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Grove East, Barrie
$699,000
A BACKSPLIT WITH MULTI-GENERATIONAL POTENTIAL & A PERMIT FOR A PROPOSED DUPLEX CONVERSION! Maybe you need more room for your family. Maybe a house with in-law capability is part of the plan. Maybe the duplex conversion opportunity is what gets your attention. Whatever brings you through the door, this detached backsplit gives you 5 bedrooms, multiple living areas and a floor plan that can work in more than one way. The ground level features a kitchen with ample cabinetry and a tiled backsplash, along with both a family room and separate living room with a fireplace. A bedroom and powder room complete this level, while three more bedrooms and a full bathroom are grouped on the upper level. The finished basement adds a fifth bedroom and another full bathroom, giving extended family, older kids or overnight guests valuable separation. The City of Barrie has issued a building permit for the proposed residential duplex conversion, with approved conversion drawings already in place and a permit that may be transferable to a future owner with City approval, reducing the preliminary work for a buyer looking to advance the property's income potential. An interlock walkway leads to the front door, with an attached single-car garage and space for two more vehicles in the driveway, while the fully fenced backyard adds a deck, lawn, mature landscaping and garden shed. Georgian College and RVH are only minutes away, with quick access to Highway 400, shopping and restaurants.
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| Type | Detached |
| Style | Backsplit 4 |
| Approx. Age | 51-99 |
| Size | 1500-2000 sq. ft. |
| Property Tax | $4,391 |
| Lot Size | 51.14 ft x 116.13 ft |
| mls© Number | S13760078 |
| Listed By | RE/MAX HALLMARK PEGGY HILL GROUP REALTY |
Listing History
- No recent sale history for this listing.
- No recent lease history for this listing.
Could you afford this home?
What the bank counts
This home's actual carrying costs, payment stress-tested at 6%
- Mortgage, tested at 6%
- $3,578
- Property tax
- $366
- Heat allowance
- $150
- Housing costs
- $4,094 / mo
Lenders cap these at 39% of gross income — that sets the number.
Income needed
$126,000
gross annual household income
- Payment at 4%
- $2,942 / mo
- Cash down
- $139,800
Assumes no other monthly debts · 25-yr amortization
Full affordability checkInvestment Analysis
Estimated rent, cap rate and monthly cash flow for this property
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