Listed by Royal Lepage Proalliance Realty.

12 Richard Street is a Detached, 1 1/2 Storey and is currently for Sale @ $449,900. Taxes in 2024 were $3,007.10.

More homes for sale under 400k in Quinte West

Lets talk about this versatile property, suitable for owners or investors alike. The 1 1/2 Storey on 12 Richard Street has 4 bedrooms, 2 bathrooms, and is located on a 99.95 x 43.19 ft loton < .50 acres in the community of . This is a fully detached building that includes BOTH halves of semi-detached units under one ownership. This property represents tremendous value as either a single-family home or as investment property. It allows you several options. OPTION 1. Live in one side and let the other unit help pay your mortgage. OPTION 2. Live in one side & have a family member reside next door in the other semi-detached unit. OPTION 3. Open up a dividing wall and live in the entire building. OPTION 4. Purchase as an investment property bringing you $43,200 of Gross Rental Income & a 8.71% CAP RATE. AMAZING RETURN ON INVESTMENT. Brick & stucco side-by-side dwellings. One unit fully occupied & the other unit recently empty. Ready for the next owner to choose their occupancy options or investors can pick their own tenant & set their own rents. No need to assume tenancies with rents far too low, this multi-residential home can provide positive cash flow right away. Both units metered separately for: gas, hydro & water/sewer. Unit A is a 2 bed, 1 bath, 2sty unit with tenant paying $1600/mth ++. Tenant has been in place since Dec. 2023 & has a 1yr lease. Unit has a wrap-around front porch, fully fenced backyard & 1 parking spot. Heating is gas wall furnace & Electric baseboards. Unit B is vacant & ready for the open market. This bungalow layout has 2 bdrms, 1 bath, formal living rm & dining rms, eat-in kitchen & patio door to fenced backyard. It also has full, unfinished bsmt with laundry plus: hdwd flooring, ornate woodwork, crown moulding, gas furnace, C/Air & 1 parking spot. Affordable place to call home, or great addition to your investment portfolio.

Gross rental income $43,000. Expenses $4008.26. Net Operating Income $39,191.74. Financial numbers available, showing income and expenses. Gross annual rent is calculated based on a projected monthly rent for the vacant unit of $2000++.

The address 12 Richard Street was listed for sale (MLS# X9045416) on Wednesday, July 17, 2024.