For Sale · Multifamily

166 YOUNG STREET, Welland (Welland Downtown)

166 YOUNG STREET, Welland (Welland Downtown), ON L3B4C8

$379,900 total

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Asset Class

Multifamily

Size

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Building class

A

Zoning

RA9 — High Rise

$ / SF

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Occupancy

82%

About this property

An opportunity to get into homeownership with room for extended family and future income potential! Welcome to 166 Young Street in Welland, a cute 1-storey home located near downtown, schools and the Farmers' Market, with Highway 406 just minutes away. Built in 1900, this duplex is currently being enjoyed as a single-family home, with a barn door connecting the two living spaces. Updated flooring throughout, new carpeting on the stairs and a farmhouse-style kitchen refresh with a new backsplash add to the home's charm.The front portion offers a living room, kitchen and basement access, with two bedrooms and a four-piece bathroom upstairs. The side/rear unit features one bedroom, a galley kitchen, main-floor laundry and its own entrance through the back mudroom. Whether you're buying your first home or hoping to keep a family member close while giving them their own space, there's plenty to appreciate here.The long driveway provides side-by-side parking at the front, additional parking along the house and access to a shed for storage. Furnace updated in 2019. Buyers considering separate rental use will need to complete the required fire separation, including addressing the current barn-door connection, and verify all applicable requirements. With vacant possession available, you can move in and make it your own or complete the necessary work before welcoming future tenants. An opportunity for first-time buyers, extended families and investors alike! (id:66811)

Financial sandbox

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Estimate
Purchase price$380K
Down payment30% · $114K
Interest rate6.25%
Amortization25 years
Occupancy82%
Expense growth2.5%

Monthly debt service

$2K

Projected NOI

$13K

Annual cash flow

$-8K

Cash-on-cash

-6.64%

DSCR

0.64

Going-in cap

3.55%

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

107,094

Households

42,835

Median income

$73,000

Median age

39.5

Daytime population

157,133

5-yr growth

1.6%

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

Secure deal room

Confidential diligence documents for 166 YOUNG STREET, Welland (Welland Downtown).

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.