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$ 559,000
Est. payment /mo
New
378 Barrie ST Kingston, ON K7K 3T4
5 Beds
2 Baths
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Semi-Detached
Listing Status Active
Purchase Type For Sale
Approx. Sqft 1100-1500
Subdivision 22 - East Of Sir John A. Blvd
MLS Listing ID X13736054
Style 2-Storey
Bedrooms 5
Annual Tax Amount $3,477
Tax Year 2026
Property Sub-Type Semi-Detached
Property Description
6.8% Net Cap Rate with Additional Income Upside. An exceptional turnkey investment opportunity with $43,200 in annual gross rental income and a 6.8% net cap rate, with further potential to increase revenue. The property is currently rented as a 4-bedroom student rental at $3,600 per month plus tenants pay utilities, with a lease in place until the end of April 2027 with the high possibility of these tenants renewing their leases. Located within walking distance of downtown Kingston and Queen's University, this property benefits from a highly desirable location and consistent demand for student housing. The property has been well maintained and consistently occupied, offering investors immediate income while providing clear upside potential. With the existing four-bedroom configuration generating a 6.8% net cap rate, the opportunity to add rental income through the currently unused bedroom, potential dining-room conversion, and parking space creates the potential for an even stronger return over time. There is meaningful opportunity to increase the property's income beyond the current $43,200 annual rent. The home includes a fifth, smaller bedroom on the second floor that is not currently being rented, along with the potential to convert the existing dining room into an additional bedroom. There is also one dedicated parking space that could potentially be monetized separately. These opportunities provide investors with several avenues to enhance future rental income with relatively modest improvements. Laundry is located in the lower level full height basement.
Location
State ON
County Frontenac
Area Frontenac
Rooms
Family Room No
Basement Unfinished
Kitchen 1
Interior
Interior Features Carpet Free, Water Heater Owned
Cooling None
Fireplace No
Heat Source Gas
Exterior
Pool None
Waterfront Description None
Roof Type Asphalt Shingle
Lot Frontage 16.7
Lot Depth 74.0
Total Parking Spaces 1
Building
Foundation Stone
Others
ParcelsYN No
Listed by SUTTON GROUP-MASTERS REALTY INC., BROKERAGE