and hot water tank rental in addition to rent. Natural gas forced air furnaces in all three homes. Thessalon, a few minutes away, has a 24 hour emergency room and a new Tim Hortons! 24 hours notice or more required for showings of tenant occupied homes.

Overview
8 Bedrooms (3+3+2)
3 Bathrooms
3292 sq. ft. (total all three houses)
Natural Gas Forced Air Heating
330 x 132 Lot
Two Wells and Three Septics
High-Speed Internet and Cell Service Available
Taxes $2,702.82 for 2022
MLS # SM230144

Google Maps Link
https://goo.gl/maps/saAJaogqr2xoCc3eA

iGuide 3D Tour Link
https://youriguide.com/11_15_19_thomas_street_littlerapids_thessalon_on
Rental Income and Expenses
11 Thomas Street 2 Bedroom: $535/month plus utilities and HWT Rental
15 Thomas Street 3 Bedroom and Garage: $535/month plus utilities and HWT Rental
19 Thomas Street 3 Bedroom and Garage: Estimated $1500/month plus utilities
Tenants cut grass, shovel snow, pay utilities and hot water tank rentals.
Utility bills come to landlord who pays them, and then tenants pay rent along with utilities amount to landlord. This method ensures payments are always made on time and kept up to date.

Assumed Gross Income: $30,840 annually
Taxes: $2,702.82 annually
Insurance: $4,920.00 annually
NET INCOME: $23,217.18 annually
ASSUMED CAP RATE: 9.29% (at Purchase Price of 249,900)

Images: