$509,900
Est. payment $2,258/moCalculate yours
3-5 N Mary Street N, Smiths Falls, ON K7A 3R6
901 - Smiths Falls, Smiths Falls, ON K7A 3R6
- 7 Beds
- 4 Baths
- 2,500 Sq Ft
Listing courtesy of ROYAL LEPAGE PERFORMANCE REALTY MLS® X13874990
About this home
INVESTOR OPPORTUNITY! Income-producing two-unit property offering strong current rental income, substantial recent capital investment and future value-add potential. The two fully renovated units generate $4,375/month in current gross rent, or $52,500 annually, with 0% current vacancy/credit loss and a history of rents being paid on time or early. Improvements and repairs over the past 3-4 years, including fully renovated units, new appliances, replacement windows, newer furnaces, plumbing improvements, basement sump pumps and additional updates.The 4-bedroom, 1.5-bath unit at 3 Mary features a fenced backyard, parking, unfinished basement and furnace installed in 2024. The 3-bedroom, 1.5-bath unit at 5 Mary offers a large fenced backyard, generous driveway parking, unfinished basement and furnace installed in 2024. Tenants pay gas and hydro directly, while lawn/yard maintenance and snow removal are tenant responsibilities.The property offers approximately $52,500 in current annual gross rental income and a 10.50% gross rental yield based on the 2024 appraised value of $500,000. Potential future upside may include rental optimization, additional property improvements and investigation of severance/land-use potential, subject to municipal approvals and due diligence.An excellent opportunity for investors seeking an established income-producing property with significant recent improvements and potential for further value creation.
Property details
Overview
- Property Type
- Duplex
- Style
- 2-Storey
- For
- For Sale
- Status
- New
- Size
- 2,500 sqft
Interior
- Bedrooms
- 7
- Bathrooms
- 4
- Kitchens
- 2
- Basement
- Unfinished
Building & Systems
- Heating
- Forced Air (Gas)
- Cooling
- Window Unit(s)
- Exterior
- Metal/Steel Siding
- Foundation
- Stone
- Roof
- Asphalt Shingle
- Water
- Municipal
- Sewer
- Sewer
Lot & Parking
- Lot Size
- 66 x 132 Feet
- Parking
- None garage · 6 total
- Zoning
- R3
Financial
- Property Taxes
- $3,919 (2026)
Location
- Neighbourhood
- 901 - Smiths Falls
- Cross Street
- Main St E & William St E
- Direction Faces
- West
Listing
- MLS® Number
- X13874990
- Days on Market
- 10
- Listed On
- 2026-10-08
- Possession
- Tenanted
- Listed By
- ROYAL LEPAGE PERFORMANCE REALTY
Features
Interior
- Storage
Pool
- None
- Included
- 2 Refrigerators , 2 Stoves , 2 Washers , 2 Dryers ,
- Rental items
- Hot Water Tank on 3 Mary St.
Mortgage calculator
Estimated mortgage payment
$2,258 per month
- Principal and interest
- $2,258
- Property tax
- $327
- Condo fees
- $0
- Estimated monthly cost
- $2,584
Your mortgage
- Mortgage amount
- $407,920
- Mortgage insurance
- Not needed
- Interest over 25 years
- $269,398
Cash to close
- Down payment
- $101,980
- Land transfer tax
- $6,673
- First-time buyer refund
- $0
- Sales tax on insurance (8%)
- $0
- Total, before legal fees
- $108,653
With less than 20% down, a 30-year amortization is available to first-time buyers and buyers of newly built homes.
Talk to me about financingEstimates only, not a mortgage offer or financial advice. Uses the Canadian fixed-rate convention (interest compounded twice a year), 2026 mortgage insurance premiums and Ontario land transfer tax. Your lender will confirm your actual rate and payment.
Location
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