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104 Mill Street Russell, Ontario K4R 1B8

Central Air Conditioning Forced Air, Radiant Heat

$649,900

This 13-yr-old home has two units, a full 3-bed, 3 bath house plus a legal 2-bed basement apartment. Among the highest earning dual-unit homes on market in recent memory. The main flagship unit is the perfect fit for a family. HOMEOWNERS: Income from basement unit pays for up to 82% of the mortgage; remaining payment is approx. $339. INVESTORS: Rents sum to $2890/mo, $35k/yr. Tenants pay all utilities. Your expenses are simply tax and insurance. Resulting net income is $29,412. At 1.85% over 30yrs the mortgage is $1,883 and cash flow is a stellar $600/mo. LONG-TERM: over 30yrs this property will carry itself plus cash flow $210k even without rent increases. At 5% appreciation/yr this property could be worth $2.8M when paid off in 30yrs. Thats 15x the avg. Canadians retirement savings. Russell has an extreme rental shortage with vacancy near zero. Modern build suggests low maintenance for foreseeable future. (id:40884)

Property Details

MLS® Number 1269779
Property Type Multi-family
Neigbourhood Russell
Parking Space Total 3

Building

Basement Development Finished
Basement Type Full (finished)
Constructed Date 2008
Construction Material Wood Frame
Cooling Type Central Air Conditioning
Exterior Finish Siding
Flooring Type Wall-to-wall Carpet, Laminate, Tile
Foundation Type Poured Concrete
Heating Fuel Natural Gas, Electric
Heating Type Forced Air, Radiant Heat
Stories Total 2
Type Duplex
Utility Water Municipal Water

Parking

Attached Garage
Surfaced

Land

Acreage No
Current Use Development Residential
Sewer Municipal Sewage System
Size Depth 99 Ft ,1 In
Size Frontage 28 Ft ,3 In
Size Irregular 0.06
Size Total 0.06 Ac
Size Total Text 0.06 Ac
Zoning Description R2

https://www.realtor.ca/real-estate/23800121/104-mill-street-russell-russell

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Carley Humphries
Salesperson

(613) 986-0898

Keller Williams Integrity Realty
2148 Carling Ave., Units 5 & 6
Ottawa, ON K2A 1H1

(613) 829-1818
(613) 829-3223
www.kwintegrity.ca

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