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Listed 16 days ago

201 Steel Street

Codrington, Barrie

$759,999

Detached|Bungalow-Raised
3 | 2 | 4
About this home

Attention investors! This registered two-unit raised bungalow offers immediate income opportunity with both units currently tenanted. This property offers $3700 of monthly cash flow. The main level features three bedrooms, a bright living and dining area, a kitchen, and a four-piece bathroom. The lower unit offers a separate entrance, kitchen, living area, bathroom, and two additional bedrooms. With approximately 1900 square ft of living space, this property is a great investment opportunity. Situated in one of Barrie's most sought-after neighbourhoods, this 60 x 100 ft lot features a spacious four-car driveway. Several recent improvements include; a new roof, upgraded attic insulation, tiled front steps with a new railing installed, landscaping and updated basement flooring. Conveniently located near the waterfront, hospital, schools, Georgian College, shopping, transit and highway.

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agent
Angela Montano
(647) 283-2643
TypeDetached
StyleBungalow-Raised
Approx. AgeNot available
Size700-1100 sq. ft.
Property Tax$5,200
Lot Size60 ft x 100 ft
mls© NumberS13639300
Listed ByRIGHT AT HOME 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%
$3,890
Property tax
$433
Heat allowance
$150
Housing costs
$4,473 / mo

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

Down payment20% · $152,000
25-yr amortization

Income needed

$138,000

gross annual household income

Payment at 4%
$3,198 / mo
Cash down
$152,000

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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