550 College Avenue W Guelph, Ontario N1G 1T5
$799,900
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 |
Building
| 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 |
Land
| 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 |
Rooms
| Level | Type | Length | Width | 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'' |
https://www.realtor.ca/real-estate/26228083/550-college-avenue-w-guelph
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November 22 2023 04:37:25
Guelph & District Association of REALTORS®
RE/MAX Real Estate Centre Inc Brokerage