WHY THIS PROPERTY STANDS OUT
Fully Renovated: Professionally redone from top to bottom, ensuring you attract
high-quality tenants and minimize future maintenance costs. Nearly everything is
NEW, meaning fewer headaches and more peace of mind.
Immediate Rental Income: Three out of four units are currently vacant, giving you
the flexibility to set market-rate rents right from the start. The third unit, the smaller
2-bedroom, is already rented at $1,900/month plus utilities (current market rate),
proving the income potential.
Versatile Layout: This 4plex offers diverse rental options. The composition includes
one 3-bedroom, two 2-bedrooms, and one bachelor unit. Plus, there’s parking for
four vehicles at the rear of the property.
91 Water St S, Cambridge
UNIT 3
scan to view online
Floorplan
UNIT 1
UNIT 2
UNIT 4
MORTGAGE DETAILS
Term
3 yr Fixed
Amortization
30
Annual Mortgage Rate
4.25%
Property Taxes
$3,750.00
MORTGAGE
Percent Down Payment
20% Down
Purchase Price Amount
$1,395,000.00
Deposit on Purchase
$25,000.00
Down Payment Required
$279,000.00
Total Mortgage Amount
$1,116,000.00
CLOSING COSTS
Deposit on Purchase (this will count towards your down payment)
$25,000.00
Total Down Payment Needed
$279,000.00
Legal Fees(approx.)
$2,500.00
Tax on Legal Fees
$325.00
Appraisal Fee
$500.00
Land Transfer Tax
$24,375.00
Adjustments on Closing With Lawyer - up to $1,000
$1000.00
Total Closing Costs (due 1 week before closing)
$307,700.00
HOUSEHOLD BUDGET
Monthly Mortgage Payment at 5%
-$5,465.80
Insurance
-$390.00
Utilities - hydro, gas and water paid by tenants
$0.00
Common area hydro
-$20.00
Maintenance
-$200.00
Monthly Property Taxes
-$312.50
Rental Income
$8,000.00
Total Monthly Cash Flow
$1610.70
Property Budget &
Cash Flow Analysis
Future Equity
(3% appreciation +
mortgage paydown)
Year 5
Year 10
Year 15
Property Value
$1,622,983.70
$1,881,482.93
$2,181,154.38
Mortgage Remaining
-$1,024,061.00
-$906,371.00
-$755,717.00
You'll Have
$598,922.70
$975,111.93
$1,425,437.38
Gordon Charles Springle
Real Estate Agent
Real Estate Homeward Brokerage
gordon@thespringleteam.com
647-699-6764
UPGRADES
OTHER PROPERTY FACTS
3D Virtual
Tour
INTERIOR
91-WATER-ST-S.COM
EXTERIOR
Fully internally renovated
New bathrooms
New kitchens
Brand new appliances, washer/dryer in each unit
All new 6.5mm luxury vinyl flooring; 22 mm wear layer
New heavy duty carpet on stairs in unit 2
New lighting fixtures
All new interior doors
Majority of walls reinsulated
All new electrical (2024)
All plumbing (2024)
New water heaters (2024)
9 new windows (2023)
2 new exterior doors (2023)
Furnace (2010) - connected to Ecobee thermostat
Electric baseboards (2024) - each baseboard controlled by
programmable thermostat
Sprinkler system in basement
5 new hydro meters; each of the four units has a meter, plus one
meter for the house
Each panel is 100 amps
All new eavestroughs (2023)
New soffits, fascia and siding on addition in the back (2023)
All soffits and fascia inspected and repaired (2023)
Roof front (1987) (metal shingles, 50 year warranty, transferrable)
rear addition metal roof (2019), Asphalt singles (2023)
Gravel on parking and around property with landscape fabric (2024)
Stairs and railing on deck; deck structurally sound and signed off by
engineer
4plex with a variety of
layouts
Parking for 4
5 min walk to Gaslight
District, as the Grand River
Pedestrian Bridge is across
the street
6 min walk to the
Cambridge Bus Terminal;
future final stop of ION
light rail
6 min drive from currently
under construction
Cambridge Recreation
Complex
City responsibility to clear
sidewalk of snow in front of
house