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).
Full Property Details
Interior
Bedrooms
5
Total Bedrooms
5
Washrooms
2
Square Footage
1100-1500 sqft
Basement
Separate Entrance,Apartment
Heating Source
Gas
Heating Fuel
Forced Air
Air Conditioning
None
Family Room
No
Kitchens
2
Total Kitchens
2
Fireplace Features
No
Bedrooms
5
Total Bedrooms
5
Washrooms
2
Square Footage
1100-1500 sqft
Basement
Separate Entrance,Apartment
Heating Source
Gas
Heating Fuel
Forced Air
Air Conditioning
None
Family Room
No
Kitchens
2
Total Kitchens
2
Fireplace Features
No
Exterior
Depth
94.62
Front
94.0
Lot Size
94 x 94.62 ft
Pool
None
Parking Spaces
2
Total Parking Spaces
4.00
Parking Description
Carport
Garage Spaces
2
Depth
94.62
Front
94.0
Lot Size
94 x 94.62 ft
Pool
None
Parking Spaces
2
Total Parking Spaces
4.00
Parking Description
Carport
Garage Spaces
2
Building Description
Style
Bungalow
Home Type
House
Subtype
Detached
Property Orientation
East
Exterior Finish
Brick,Stone
Sewers
Sewer
Water Supply
Municipal
Possession Date
No Data
Style
Bungalow
Home Type
House
Subtype
Detached
Property Orientation
East
Exterior Finish
Brick,Stone
Sewers
Sewer
Water Supply
Municipal
Possession Date
No Data
Community
Community
Plantagenet
Community
Plantagenet
Taxes & Fees
Taxes
$3,202 /yr
Tax Year
2025
Occupancy
Tenant
Taxes
$3,202 /yr
Tax Year
2025
Occupancy
Tenant
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