For Sale: 715 Gerard Street, Alfred, ON - REW
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$569,999
5 bd • 2 ba • 1100 - 1499 sf • House
715 Gerard Street
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$569,999
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715 Gerard StreetAlfred, ON, K0B 1L0

  • 5 Bed
  • 2 Bath
  • 1100 - 1499 Sqft
  • House

About this home

INVESTMENT OPPORTUNITY | LEGAL DUPLEX | ~5.0% CAP RATE | CASH FLOW POSITIVE. Welcome to 715 Gerard Street - a legal, income-producing duplex in the heart of Alfred and Plantagenet, offering the rare combination of strong cash flow, a built-in mortgage helper, and flexibility for both investors and future owner-occupants.This turnkey property features two self-contained units. The upper unit will be delivered vacant at closing, with an established market rent of $2,000/month - giving a buyer the choice to rent it out immediately or move in themselves and let the lower unit carry a significant share of the mortgage. The lower unit is home to an excellent, long-standing tenant paying $1,500/month, who is happy to stay on. With both tenants responsible for their own utilities (other than water) and estimated operating expenses of approximately $1,200/month, this property delivers an impressive cap rate of approximately 5.0% and positive cash flow from day one - a rare find in today's market. For the investor, it's a fully tenanted (or nearly so) income property with room to grow. For the owner-occupant, it's a mortgage buster: live upstairs, rent the lower unit, and enjoy monthly housing costs far below what you'd pay renting a comparable home outright. Upper Unit: 3 bedrooms, 1 bathroom, large eat-in kitchen, spacious living room, and a private yard. Lower Unit: 2 bedrooms, 1 bathroom, large kitchen, spacious living room, and its own private yard. Set on an oversized 94' x 94.62' lot with a carport, the property is centrally located in Alfred and Plantagenet, close to all local amenities, just 20 minutes to Rockland, and 45 minutes to Ottawa.Recent updates include: new roof (2021), new furnace and hot water tank, new flooring (2013), and new windows throughout (excluding the bay window and patio doors). (id:63626)
Listed by: Alyssa Colizza, Salesperson, RIGHT AT HOME REALTY

Home facts and features

Price details
List Price
$569,999
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Gross Taxes for 2025
$3,202
Home facts
Bedrooms
5
Full Bathrooms
2
Parking Spaces
4
Parking Details
No Garage, Carport
Property Type
House
Lot Size
94 ft x 94 ft (8892 ft²)
Depth
94.6 feet
Frontage
94.0 feet
Title
Freehold
Style
Bungalow
Exterior Finish
Brick, Stone
Heating Type
Forced air, Natural gas
Basement Details
Apartment in basement, Separate entrance, ,
Appliances
Dishwasher, Dryer, Two Refrigerators, Two Washers, Two stoves
Agent details
Primary Agent
Alyssa Colizza
Primary Broker
RIGHT AT HOME REALTY
Secondary Agent
Tina Colizza
Secondary Broker
RIGHT AT HOME REALTY
Listing details
Days on REW
1 Day
MLS® Number
X13830206
Source
Canadian Real Estate Association
Board
Ottawa Real Estate Board
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25 Years
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Property Insights

É Élém C Saint-Paul
  • Catholic
  • JK - 6
Plantagenet Public School
  • Public
  • JK - 6
ÉS C de Plantagenet
  • Catholic
  • 9 - 12
ÉI catholique - Pavillon Plantagenet
  • Catholic
  • 7 - 8
School catchments and distances are intended to be used as reference only. To verify enrolment eligibility for a property, contact the school directly.Report Incorrect Info
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Call Agent
Salesperson
Alyssa Colizza
Phone:
(613) 818-0439
Office:
613-369-5199
Salesperson
Tina Colizza
Phone:
(613) 818-0384
Office:
613-369-5199
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