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612 ROMAINE STREET, Peterborough (Otonabee Ward 1) — listed at $599,900. Earn buyer cashback at closing. No catches, just more money in your pocket.
**LICENSED STUDENT RENTAL INVESTMENT - 10 BEDROOMS + GARAGE INCOME** Excellent investment opportunity at 612 Romaine Street. This established Peterborough student rental features ** 10 rentable bedrooms, 5 bathrooms, additional garage income and a City of Peterborough Rental Dwelling Large licence currently in place. **Current rental income is **$6,600/month with only one bedroom vacant**. Leasing the vacant room at the anticipated $800/month would increase potential income to approximately **$7,400/month or $88,800 annually**, based on the existing rent structure. **INVESTMENT HIGHLIGHTS: *10 rentable bedrooms, *5 bathrooms, *Garage rental income, *$6,600/month current income, *Only 1 bedroom currently vacant, *$7,400/month potential at full occupancy, *$88,800 potential annual gross income, *City of Peterborough rental licence, *Professional property management in place, *Current student-rental insurance quote available, *Multiple parking spaces. At **$659,900**, this property offers an attractive opportunity for investors seeking established student housing or an addition to an existing rental portfolio. An established income-producing property with **10 bedroom revenue streams, additional garage income and immediate upside from filling the single vacancy. **All income, expenses, licensing and investment information should be independently verified by the purchaser. (id:60164)
| Room | Level | Dimensions |
|---|---|---|
| Living room | Main level | 8.91 x 3.5 meters |
| Bedroom | Second level | 3.38 x 2.64 meters |
| Bedroom | Second level | 4.75 x 3.38 meters |
| Bedroom | Basement | 3.03 x 4.3 meters |
| Bedroom | Basement | 3.63 x 2.65 meters |
| Dining room | Main level | 4.11 x 2.67 meters |
| Bedroom | Basement | 4.87 x 3.24 meters |
| Recreational, Games room | Basement | 6.41 x 5.02 meters |
| Kitchen | Main level | 7.12 x 5.75 meters |
| Bedroom | Main level | 7.12 x 3.64 meters |
| Bedroom | Second level | 7.44 x 3.51 meters |
| Bedroom | Second level | 3.97 x 3.52 meters |
| Bedroom | Second level | 3.63 x 3.54 meters |
| Bedroom | Second level | 5.35 x 2.84 meters |
| Sitting room | Second level | 3.42 x 2.17 meters |
| Living room | Second level | 5.43 x 3.84 meters |
What's the parking situation?+
This property includes 6 spaces — Garage.
Is this a good starter home?+
At $599,900, this is priced in starter-home territory for Peterborough (Otonabee Ward 1). With multiple bedrooms, it has room to grow into. Factor in property taxes when calculating your true monthly cost.
Is there air conditioning?+
No central cooling is listed. Budget for portable or window units, or get a quote for adding central air — typically $5,000–$10,000 installed.
What are the ongoing costs beyond the mortgage?+
Budget for annual property taxes of $6,775.81, heating is baseboard heaters, electric. Always verify the latest figures with your agent before making an offer — these change yearly.
How is the home heated? Is it efficient?+
Heating is baseboard heaters, electric. Electric heating can mean higher winter bills — ask for past utility statements.
How is the space laid out across floors?+
This is a 2-storey single family. The 10 bedrooms and 5 bathrooms are typically split with living areas on the main floor and bedrooms above — confirm the exact layout during a showing.
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