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For Sale · Multifamily

77 Mecklenburg Street, Saint John

77 Mecklenburg Street, Saint John, NB E2L1P9

$539,000 total

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Asset Class

Multifamily

Size

—

Building class

B

Zoning

RF6 — Medium Density

$ / SF

—

Occupancy

94%

Lot Size

0.11464646464646465 ac

About this property

Welcome to 77 Mecklenburg, a distinctive Italianate duplex built in 1879 and thoughtfully updated for modern living. Youll feel welcome and protected from weather on the front verandah which leads to separate entrances to each unit. The extensively renovated upper-level two-bedroom unit pairs contemporary finishes with the homes original architectural character. Its inviting kitchen features timeless shaker-style cabinetry, tasteful quartz countertops, newer appliancesincluding a gas rangeand a generous peninsula with seating plus a cozy reading/relaxing space with comphy chairs. Adjacent youll find a very intimate formal dining room. A private laundry room complete this area. Hand-hewn wainscotting leads through the front half of the unit, where youll find a comfortable primary bedroom, a bright living room, and a modern three-piece bath. The second bedroom, currently used as a nursery opens onto a cozy private outdoor balcony. On the main floor, warm wood tones celebrate the homes historic charm. This welcoming two-bedroom unit flows to the rear through the dining area to a functional U-shaped kitchen and a spacious laundry room. Moving forward from the entrance youll find a large bright living room with bay window and original fireplace mantle and surrounds, a fresh modern full bath is adjacent. Check out the floor plan to get the full lay-out. Outside, recent improvements include a new roof, vinyl siding, and a paved driveway. Accessible from both units, the fully fenced, tiered backyard offers a private retreat framed by a seasonally lush landscape of lilacs, cherry blossoms, and more. A full and tall basement may have additional possibilities. Within walking distance of local markets, restaurants, and attractions, 77 Mecklenburg puts the best of Uptown close at hand. A perfect first time home with income. (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$539K
Down payment30% · $162K
Interest rate6.25%
Amortization25 years
Occupancy94%
Expense growth2.5%

Monthly debt service

$2K

Projected NOI

$26K

Annual cash flow

$-4K

Cash-on-cash

-2.61%

DSCR

0.86

Going-in cap

4.76%

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

62,547

Households

25,582

Median income

$79,500

Median age

43.6

Daytime population

86,086

5-yr growth

7.3%

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

Secure deal room

Confidential diligence documents for 77 Mecklenburg Street, 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.