490 Mill Street, Saugeen Shores, ON
Property Highlights
Welcome to this remarkable 2-Storey fourplex located in the coveted neighborhood of Saugeen Shores. Expertly crafted featuring premium brick construction, this residence presents an exceptional opportunity offered at $799,900 to acquire a beautiful home in a highly sought-after setting. Designed for both comfortable daily living and elegant entertaining, the layout maximizes natural light, functional flow, and lifestyle utility.
- 6 Bedrooms and 4 Bathrooms with 4 functional kitchens
- Generous living space spanning 3000-3500 sqft on a premium 66 x 132 ft lot
- Features a unfinished basement, adding superb versatility for recreation, a home gym, or extra storage
- 4.0 total parking spaces available
- Notable attributes: Separate Hydro Meter
- equipped with other central cooling and highly efficient forced air heating via gas
Description
Attention Investors! Seize a unique opportunity in Port Elgin with this fully tenanted fourplex nestled within a distinguished century home. This property features an ideal unit mix of two spacious two-bedroom units and two well-appointed one-bedroom units, providing a diversified income stream. Benefit from the convenience of on-site shared laundry and included parking for all tenants. Currently generating a $5000 per month, this property offers immediate cash flow. Adding significant value, both one-bedroom units have been recently renovated. The main floor units boast impressive 12-foot ceilings and the home's historic detailing shines through, including stunning original wooden pocket doors dividing the living and dining spaces. This home holds so much character - it could be beautifully restored to its former glory, all while capitalizing on consistent rental income. Don't miss out on this prime investment in a desirable location within our growing community!
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This could be the first listing for this address.
Pricing & Value Insights
Data-driven valuation for 490 Mill Street #1, #2, #3, #4, Saugeen Shores, ON N0H 2C0
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Properties in this area are selling at a steady pace.
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About Purchasing a Home in Saugeen Shores, ON
For a property listed at $799,900 in Saugeen Shores, the legal minimum down payment is $54,990 under current Canadian banking regulations. This calculation applies a 5% requirement on the first $500,000, 10% on the next $499,999, and a flat 20% on any amount exceeding $1,000,000.
Additionally, buyers in Ontario must budget for the Provincial Land Transfer Tax, which is estimated at $12,473 for this transaction. As this listing is in Saugeen Shores (outside the City of Toronto), no additional municipal land transfer tax is levied, resulting in total estimated land transfer taxes of $12,473.
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Disclaimer: AI Insights are generated by an automated system and should be used for informational purposes only. While we strive for accuracy using current market data and deep-learning models, these assessments do not constitute professional real estate, legal, or financial advice. All property values, predictions, and scores are estimates. We strongly recommend verifying all property details and conducting independent due diligence with a licensed professional before making any purchase decisions.