550 College Avenue W Guelph, Ontario N1G 1T5

5 Bedroom 2 Bathroom 995
Bungalow Central Air Conditioning Forced Air


Given current home prices and interest rate levels, perhaps the best way to enter home ownership is to combine a place to live with an investment component. The upstairs of 550 College Ave. consists of 3 bedrooms, spacious living room and kitchen with solid Maple cabinets and a 4pc bath with soaker tub.. The kitchen has a walkout out to a deck where you can enjoy a large private fenced rear yard. This is an awesome place to live. The Investment component comes from the basement. I'm not talking about having your fingers crossed and hoping the market goes up. Hope is not an investment strategy. The two bedroom accessory apartment generates significant income. In todays market $ 1800.00 a month is the going rent. Taking advantage of high rental rates is prudent investment strategy. It's another income stream that can be used for any purpose you choose. Here's an example, if you have a 25 year mortgage and apply the full rental amount as an addition monthly payment to the mortgage, the mortgage is paid off in 15 years instead of 25 years. There are some other considerations for sure, but essentially you save $300,000 in mortgage interest dollars using other peoples money ( the tenants ). The entire property is in good repair and needs no capital expense. Terrific location on a direct bus route to the university. There are wonderful buying opportunities in todays market depending how you look at things. This is one of them. (id:49454)

Property Details

MLS® Number 40503607
Property Type Single Family
Amenities Near By Schools, Shopping
Community Features Quiet Area, School Bus
Features Country Residential
Parking Space Total 4


Bathroom Total 2
Bedrooms Above Ground 3
Bedrooms Below Ground 2
Bedrooms Total 5
Appliances Dishwasher, Dryer, Refrigerator, Stove
Architectural Style Bungalow
Basement Development Finished
Basement Type Full (finished)
Construction Style Attachment Detached
Cooling Type Central Air Conditioning
Exterior Finish Aluminum Siding, Brick, See Remarks
Fixture Ceiling Fans
Heating Fuel Natural Gas
Heating Type Forced Air
Stories Total 1
Size Interior 995
Type House
Utility Water Municipal Water


Access Type Highway Access
Acreage No
Land Amenities Schools, Shopping
Sewer Municipal Sewage System
Size Depth 122 Ft
Size Frontage 59 Ft
Size Total Text Under 1/2 Acre
Zoning Description R1b


Level Type Dimensions
Basement 4pc Bathroom Measurements not available
Basement Bedroom 11'9'' x 9'5''
Basement Bedroom 16'1'' x 13'1''
Basement Kitchen 12'2'' x 10'8''
Basement Recreation Room 15'3'' x 12'3''
Main Level 4pc Bathroom Measurements not available
Main Level Bedroom 10'0'' x 9'9''
Main Level Bedroom 12'2'' x 10'0''
Main Level Primary Bedroom 12'9'' x 9'11''
Main Level Dinette 8'3'' x 9'3''
Main Level Kitchen 10'3'' x 9'5''
Main Level Living Room 18'2'' x 12'6''