104 Mill Street Russell, Ontario K4R 1B8

5 Bedroom 4 Bathroom
Central Air Conditioning Forced Air, Radiant Heat


This 13-yr-old home has two units, a full 3-bed, 3 bath house plus a legal 2-bed basement apartment. Among the highest earning dual-unit homes on market in recent memory. The main flagship unit is the perfect fit for a family. HOMEOWNERS: Income from basement unit pays for up to 82% of the mortgage; remaining payment is approx. $339. INVESTORS: Rents sum to $2890/mo, $35k/yr. Tenants pay all utilities. Your expenses are simply tax and insurance. Resulting net income is $29,412. At 1.85% over 30yrs the mortgage is $1,883 and cash flow is a stellar $600/mo. LONG-TERM: over 30yrs this property will carry itself plus cash flow $210k even without rent increases. At 5% appreciation/yr this property could be worth $2.8M when paid off in 30yrs. Thats 15x the avg. Canadians retirement savings. Russell has an extreme rental shortage with vacancy near zero. Modern build suggests low maintenance for foreseeable future. (id:42429)

Property Details

MLS® Number 1269193
Property Type Single Family
Neigbourhood Russell
Parking Space Total 3


Bathroom Total 4
Bedrooms Above Ground 3
Bedrooms Below Ground 2
Bedrooms Total 5
Appliances Refrigerator, Dryer, Hood Fan, Stove, Washer
Basement Development Finished
Basement Type Full (finished)
Constructed Date 2008
Construction Material Wood Frame
Construction Style Attachment Semi-detached
Cooling Type Central Air Conditioning
Exterior Finish Siding
Flooring Type Wall-to-wall Carpet, Laminate, Tile
Foundation Type Poured Concrete
Half Bath Total 1
Heating Fuel Natural Gas, Electric
Heating Type Forced Air, Radiant Heat
Stories Total 2
Type House
Utility Water Municipal Water


Attached Garage


Acreage No
Sewer Municipal Sewage System
Size Depth 99 Ft ,1 In
Size Frontage 28 Ft ,3 In
Size Irregular 0.06
Size Total 0.06 Ac
Size Total Text 0.06 Ac
Zoning Description R2


Level Type Dimensions
Lower Level Eating Area 8'9" x 7'5"
Lower Level Kitchen 9'16" x 7'8"
Lower Level Living Room 11'6" x 10'1"
Lower Level 4pc Bathroom 8'3" x 4'9"
Lower Level Bedroom 12'0" x 9'7"
Lower Level Bedroom 9'6" x 7'1"


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