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Listed 11 days ago

17 Michelle Drive

Painswick South, Barrie

$998,888

Detached|Bungalow
3 | 3 | 6
About this home

BEAUTIFUL LEGALLY REGISTERED 2-UNIT HOME, 3 + 3 BEDROOMS, 3 BATHROOMS, 6 PARKING, SOUTH BARRIE Incredible Income Property In Barrie's Highly Coveted Painswick-South Neighbourhood! This Beautiful And Well-Maintained Legal Two-Unit Property Features A Spacious 3-Bedroom Upstairs Unit And A Newly Renovated 3-Bedroom Basement Apartment, Offering An Excellent Opportunity For Investors, Extended Families, Or Those Looking To Live In One Unit And Generate Rental Income From The Other. The Basement Apartment Is Legally Registered, Fully Soundproofed, And Features Its Own Private Walk-Out Entrance, Providing Privacy And Excellent Separation Between Both Units. Both Units Offer Spacious Layouts, Modern Kitchens, Full Bathrooms, Comfortable Living And Dining Areas, And In-Unit Laundry. The Property Offers An Ideal Opportunity For a Large Family. Equipped With A Fully Fenced Backyard. Conveniently Located Just Minutes From The GO-Train, Highway 400, Shopping, Restaurants, Schools And An Abundance Of Local Amenities. Potential Rent $4600 Plus Utilities With A Legal 2-Unit Configuration, Newly Renovated Basement Apartment, Private Walk-Out, Soundproofing And Excellent Rental Potential, This Is An Incredible Income Property In A Highly Desirable South Barrie Location.

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agent
Angela Montano
(647) 283-2643
TypeDetached
StyleBungalow
Approx. Age6-15
Size1100-1500 sq. ft.
Property Tax$5,665
Lot Size40.94 ft x 110.4 ft
mls© NumberS13728616
Listed ByRE/MAX EXPERTS

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%
$5,113
Property tax
$472
Heat allowance
$150
Housing costs
$5,735 / mo

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

Down payment20% · $199,778
25-yr amortization

Income needed

$176,000

gross annual household income

Payment at 4%
$4,203 / mo
Cash down
$199,778

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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