181 Preston Street, Timmins, ON
Property Highlights
Welcome to this remarkable 2-Storey fourplex located in the coveted neighborhood of TS - SW. Expertly crafted featuring premium stucco (plaster) construction, this residence presents an exceptional opportunity offered at $399,900 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 5 Bathrooms with 4 functional kitchens
- Generous living space spanning 2000-2500 sqft on a premium 52.89 x 80.87 ft lot
- Features a finished basement, adding superb versatility for recreation, a home gym, or extra storage
- 6.0 total parking spaces available
- Notable attributes: None
- equipped with central air central cooling and highly efficient forced air heating via gas
Description
This legal four-plex is located in a strong, desirable neighborhood extremely close to the newly constructed Francophone Health Centre, making it an ideal long-term investment with stable tenant demand. The property is fully income producing and offers a solid revenue stream with excellent upside. The building consists of four self-contained units with a strong rental mix. The current rental income totals $4,850 per month or $58,200 annually. The main unit at 181 Preston rents for $2,000 per month plus utilities. Unit A at 147 Middleton rents for $850 per month plus utilities. Unit C at 147 Middleton rents for $880 per month with the owner paying hydro. Unit D at 147 Middleton rents for $1,120 per month plus hydro. Operating costs are well managed. Water and sewer are approximately $4,824 annually, property taxes are $5,592 per year, Reliance hot water rental is $759.24 per year, insurance is $2,959.20 annually, and hydro for one unit is approximately $1,260 per year, for total operating expenses of $16,654.44 annually. This produces a net operating income of approximately $41,545.56 per year. Based on an asking price of $399,900, the property delivers an approximate 10.4% cap rate, making this an exceptionally strong cash-flowing investment. This is a rare opportunity to acquire a legal four-plex in a prime location with proven income, excellent tenant demand, and outstanding investment fundamentals. MPAC 324, Total Sq.Footage 2200, Hydro Tenants, Heat $1140 /12mths, Water-Sewer $4356 / year.
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Pricing & Value Insights
Data-driven valuation for 181 Preston Street, Timmins, ON P4N 3N4
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About Purchasing a Home in Timmins, ON
For a property listed at $399,900 in Timmins, the legal minimum down payment is $19,995 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 $4,474 for this transaction. As this listing is in Timmins (outside the City of Toronto), no additional municipal land transfer tax is levied, resulting in total estimated land transfer taxes of $4,474.
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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.