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Listed 11 days ago

46 College Crescent

Grove East, Barrie

$699,000

Detached|Backsplit 4
4 | 3 | 3
About this home

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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agent
Milad Momtaz Azad
(647) 510-8858
TypeDetached
StyleBacksplit 4
Approx. Age51-99
Size1500-2000 sq. ft.
Property Tax$4,391
Lot Size51.14 ft x 116.13 ft
mls© NumberS13760078
Listed ByRE/MAX HALLMARK PEGGY HILL GROUP REALTY

Listing History

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  • 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.

Down payment20% · $139,800
25-yr amortization

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 check

Investment Analysis

Estimated rent, cap rate and monthly cash flow for this property

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