527 Front St
Quinte West, K8V 4R4
FOR SALE
$589,900
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2 + 2
BEDROOMS4
BATHROOMS2 + 2
KITCHENS6 + 6
ROOMSX10408156
MLSIDContact Us
Property Description
Investors take note. Looking for a great investment with long term tenants & 4 units generating rental income? That's right. This FOURPLEX is located in-town Trenton & offers a purpose-built 4-unit building. Duplexes are okay, Triplexes are good BUT this is a Fourplex which is the sweet spot for savvy real estate investors. With 4 units you greatly reduce vacancy losses due to more units bringing income. Fully Occupied with good tenants that take great care of the property. Strong monthly revenue produces over $42,000 of GROSS RENTAL INCOME. Hydro, Water/Sewer are metered separately (Landlord Pays Gas). Cap Rate Over 5.5%. Four units in total, 2 on Main & 2 on Lower. All Units have 1 Bd & 1 Bath, plus main entrances and secondary/emergency exits. Each unit also has their own patio areas plus there is a large, fenced yard that is shared. Unit 1 pays $650/Mth +Hydro & Water/Sewer. Tenant has been there approx. 13Yrs. Unit in excellent condition. Unit 2 is also in great condition & Tenant has been there since Sept. 2021. Tenant pays $875/Month +Hydro & Water/Sewer. Unit 3 has 1 Bd, 1 Bath. Tenant has been there 6.5Yrs & pays $650/Mth +Hydro, Water/Sewer. Unit 4 has was renovated 2022 with new vinyl flooring, new bath & updated kitchen. Tenant pays $1350/Mth +Hydro, Water/Sewer. Great income producing property & excellent tenants. Income statement avail upon request. Add this excellent building to your real estate investment portfolio. You wont be disappointed.
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Listing History
| List Date | End Date | Days Listed | List Price | Sold Price | Status |
|---|---|---|---|---|---|
| 2024-07-10 | 2024-10-31 | 113 | $599,900 | - | Expired |
| 2024-02-06 | 2024-04-30 | 84 | $649,900 | - | Expired |
| 2022-11-12 | 2023-02-15 | 95 | $600,000 | - | Expired |
Extras
Total monthly rental income - $3525. Total annual gross rental income - $42,300. Expenses approximately $9000 (see income and expenses document). Cap rate/return approximately 5.5%. Immediate possession available.
Property Features
Fenced Yard, Golf, Marina, Rec Centre, School Bus Route
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Property Details
Street
City
Property Type
Fourplex, Bungalow
Approximate Sq.Ft.
2000-2500
Lot Size
37' x 119'
Acreage
< .50
Fronting
East
Taxes
$3,455 (2024)
Basement
Finished, Full
Exterior
Stucco/Plaster
Heat Type
Forced Air
Heat Source
Gas
Air Conditioning
None
Water
Municipal
Parking Spaces
4
Driveway
Private
Garage Type
None
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Quinte West Market Statistics
Quinte West Price Trend
527 Front St is a 2-bedroom 4-bathroom home listed for sale at $589,900, which is $137,736 (30.5%) higher than the average sold price of $452,164 in the last 30 days (October 23 - November 21). During the last 30 days the average sold price for a 2 bedroom home in Quinte West declined by $154,346 (25.4%) compared to the previous 30 day period (September 23 - October 22) and down $80,336 (15.1%) from the same time one year ago.Inventory Change
There were 17 2-bedroom homes listed in Quinte West over the last 30 days (October 23 - November 21), which is down 15.0% compared with the previous 30 day period (September 23 - October 22) and down 0.0% compared with the same period last year.Sold Price Above/Below Asking ($)
2-bedroom homes in Quinte West typically sold ($3,624) (0.8%) below asking price over the last 30 days (October 23 - November 21), which represents a $2,401 decrease compared to the previous 30 day period (September 23 - October 22) and ($700) 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 2-bedroom homes in Quinte West over the last 30 days (October 23 - November 21) stood at 105.9%, down from 115.0% over the previous 30 days (September 23 - October 22) and up from 58.8% one year ago.Average Days on Market when Sold vs Delisted
An average time on the market for a 2-bedroom 4-bathroom home in Quinte West stood at 9 days when successfully sold over the last 30 days (October 23 - November 21), compared to 80 days before being removed from the market upon being suspended or terminated.Listing contracted with Royal Lepage Proalliance Realty
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