For Sale · Multifamily

35 Catherwood, Saint John

35 Catherwood, Saint John, NB E2M3V8

$189,900 total

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Asset Class

Multifamily

Size

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Building class

B

Zoning

RA9 — High Rise

$ / SF

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Occupancy

83%

Lot Size

0.1148989898989899 ac

About this property

Two vacant units, each offering 2 bedrooms and 1 bathroom, in a desirable West Side Saint John location! Whether you're looking to add to your investment portfolio or live in one unit while renting the other, this duplex offers the flexibility to make it your own. Both units have undergone significant renovations and are move-in ready, with a few additional updates remaining. The roof shingles were replaced in 2024, the porch has been lifted and supported, and new stairs and railings have been installed. Each unit features its own electrical meter and in-unit laundry. Both units were previously rented for a combined $2800 per month, with tenants paying their own utilities. With both units currently vacant, the new owner has the opportunity to select their own tenants and establish market rent from day one. Conveniently located near shopping, schools, and everyday amenities, with quick access to the highway for an easy commute. The property also features a private backyard. A great opportunity to own a duplex in an established West Side neighbourhood, with the flexibility to generate rental income or have a tenant help offset your mortgage. Seller is a licensed real estate salesperson in the Province of New Brunswick. (id:66811)

Financial sandbox

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Estimate
Purchase price$190K
Down payment30% · $57K
Interest rate6.25%
Amortization25 years
Occupancy83%
Expense growth2.5%

Monthly debt service

$877

Projected NOI

$6K

Annual cash flow

$-5K

Cash-on-cash

-8.38%

DSCR

0.55

Going-in cap

3.03%

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

39,770

Households

16,394

Median income

$132,500

Median age

37.1

Daytime population

44,225

5-yr growth

1.8%

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

Secure deal room

Confidential diligence documents for 35 Catherwood, Saint John.

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.