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Doug Folsetter

doug@folsetter.com +1(905) 515-5494

$749,900

Est. payment - /mo

5 Beds

2 Baths

1,000 SqFt

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Key Details

Property Type Multi-Family

Sub Type Duplex Up/Down

Listing Status Active

Purchase Type For Sale

Square Footage 1,000 sqft

Price per Sqft $749

MLS Listing ID 40852669

Bedrooms 5

Abv Grd Liv Area 1,000

Year Built 1970

Annual Tax Amount $4,173

Property Sub-Type Duplex Up/Down

Source Cornerstone

Property Description

LIVE FOR FREE IN CAMBRIDGE! An exceptional opportunity for homeowners and investors alike. This beautifully renovated legal duplex offers the rare chance to significantly offset your mortgage-or potentially live for little to no cost-thanks to the strong rental income already in place. Situated on a generous 50-foot-wide lot in a desirable Cambridge neighbourhood, this property has been extensively updated from top to bottom. With major improvements already completed, including updated mechanicals, there is truly nothing left to do but move in and enjoy. The upper unit is currently leased to a wonderful family for $2,500 per month, providing immediate income from day one. The vacant lower-level legal apartment offers incredible flexibility: occupy it yourself while collecting rent from upstairs, or rent both units and maximize your return. Outside, you'll appreciate the newly widened driveway with parking for 5 to 6 vehicles, making it ideal for multi-generational living, tenants, guests, or hobbyists requiring extra parking. Whether you're a first-time buyer looking for mortgage assistance, a savvy investor seeking a turn-key income property, or someone wanting flexible living arrangements, this home checks all the boxes. Please note: Photos of the upper-level unit were taken prior to the current tenancy. The space is presently occupied by an excellent family who always pay their rent on time . Properties offering this level of renovation, flexibility, and income potential rarely become available. Don't miss your opportunity to own a turn-key property that works for you from the moment you take possession.

Location

Province ON

County Waterloo

Area 15 - Preston

Zoning R4

Direction Fountain ST North to Kitchener Road to Cyrus.

Rooms

Basement Separate Entrance, Full, Finished

Kitchen 0

Interior

Heating Forced Air, Natural Gas

Cooling Central Air

Fireplace No

Appliance Water Softener, Dishwasher, Dryer, Refrigerator, Stove, Washer

Laundry In-Suite

Exterior

Exterior Feature Privacy

Parking Features Asphalt

Roof Type Asphalt Shing

Lot Frontage 50.0

Lot Depth 101.0

Garage No

Building

Lot Description Rectangular, Highway Access, Park, Quiet Area, Shopping Nearby

Faces Fountain ST North to Kitchener Road to Cyrus.

Story 2

Foundation Poured Concrete

Sewer Sewer (Municipal)

Water Municipal

Level or Stories 2

Structure Type Brick

New Construction No

Others

Senior Community false

Tax ID 037690160

Ownership Freehold/None

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Listed by Keller Williams Home Group Realty, Brokerage

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Doug Folsetter

+1(905) 515-5494

Sales Representative License ID: 4729737

248 Cyrus ST Cambridge, ON N3H 1H3

Doug Folsetter

Key Details

Location

Rooms

Interior

Exterior

Building

Others

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248 Cyrus ST