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10 - 242 PENETANGUISHENE ROAD, Barrie (Georgian Drive) — listed at $449,999. Earn buyer cashback at closing. No catches, just more money in your pocket.
**TURNKEY INVESTMENT OPPORTUNITY!** Welcome to 10-242 Penetanguishene Road. A unique and income producing townhouse offering an excellent opportunity for investors seeking strong rental income with tenants already in place. The property generates $3,300/month in gross rental income. This fully tenanted property offers immediate cash flow from day one. New washer and dryer were installed in 2023. At an asking price of $449,999, the property offers an approximate 9.9% gross rental yield with estimated known annual expenses of approximately $12,652 and an estimated NOI of approximately $26,948 before maintenance, vacancy and other potential operating expenses. Additional parking can be purchased from management for a monthly fee. Whether you're an experienced investor looking to add to your portfolio or searching for a property with multiple income streams, this is an opportunity worth exploring. (id:60164)
| Room | Level | Dimensions |
|---|---|---|
| Living room | Main level | 4.87 x 3.66 meters |
| Kitchen | Main level | 4.87 x 2.44 meters |
| Bedroom | Main level | 3.35 x 2.59 meters |
| Bedroom | Main level | 3.96 x 2.43 meters |
| Bedroom | Second level | 3.35 x 2.43 meters |
| Bedroom | Second level | 3.35 x 2.43 meters |
What do the condo/maintenance fees cover?+
The $428.76/mo fee covers: Common Area Maintenance, Insurance, Parking.
What are the ongoing costs beyond the mortgage?+
Budget for annual property taxes of $3,566.04, a condo/maintenance fee of $428.76/mo, heating is forced air, natural gas. Always verify the latest figures with your agent before making an offer — these change yearly.
How is the space laid out across floors?+
This is a 2-storey single family. The 4 bedrooms and 4 bathrooms are typically split with living areas on the main floor and bedrooms above — confirm the exact layout during a showing.
Does it have a basement, and is it finished?+
The listing describes the basement as: None. Confirm the finishing status during a showing — it affects both livable space and resale value.
How is the home heated? Is it efficient?+
Heating is forced air, natural gas. Gas heating is generally the most cost-efficient option in Ontario winters.
Is this a good starter home?+
At $449,999, this is priced in starter-home territory for Barrie (Georgian Drive). With multiple bedrooms, it has room to grow into. Factor in condo fees when calculating your true monthly cost.
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