48.5 Mitchell Street, St. Thomas, ON
Property no longer active
This property was sold on June 12, 2025. This listing is for reference purposes only. to view the sold price.
Property Highlights
Welcome to this remarkable 2 1/2 Storey fourplex located in the coveted neighborhood of St. Thomas. Expertly crafted featuring premium aluminum siding and brick construction, this residence presents an exceptional opportunity offered at $779,900 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.
- 7 Bedrooms and 4 Bathrooms with 4 functional kitchens
- Generous living space spanning 2000-2500 sqft on a premium 33 x 123.29 ft lot
- Features a finished basement, adding superb versatility for recreation, a home gym, or extra storage
- 4.0 total parking spaces available
- Notable attributes: None
- Efficient water heating via gas
Description
Attention Investors! Turnkey 4-Plex with POSITIVE CASH FLOW! This fully rented income-generating 4-plex in fast-growing St. Thomas is an exceptional opportunity for investors seeking strong returns. ANNUAL RENT INCOME FLOW: $71,520 and a Net Operating Income of $61,385, this property is already producing positive cash flow and requires minimal maintenance.The building features three recently updated 2-bedroom units and one 1-bedroom unit, each offering modern finishes and upgrades. The main-floor 2-bedroom unit has been refreshed with an updated kitchen, featuring new cabinet doors, countertops, sink, and faucet, along with an updated laundry area. New vinyl flooring extends through the eat-in kitchen and hallway, while the living room and bedrooms boast hardwood floors. The bathroom has also been upgraded, adding to the units appeal.The basement 2-bedroom unit has been updated with new vinyl flooring throughout, new laundry machines, and a modernized kitchen and bathroom, ensuring a comfortable living space for tenants. The upper-level 2-bedroom unit has undergone a complete renovation, including a brand-new kitchen with new cabinets, countertops, tiled backsplash, sink, faucet, and appliances. The bathroom has been fully modernized with a new vanity, faucet, and tiled shower, while new vinyl flooring extends throughout the unit. The 1-bedroom unit remains well-maintained and continues to attract stable tenancy.With 4-car parking and a prime location within walking distance of shops, restaurants, cafes, parks, trails, and schools, this property offers both convenience and long-term investment stability. St. Thomas is experiencing rapid growth, making this the perfect time to invest in a high-demand rental market. Don't miss out on this turnkey investment opportunity.
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Property Summary
This fourplex located at 48.5 Mitchell Street, St. Thomas is currently for sale and has been available on SousaSells for 494 days. This property is listed at $779,900 with an estimated mortgage of $2,596* per month. It has 7 beds, 4 bathrooms, and is 2000-2500 square feet. 48.5 Mitchell Street, St. Thomas is in the St. Thomas neighborhood.
* Estimated mortgage assumes a 30% down payment, 4.00% interest rate, and 30-year amortization.Key Features
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This could be the first listing for this address.
Pricing & Value Insights
Data-driven valuation for 48.5 Mitchell Street, St. Thomas, ON N5R 2T9
Based on 0 recent similar sales in the pocket.
Properties in this area are selling at a steady pace.
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About Purchasing a Home in St. Thomas, ON
For a property listed at $779,900 in St. Thomas, the legal minimum down payment is $52,990 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 $12,073 for this transaction. As this listing is in St. Thomas (outside the City of Toronto), no additional municipal land transfer tax is levied, resulting in total estimated land transfer taxes of $12,073.
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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.