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56 Leger Avenue, St. Thomas, ON

Name: 56 Leger Avenue, For Sale in St. Thomas - eXp Realty
Brand: PRIME REAL ESTATE BROKERAGE
SKU: X13076554
Price: 609900 CAD

House

For Sale

$--,---,---

525

MLS® X13076554

Key Facts
Description
Map

Key Facts

Type Duplex

Levels Residential

Size -

Garage None

Taxes $3,668

Days Active 0

Lot Size

Approx. Age

MLS® Number X13076554

Property Address: 56 Leger Avenue, St Thomas, ON, N5R5P7

Average square foot calculated using Size range provided by listing agent.

Description

A prime opportunity to own a turnkey, cash-flowing duplex on the south edge of St. Thomas - fully renovated, professionally positioned, and generating immediate income from day one. Configured as a 3-bedroom upper unit and a 2-bedroom lower unit, both units have been completely updated in 2024, delivering a true "plug-and-play" investment. Interior improvements include brand new kitchens with quartz countertops, updated cabinetry, subway tile backsplashes, refreshed bathrooms, new flooring throughout, and in-suite laundry in both units - a level of finish that not only attracts quality tenants, but helps support long-term rent stability. From a numbers standpoint, the property is currently producing $3, 790/month in gross rental income, with a clear path to $3, 990/month based on achievable market rents. After accounting for approximately $1, 044/month in operating expenses, this results in a net operating income of ~$2, 745/month ($32, 951 annually) on current rents, and ~$2, 945/month ($35, 351 annually) at market rents. At the current list price, this translates to a 5.9% cap rate based on actual income, with the ability to push into the 6.3% range as rents are optimized - offering both immediate return and built-in upside. Operationally, the property is well thought out. Each unit benefits from its own dedicated heating and cooling system, helping reduce tenant overlap and simplifying expense management - with the upper unit serviced by a forced air furnace and central A/C, and the lower unit equipped with heat pumps (with integrated AC) and baseboard as backup. Combined with separate hydro meters and parking for up to 5 vehicles, this is a low-friction asset from a management standpoint. Location plays a key role here as well. Positioned on the south edge of St. Thomas, tenants have access to a wide range of schools, parks, walking trails, and everyday amenities - a consistently desirable area that supports tenant demand and long-term occupancy.Show Description

MLS® NumberX13076554

Laundry Level

Central VacNo

FireplaceNo

Acreage

Exterior

GarageNone

Approx. Age

BasementFull, Finished

DrivewayGarage Type:None

Garage Spaces

Heat

A/C

Heating Fuel

Extras

Price History

00/00/0000End Date

$XXX,XXXSold Price

Top Secret

00/00/0000List Date

$XXX,XXXList Price

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Home Appraisal

This property is estimated to sell between: $609,000 and $620,000.

Similar properties in this area sold on average for: $616,486

Expected to sell in 26 days. Similar properties sold in 26 days. This home has been on eXp Realty for 0 days.

The estimated sale price does not take into account many variables such as recent renovations, type of appliances, school district etc. To get a more accurate estimate please contact agent.

Commute

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Starting Address

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