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Listed 3 months ago

59 Penetang Street

Codrington, Barrie

$624,900

Detached|Bungaloft
3 | 2 | 4
About this home

Attention investors and first-time buyers! This fully turnkey home comes completely furnished , offering incredible value and income potential. A separate side entrance leads to a "non-legal" lower-level apartment featuring a spacious rec room, L-shaped bedroom with double closet, 3-piece bath, kitchen, and stacked washer/dryer - ideal for extended family or helping offset mortgage costs.Situated on a premium 186' deep lot, the expansive backyard offers endless possibilities - create your dream outdoor oasis with gardens, patios, and fire pits, or explore the potential for a future second unit (buyer to complete due diligence). Conveniently located within walking distance to downtown and the waterfront.The main level features rustic hardwood flooring, while the lower level offers durable laminate flooring. Crown moulding and French doors accent the bright living room, and the kitchen provides ample cupboard space with a large picture window bringing in plenty of natural light.Updates include Furnace (2014), Shingles (2017), and Central Air (2020).Inclusions: All window coverings, all electric light fixtures, all upstairs furniture, upstairs fridge, stove, range hood, washer & dryer; downstairs fridge (one of two), stove, range hood, washer & dryer;

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agent
Angela Montano
(647) 283-2643
TypeDetached
StyleBungaloft
Approx. AgeNot available
Size700-1100 sq. ft.
Property Tax$4,800
Lot Size48.52 ft x 186 ft
mls© NumberS13423330
Listed ByROYAL LEPAGE SIGNATURE REALTY

Listing History

  • No recent sale history for this listing.
  • No recent lease history for this listing.

Could you afford this home?

What the bank counts

This home's actual carrying costs, payment stress-tested at 6%

Mortgage, tested at 6%
$3,199
Property tax
$400
Heat allowance
$150
Housing costs
$3,749 / mo

Lenders cap these at 39% of gross income — that sets the number.

Down payment20% · $124,980
25-yr amortization

Income needed

$115,000

gross annual household income

Payment at 4%
$2,630 / mo
Cash down
$124,980

Assumes no other monthly debts · 25-yr amortization

Full affordability check

Investment Analysis

Estimated rent, cap rate and monthly cash flow for this property

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