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3-5 N Mary Street N

901 - Smiths Falls, Smiths Falls, K7A 3R6

$509,900

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  • 7 bedrooms
  • 4 bathrooms
  • 6 parking
  • 2500-3000 sq ft

Listed 12 days ago · MLS® X13874990

About this home

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

Type
Duplex
Style
2-Storey
Size
2500-3000 sq ft
Lot
66 × 132 ft
Basement
Unfinished
Garage
None
Kitchens
2
Property tax
$3,919 (2026)
Neighbourhood
901 - Smiths Falls
Municipality
Smiths Falls

Interior

Bedrooms
7 above ground
Bathrooms
1 × 3-piece (second), 1 × 3-piece (second), 1 × 2-piece (second), 1 × 2-piece (second)
Rooms
18 above ground
Family room or den
No
Fireplace
No
Features
Storage

Heating, cooling and services

Heating
Forced Air, Gas
Air conditioning
Window Unit(s)
Water and sewer
Sewer

Building and exterior

Style
2-Storey
Exterior
Metal/Steel Siding
Roof
Asphalt Shingle
Foundation
Stone
Faces
West

Parking

Total parking
6

Lot

Size
66 × 132 ft (irregular)

More

Possession
Tenanted
Cross street
Main St E & William St E

Rooms

RoomLevelSizeFeatures
Family RoomMain
Dining RoomMain
KitchenMain
LaundryMainB/I Appliances
Utility RoomMain
BedroomSecond3 Pc Ensuite
Bedroom 2Second
Bedroom 3Second
Bedroom 4Second
BathroomSecond3 Pc Bath
Family RoomMain
Dining RoomMain
KitchenMain
Utility RoomMain
BedroomSecond
Bedroom 2Second
Bedroom 3Second
BathroomSecond3 Pc Bath

Listed by ROYAL LEPAGE PERFORMANCE REALTY.

Listing information provided by PropTx Innovations Inc. and TRREB; deemed reliable but not guaranteed accurate by PropTx.

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