22 Dollard ST new Save Request In-Person Tour Request Virtual Tour
Russell,ON K0A 1W0
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Approx. Sqft 1100-1500
Subdivision 602 - Embrun
MLS Listing ID X12146215
Style Bungalow-Raised
Bedrooms 6
Annual Tax Amount $3,570
Tax Year 2024
Property Sub-Type Duplex
Property Description
Discover this impeccably designed legal duplex in Embrun offering exceptional value and strong rental income. The upper-level flagship unit is a beautifully renovated 3-bedroom home. Thoughtfully updated with care and attention to detail, this unit stands out as one of the premier rentals in Embrun. The newly constructed lower-level apartment is equally impressive -- a bright and modern 3-bedroom unit. Together, both units are rented (no vacancy) to generate a robust monthly income of $4,200, translating to over $50,000 annually. Heat/Hydro is separately metered so as the new property owner, you pay only water. The extra-large 1/3rd acre property lends well to future development -- extensions, outbuildings, carriage homes, and more! This is an excellent land parcel to take advantage of the More Homes Built Faster Act, 2022 (also known as Bill 23) as part of Ontarios goal of building 1.5-million new homes in under 10 years. Annual Income $50,415. Annual Expenses: Water $1,550, Insurance $1,673, Tax $3,570 = Total $6,793. Net Income $43,622. Cash flow before finance $3,635 per month. On reasonable financing terms the monthly cashflow is $800+ per month. This investment opportunity is hard to beat. If long-term growth is 4-5% per year, this duplex could be worth $1.43-1.65 million in 15 years, and $2.58-3.44 million in 30 years when paid in full. Cashflow in the interim should greatly exceed $500,000. This equates to a potential return of $3-4 million from todays $159-238k downpayment. Consider adding 22 Dollard Street in Embrun as a flagship property and long-term staple to your portfolio. Note: Financials discussed in the video are outdated; please refer the the updated numbers listed here. Photos taken prior to current tenancies.
Location
Province ON
County Prescott And Russell
Community 602 - Embrun
Area Prescott And Russell
Rooms
Family Room Yes
Basement Apartment
Kitchen 2
Separate Den/Office 3
Interior
Interior Features Storage,Accessory Apartment,Carpet Free,Separate Hydro Meter
Cooling Wall Unit(s)
Fireplace No
Heat Source Electric
Exterior
Parking Features Private
Garage Spaces 1.0
Pool None
Roof Type Asphalt Shingle
Lot Frontage 77.9
Lot Depth 195.03
Total Parking Spaces 6
Building
Foundation Block
Others
Virtual Tour https://www.youtube.com/watch?v=eWy3zxVZV5k