The trademarks MLS®, Multiple Listing Service®, and the associated logos are owned by the Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Listing data provided by the Toronto Regional Real Estate Board (TRREB). Data is deemed reliable but not guaranteed.
$399,000 | APPROX. 12.34% CAP RATE | FULLY TENANTED | 5 INCOME STREAMSINVESTORS TAKE NOTICE! Fully tenanted, income-producing mixed-use investment property in North Bay offering FIVE established income streams under one roof. Featuring a large commercial space plus FOUR residential apartments, this property provides a diversified combination of commercial and residential rental income with tenants already in place.THE NUMBERS MAKE THIS ONE WORTH A LOOK. Annual gross income of approximately $72,626 with reported operating expenses of approximately $23,403 produces a Net Operating Income (NOI) of approximately $49,223. At the $399,000 asking price, this represents an approximate 12.34% capitalization rate based on reported expenses.Reported expenses include allowances for 3% vacancy and 5% maintenance. Property management and snow removal are not included and will vary depending on the purchaser's operating arrangements.Unlike vacant investment properties requiring a buyer to find tenants before realizing the property's full income potential, this building is FULLY TENANTED with five existing revenue streams. Four residential apartments provide a strong residential component while the commercial space adds an additional source of income and diversification.At $399,000, this is an opportunity for an investor to acquire an established North Bay mixed-use property with income already in place and an attractive return based on the current financial information.Financial information is based on seller-provided figures and stated allowances.The Seller does not represent or warrant the retrofit of the basement
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What’s NearbyDistances approximate
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Estimated Rental Income
Rental estimate coming soon
We’re not showing a number until we have a data source we trust. When it’s connected, this section will show:
A monthly rent range from nearby leased homes of the same type and size
The leased comparables behind it (signed-in, VOW-gated)
Gross yield at the current list price
Monthly Cost
A quick estimate to plan with. Taxes come from the listing; change the other inputs to match your situation.
Estimated monthly$2,036/mo
Mortgage (principal + interest)$1,493
Property taxFrom listing: $6,517/yr$543
Minimum $19,950 down for this price; the slider moves in whole percent, starting at 5%. Under 20% adds mortgage default insurance. Confirm with a lender.
Mortgage uses Canadian semi-annual compounding. Houses-Gate doesn’t offer financing.
Estimated Budget
About how much cash you’ll need on closing day, besides the mortgage.
Down payment20% of the list price$79,800
Ontario land transfer taxProvincial brackets, no first-time refund$4,460
Legal fees & disbursementsTypical range $1,800–$2,800$1,800
Home inspectionTypical range $500–$800$600
Title insuranceTypical range $300–$600$400
Cash needed at closingEstimate$87,060
First-time buyers can get up to $4,000 back on Ontario land transfer tax. North Bay has no municipal land transfer tax (Toronto does).
Uses Ontario’s land transfer tax brackets and the down payment set in Monthly Cost. Legal, inspection and title-insurance figures are typical ranges, not quotes.
Listing data is provided under copyright by the Toronto Regional Real Estate Board (TRREB). The data is deemed reliable but is not guaranteed to be accurate. The trademarks MLS®, Multiple Listing Service®, and the associated logos are owned by the Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA.
The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate and may not be used for any commercial purpose or any other purpose.
All information deemed reliable but not guaranteed. All properties are subject to prior sale, change, or withdrawal. Neither listing broker(s) nor HousesGate shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless.
