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For Sale · Multifamily

2862 6 HIGHWAY, Northern Bruce Peninsula

2862 6 HIGHWAY, Northern Bruce Peninsula, ON N0H1W0

$439,000 total

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Asset Class

Multifamily

Size

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Building class

C

Zoning

RA8 — Medium Rise

$ / SF

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Occupancy

95%

About this property

If you're looking for a large family home, this solid brick two storey - four bedrooms, four baths home in Ferndale just might be the right fit for you. Situated on a good sized lot being 100 feet wide by 150 feet deep. Step inside and you'll find on the main floor, an eat-in kitchen, separate living and dining room, a den with a propane fireplace and with a walkout, large primary bedroom, a second bedroom, a four piece bathroom, an office space, laundry with a two piece bath and an additional three piece bath just off from the office area. The second is completely self contained and could be used as excellent long term rental - with its own separate entrance. There is a large bedroom with an open concept living/kitchen, and a four piece bathroom. There is also an additional space that has a bedroom and a 3 piece bathroom. The home is equipped with a generator (2025) that runs the entire home incase of a power outage. There is a heat pump in the den. Electric baseboard heat throughout. The detached garage/workshop offers plenty of space to do some hobby work or you can park the vehicle inside. Driveway is concrete. The well is shared with the neighbour to the north and is registered on title. The septic system will need to be replaced. Property is zoned as a duplex. Property is also just a short drive to Lion's Head and is centrally located between Wiarton and Tobermory. The property is being sold AS IS by the Estate. Taxes:$3137.09. (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$439K
Down payment30% · $132K
Interest rate6.25%
Amortization25 years
Occupancy95%
Expense growth2.5%

Monthly debt service

$2K

Projected NOI

$21K

Annual cash flow

$-3K

Cash-on-cash

-2.52%

DSCR

0.86

Going-in cap

4.79%

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

82,394

Households

33,729

Median income

$111,500

Median age

45.7

Daytime population

123,216

5-yr growth

8.7%

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

Secure deal room

Confidential diligence documents for 2862 6 HIGHWAY, Northern Bruce Peninsula.

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.