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$ 520,000
Est. payment | /mo
4 Beds
2 Baths
$ 520,000
Est. payment | /mo
4 Beds
2 Baths
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Approx. Sqft 1100-1500
Subdivision Midland
MLS Listing ID S14105432
Style Bungalow-Raised
Bedrooms 4
Annual Tax Amount $4,067
Tax Year 2025
Property Sub-Type Duplex
Property Description
Legal Duplex in Midland - Excellent Opportunity for Investors or Owner-Occupiers! A combination of space, flexibility and income potential, this legal duplex in Midland is an excellent opportunity for investors or buyers looking to offset their mortgage with rental income.Conveniently located in an established neighbourhood close to the Catholic high school. Four bedrooms in the upper unit and three bedrooms in the lower unit. Recently completed approximately $25,000 in renovations in the upper vacant unit. The new owner to move in immediately or select their own tenant. Estimated market rent for this unit is approximately $2,600 per month inclusive.The lower unit is occupied by an excellent long-term tenant on a month-to-month tenancy, currently paying $1,835 per month inclusive. With both units rented at the current and estimated rates, the property offers potential gross rental income of $4,435 per month, or $53,220 annually.For buyers considering the investment potential, the property has an established rental history. Total utility costs for 2025, when both units were occupied, were $7,967, including hydro ($3,327), gas ($1,126), water and sewer ($1,468), and hot water heater, (approx $400.00).Whether you're an investor looking to expand your portfolio or a homeowner seeking the financial benefits of a second rental unit, this legal duplex offers versatility, established income and the opportunity to generate additional revenue from day one.
Location
State ON
County Simcoe
Area Simcoe
Rooms
Family Room No
Basement Finished, Full
Kitchen 2
Separate Den/Office 3
Interior
Interior Features In-Law Suite
Cooling None
Fireplace No
Heat Source Gas
Exterior
Garage Spaces 1.0
Pool None
Roof Type Asphalt Shingle
Lot Frontage 51.3
Lot Depth 101.0
Total Parking Spaces 3
Building
Foundation Block
Others
ParcelsYN No
Listed by RE/MAX By The Bay Brokerage
Nearby Locations