3-5 N Mary Street N,Smiths Falls, ON K7A 3R6
Smiths Falls, ON K7A 3R6
Description
INVESTOR OPPORTUNITY! Income-producing two-unit property offering strong current rental income, substantial recent capital investment and future value-add potential. The two fully renovated units generate $4,375/month in current gross rent, or $52,500 annually, with 0% current vacancy/credit loss and a history of rents being paid on time or early. Improvements and repairs over the past 3-4 years, including fully renovated units, new appliances, replacement windows, newer furnaces, plumbing improvements, basement sump pumps and additional updates.The 4-bedroom, 1.5-bath unit at 3 Mary features a fenced backyard, parking, unfinished basement and furnace installed in 2024. The 3-bedroom, 1.5-bath unit at 5 Mary offers a large fenced backyard, generous driveway parking, unfinished basement and furnace installed in 2024. Tenants pay gas and hydro directly, while lawn/yard maintenance and snow removal are tenant responsibilities.The property offers approximately $52,500 in current annual gross rental income and a 10.50% gross rental yield based on the 2024 appraised value of $500,000. Potential future upside may include rental optimization, additional property improvements and investigation of severance/land-use potential, subject to municipal approvals and due diligence.An excellent opportunity for investors seeking an established income-producing property with significant recent improvements and potential for further value creation.
Details
| MLS # | X13874990 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | New |
| Year | 0 |
| Days On Site | 12 |
| Listing Provided By | ROYAL LEPAGE PERFORMANCE REALTY | X13874990 506700 |
Features
| Bed(s) | 7 |
|---|---|
| Bath(s) | 4 |
| Basement | Y |
| Story(s) | 2 |
| Acreage | 0.20 |
Interior
| Interior Features | Storage |
|---|---|
| Cooling | Window Unit(s) |
| Heat Source | Gas |
| Fireplace Yes / No | No |
Exterior
| Roof | Asphalt Shingle |
|---|---|
| Foundation Details | Stone |
| Construction Materials | Metal/Steel Siding |
Parking
| Garage Yes / No | No |
|---|
Utilities
| Sewer | Sewer |
|---|
Taxes
| Tax Annual Amount | 3919 |
|---|---|
| Tax Legal Description | PT LT 124 N/S MAIN ST PL 13884 LANARK S MONTAGUE; PT LT 125 N/S MAIN ST PL 13884 LANARK S MONTAGUE AS IN RS191037 ; TOWN OF SMITHS FALLS |
| Tax Year | 2026 |
Area Information
| Province | ON |
|---|---|
| County | Lanark |
| City | Smiths Falls |
| Postal Code | K7A 3R6 |
| Area | 901 Smiths Falls |
| Listing VS Median (in K7A 3R6) | |
Price: $509,900 low | high Med: $0 On site: 12 low | high Med: | |
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Learn More About This Property
| Province | ON |
|---|---|
| County | Lanark |
| City | Smiths Falls |
| Postal Code | K7A 3R6 |
| Area | 901 Smiths Falls |
| Listing VS Median (in K7A 3R6) | |
Price: $509,900 low | high Med: $0 On site: 12 low | high Med: | |
