For Sale: 101 New Cove Road, St Johns, NL

About this home

Income-Generating Investment Property with Three Separate Living Spaces! Offering excellent versatility and income potential, this unique property features a two-apartment home plus an additional registered in-law suite with a separate entrance. With two units leased and a third recently renovated, this is an attractive opportunity for investors or buyers looking to offset their mortgage with rental income. The main unit offers 3 bedrooms, a spacious living room, separate dining room, kitchen, laundry, and 1.5 bathrooms, including a half bath in the primary bedroom. Currently leased for $2,300/month, utilities included. The registered in-law suite features a studio-style kitchen and living area with peninsula, separate bedroom, and 3-piece bathroom. It is currently leased for $1,100/month, utilities included, and shares an electrical service with the main unit. The 2-bedroom apartment has its own dedicated electrical service and has recently been updated with new flooring throughout and fresh paint. It includes a kitchen, living room, bathroom, and laundry hookups. Currently vacant following renovations, it has a projected rental income of $1,500/month POU (plus utilities). When fully rented at the stated rates, the property offers potential gross rental income of $4,900/month ($58,800 annually), before expenses. The oversized lot features mature trees, a fully fenced rear yard, rear yard access, a storage shed, and two driveways with parking for 7+ vehicles. The roof was newly shingled in 2026. With multiple living spaces, established rental income, additional income potential, and recent upgrades, this property is an excellent opportunity for investors! As per the seller’s direction, no offers will be conveyed until Tuesday, November 4th at 4:00 PM. All offers to remain open until 9:00 PM. (id:63626)

Listed by: Andrew Collins, eXp Realty

Home facts and features

Price details

List Price

$485,000

Gross Taxes for 2026

$2,881

Home facts

Bedrooms

Full Bathrooms

Partial Bathrooms

Property Type

Apt/Condo

Year Built

Built in 1955 (71 yrs old)

Title

Freehold

Exterior Finish

Vinyl siding

Heating Type

Baseboard heaters, Electric

Appliances

Dishwasher, Dryer, Washer

Agent details

Primary Agent

Andrew Collins

Primary Broker

eXp Realty

Listing details

Days on REW

1 Day

MLS® Number

1304910

Source

Canadian Real Estate Association

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Property Insights

Schools nearby

4 Schools are within 2km

MacDonald Drive Elementary School

n/a
K - 6
In Catchment

MacDonald Drive Junior High School

n/a
7 - 9
In Catchment

Virginia Park Elementary School

n/a
K - 6
In Catchment

St. Paul's Junior High

n/a
7 - 9
In Catchment

101 New Cove RoadSt Johns, NL, A1A 2C2