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For Sale · Multifamily

10 Morris Street, Springhill

10 Morris Street, Springhill, NS B0M1X0

$289,900 total

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Asset Class

Multifamily

Size

—

Building class

C

Zoning

RA9 — High Rise

$ / SF

—

Occupancy

85%

Lot Size

0.2965 ac

About this property

This wonderful property offers two separate living spaces under one roofa beautifully updated three-bedroom family home at the front and a one-level suite at the rear. Whether you're looking for a mortgage helper, multigenerational living, or an income-generating investment, this property delivers exceptional flexibility for your needs. Extensively renovated, the home features numerous recent upgrades including a new rear deck, some windows, patio doors and sill, renovated bathroom, new flooring in both units, and kitchen improvements in both living spaces. Additional enhancements include spray foam insulation, new eavestroughs, upgraded electrical with a 200-amp service for the main home, a separate 100-amp panel for the suite, and a generator panel for added peace of mind. A ventilation system has also been installed, and the basement has been kept dry, providing excellent storage space. Outside, you'll appreciate the fully fenced backyard, perfect for children and pets, along with a new gazebo, attractive perennial gardens, shrubs, a garden shed, a level lot, and a double paved driveway. And it's close to all amenities in Springhill. The only decision left is how you'll make the most of this incredible property - live in one unit and rent the other, accommodate extended family, or add a strong investment to your portfolio. (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$290K
Down payment30% · $87K
Interest rate6.25%
Amortization25 years
Occupancy85%
Expense growth2.5%

Monthly debt service

$1K

Projected NOI

$9K

Annual cash flow

$-7K

Cash-on-cash

-8.42%

DSCR

0.54

Going-in cap

3.02%

Figures are modelled from the listed price and asset class for illustration only. Verify all income, expenses, and financing terms independently before making an offer.

Area demographics

Trade area within 3 miles of the property.

Population

145,926

Households

67,520

Median income

$117,000

Median age

32.3

Daytime population

246,646

5-yr growth

1.4%

Modelled estimates for illustration until a licensed census data provider is connected.

Secure deal room

Confidential diligence documents for 10 Morris Street, Springhill.

NDA required

  • Offering Memorandum

    PDF · 4.2 MB

  • Rent Roll & T-12

    XLSX · 820 KB

  • Environmental Phase I

    PDF · 6.7 MB

  • Site Survey & Plans

    PDF · 11.4 MB

  • Zoning Confirmation Letter

    PDF · 310 KB

Preview experience — the electronic NDA is illustrative and is not a binding agreement.