Address
378 Barrie Street, Kingston (East of Sir John A. Blvd), ON
Price
$ 559,000
Property Attributes
- ID#X13736054
- TypeSingle Family
- Listing Status Active
- MunicipalityKingston (East of Sir John A. Blvd)
- CityKingston (East of Sir John A. Blvd)
- Area22 - East of Sir John A. Blvd
- Neighbourhood22 - East of Sir John A. Blvd
- Postal CodeK7K 3T4
- Style
- Price$ 559,000
- Bedrooms5
- Bathrooms2
- Half Bathrooms0
Data Source:
Canadian Real Estate Association (CREA)
Property Description
6.8% Net Cap Rate with Additional Income Upside. An exceptional turnkey investment opportunity with $43,200 in annual gross rental income and a 6.8% net cap rate, with further potential to increase revenue. The property is currently rented as a 4-bedroom student rental at $3,600 per month plus tenants pay utilities, with a lease in place until the end of April 2027 with the high possibility of these tenants renewing their leases. Located within walking distance of downtown Kingston and Queen's University, this property benefits from a highly desirable location and consistent demand for student housing. The property has been well maintained and consistently occupied, offering investors immediate income while providing clear upside potential. With the existing four-bedroom configuration generating a 6.8% net cap rate, the opportunity to add rental income through the currently unused bedroom, potential dining-room conversion, and parking space creates the potential for an even stronger return over time. There is meaningful opportunity to increase the property's income beyond the current $43,200 annual rent. The home includes a fifth, smaller bedroom on the second floor that is not currently being rented, along with the potential to convert the existing dining room into an additional bedroom. There is also one dedicated parking space that could potentially be monetized separately. These opportunities provide investors with several avenues to enhance future rental income with relatively modest improvements. Laundry is located in the lower level full height basement. (id:7434)
General Features
| Features | Carpet Free |
|---|---|
| Property Type | Single Family |
| CommunityName | 22 - East of Sir John A. Blvd |
| Building Appliances | Water Heater, Dryer, Stove, Washer, Refrigerator |
| Building Cooling Type | None |
| Location Description | Cross Streets: queen st. ** Directions: north of princess st then queen st to barrie st. |
| Parking Space Total | 1 |
| Foundation Type | Stone |
| Building Type | House |
| Ownership Type | Freehold |
| Building.StoriesTotal | 2 |
Interior Features
| Building Fireplace Present | False |
|---|---|
| Building Heating Type | Forced air |
| Building Heating Fuel | Natural gas |
| Basement Development | Unfinished |
| Basement Type | N/A (Unfinished) |
| Construction Style Attachment | Semi-detached |
| Living Area Range | 1100 |
| Bedrooms | 5 |
Exterior Features
| Sewer | Sanitary sewer |
|---|---|
| Exterior Finish | Vinyl siding |
Room Details
| Room | Dimensions | Level | Flooring | Details |
|---|---|---|---|---|
| Bathroom | 1.75 m x 1.5 m | Ground level | 1.5 m | |
| Bedroom | 2.64 m x 3.25 m | Ground level | 3.25 m | |
| Bedroom 2 | 3.14 m x 2.34 m | Second level | 2.34 m | |
| Bedroom 3 | 2.67 m x 3.25 m | Second level | 3.25 m | |
| Bedroom 4 | 2.8 m x 4.93 m | Second level | 4.93 m | |
| Bedroom 5 | 3.14 m x 3.16 m | Second level | 3.16 m | |
| Dining room | 3.6 m x 3.16 m | Ground level | 3.16 m | |
| Kitchen | 3.94 m x 3.39 m | Ground level | 3.39 m | |
| Living room | 4.86 m x 3.14 m | Ground level | 3.14 m |
Amenities
- Views
- New Construction
- Adult 55+
- Lease To Own
- No Strata Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Single Family Average in K7K 3T4
Price
In The Neighbourhood
Kingston (East of Sir John A. Blvd)
$ 449,900
- Type
- Single Family
- Rooms
- 3 Beds + 2 Baths
RE/MAX FINEST REALTY INC., BROKERAGE
Kingston (East of Sir John A. Blvd)
$ 1,099,900
- Type
- Single Family
- Rooms
- 8 Beds + 2 Baths
RE/MAX SERVICE FIRST REALTY INC., BROKERAGE
Kingston (East of Sir John A. Blvd)
$ 525,000
- Type
- Single Family
- Rooms
- 2 Beds + 1 Baths
RE/MAX FINEST REALTY INC., BROKERAGE
Kingston (East of Sir John A. Blvd)
$ 475,000
- Type
- Single Family
- Rooms
- 2 Beds + 1 Baths
ROYAL LEPAGE PROALLIANCE REALTY, BROKERAGE
Kingston (East of Sir John A. Blvd)
$ 449,900
- Type
- Single Family
- Rooms
- 2 Beds + 1 Baths
ROYAL LEPAGE PROALLIANCE REALTY, BROKERAGE
Kingston (East of Sir John A. Blvd)
$ 399,000
- Type
- Single Family
- Rooms
- 3 Beds + 1 Baths
SUTTON GROUP-MASTERS REALTY INC., BROKERAGE
Kingston (East of Sir John A. Blvd)
$ 529,900
- Type
- Single Family
- Rooms
- 3 Beds + 1 Baths
RE/MAX FINEST REALTY INC., BROKERAGE
Kingston (East of Sir John A. Blvd)
$ 424,900
- Type
- Single Family
- Rooms
- 4 Beds + 2 Baths
ROYAL LEPAGE PROALLIANCE REALTY, BROKERAGE
Kingston (East of Sir John A. Blvd)
$ 599,900
- Type
- Single Family
- Rooms
- 5 Beds + 2.5 Baths
RE/MAX FINEST REALTY INC., BROKERAGE
Kingston (East of Sir John A. Blvd)
$ 457,500
- Type
- Single Family
- Rooms
- 4 Beds + 2 Baths
ROYAL LEPAGE PROALLIANCE REALTY, BROKERAGE
Kingston (East of Sir John A. Blvd)
$ 629,900
- Type
- Single Family
- Rooms
- 3 Beds + 2 Baths
ROYAL LEPAGE PROALLIANCE REALTY, BROKERAGE
Kingston (East of Sir John A. Blvd)
$ 479,000
- Type
- Single Family
- Rooms
- 4 Beds + 2 Baths
RE/MAX RISE EXECUTIVES, BROKERAGE
Data provided by the Ontario Regional Technology & Information Systems. The information is deemed reliable, but is not guaranteed. Not intended to solicit buyers or sellers, landlords or tenants currently under contract.
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned