12 Richard St

Quinte West, K8V 1V1
FOR SALE
$449,900
12 Richard St, Quinte West
12 Richard St
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4
BEDROOMS
2
BATHROOMS
2
KITCHENS
10
ROOMS
X9045416
MLSID
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Property Description
Lets talk about this versatile property, suitable for owners or investors alike. This is a fully detached building that includes BOTH halves of semi-detached units under one ownership. This property represents tremendous value as either a single-family home or as investment property. It allows you several options. OPTION 1. Live in one side and let the other unit help pay your mortgage. OPTION 2. Live in one side & have a family member reside next door in the other semi-detached unit. OPTION 3. Open up a dividing wall and live in the entire building. OPTION 4. Purchase as an investment property bringing you $43,200 of Gross Rental Income & a 8.71% CAP RATE. AMAZING RETURN ON INVESTMENT. Brick & stucco side-by-side dwellings. One unit fully occupied & the other unit recently empty. Ready for the next owner to choose their occupancy options or investors can pick their own tenant & set their own rents. No need to assume tenancies with rents far too low, this multi-residential home can provide positive cash flow right away. Both units metered separately for: gas, hydro & water/sewer. Unit A is a 2 bed, 1 bath, 2sty unit with tenant paying $1600/mth ++. Tenant has been in place since Dec. 2023 & has a 1yr lease. Unit has a wrap-around front porch, fully fenced backyard & 1 parking spot. Heating is gas wall furnace & Electric baseboards. Unit B is vacant & ready for the open market. This bungalow layout has 2 bdrms, 1 bath, formal living rm & dining rms, eat-in kitchen & patio door to fenced backyard. It also has full, unfinished bsmt with laundry plus: hdwd flooring, ornate woodwork, crown moulding, gas furnace, C/Air & 1 parking spot. Affordable place to call home, or great addition to your investment portfolio.
Listing History
List Date End Date Days Listed List Price Sold Price Status
2024-04-19 2024-07-18 90 $449,900 - Terminated
Extras
Gross rental income $43,000. Expenses $4008.26. Net Operating Income $39,191.74. Financial numbers available, showing income and expenses. Gross annual rent is calculated based on a projected monthly rent for the vacant unit of $2000++.
Property Features
Fenced Yard, Golf, Hospital, Marina, Park, School
Property Details
Property Type
Detached, 1 1/2 Storey
Approximate Sq.Ft.
1500-2000
Lot Size
43' x 100'
Acreage
< .50
Fronting
North
Taxes
$3,007 (2024)
Basement
Full, Unfinished
Exterior
Brick, Stucco/Plaster
Heat Type
Forced Air
Heat Source
Gas
Air Conditioning
Central Air
Water
Municipal
Parking Spaces
2
Driveway
Pvt Double
Garage Type
None
Room Summary
RoomLevelSizeFeatures
KitchenMain8.50' x 10.66'
DiningMain14.24' x 11.32'
LivingMain11.42' x 17.75'
2nd Br2nd6.99' x 13.58'
Prim Bdrm2nd11.15' x 16.50'
3rd BrMain9.84' x 11.75'
LivingMain11.68' x 19.00'
4th BrMain9.51' x 11.75'
DiningMain9.58' x 11.58'
KitchenMain11.48' x 11.32'
Quinte West Market Statistics
Quinte West Price Trend
12 Richard St is a 4-bedroom 2-bathroom home listed for sale at $449,900, which is $150,100 (25.0%) lower than the average sold price of $600,000 in the last 30 days (August 21 - September 19). During the last 30 days the average sold price for a 4 bedroom home in Quinte West increased by $107,750 (21.9%) compared to the previous 30 day period (July 22 - August 20) and down $50,000 (7.7%) from the same time one year ago.
Inventory Change
There were 9 4-bedroom homes listed in Quinte West over the last 30 days (August 21 - September 19), which is down 40.0% compared with the previous 30 day period (July 22 - August 20) and down 30.8% compared with the same period last year.
Sold Price Above/Below Asking ($)
4-bedroom homes in Quinte West typically sold $0 (0.0%) below asking price over the last 30 days (August 21 - September 19), which represents a $9,575 increase compared to the previous 30 day period (July 22 - August 20) and $1,000 less than the same period last year.
Sales to New Listings Ratio
Sold-to-New-Listings ration (SNLR) is a metric that represents the percentage of sold listings to new listings over a given period. The value below 40% is considered Buyer's market whereas above 60% is viewed as Seller's market. SNLR for 4-bedroom homes in Quinte West over the last 30 days (August 21 - September 19) stood at 55.6%, down from 80.0% over the previous 30 days (July 22 - August 20) and down from 253.8% one year ago.
Average Days on Market when Sold vs Delisted
An average time on the market for a 4-bedroom 2-bathroom home in Quinte West stood at 23 days when successfully sold over the last 30 days (August 21 - September 19), compared to 90 days before being removed from the market upon being suspended or terminated.
Listing contracted with Royal Lepage Proalliance Realty
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