767 Second Avenue

Introducing a remarkable investment opportunity: a Multi-Family Home for sale in Tay , located at 767 Second Avenue, Tay. This modern, purpose-built fourplex is just two years old and is fully leased, making it an attractive prospect for both seasoned investors and those new to the property market. Each of the four one-bedroom units generates a monthly income of £1,600, plus hydro, resulting in a total annual income of £76,800. This property is situated in a prime location, mere steps from the water and surrounded by scenic recreational trails, appealing to quality renters who seek both lifestyle and comfort.

The building, a two-storey multiplex, features a robust exterior clad in vinyl siding, ensuring both durability and aesthetic appeal. The property comprises a total of 12 rooms, including four well-appointed kitchens, which are a significant draw for potential tenants. Each unit comes with its own private 6x16 on-site storage locker, adding convenience and value to the living experience. As a Multi-Family Home for sale in Tay, this property offers an excellent opportunity for those looking to invest in a modern asset in a desirable area.

Located at 767 Second Avenue, Tay, this property is set on a generous lot measuring 39 x 120 feet, with additional land of less than 0.50 acres. The building is equipped with a private double driveway, providing ample parking space for up to eight vehicles. This feature is particularly advantageous in a community where parking can often be at a premium. However, it is worth noting that the property does not include a garage or central vacuum system, which may be considerations for some buyers.

The interior of the Multi-Family Home for sale in Tay is unfurnished, allowing new owners the flexibility to furnish the units according to their preferences or to leave them as is for the current tenants. The heating system is baseboard, providing efficient warmth during the colder months. Additionally, the property benefits from municipal water and sewer services, ensuring that essential utilities are readily available. While there is no air conditioning or fireplace, the property's location and modern design help maintain a comfortable living environment.

Yearly expenses for the property are reasonable, with insurance costing £3,200, taxes at £3,326, water and sewer fees amounting to £1,800, grass maintenance at £400, and snow removal expenses of £1,076. These costs contribute to the overall management of the property, ensuring that it remains an attractive investment. The Multi-Family Home for sale in Tay is designed for hassle-free ownership, allowing investors to enjoy steady rental income from day one.

Investors will appreciate the strong rental demand in the area, driven by the property's proximity to recreational activities and the natural beauty of the surrounding landscape. The community of Port McNicoll, where this property is located, offers a blend of tranquillity and accessibility, making it an ideal location for renters seeking a quality lifestyle. The strategic positioning of 767 Second Avenue, Tay, ensures that tenants have easy access to local amenities and attractions, further enhancing the appeal of this investment.

In conclusion, this Multi-Family Home for sale in Tay at 767 Second Avenue, Tay, presents a unique opportunity to acquire a modern, fully leased property in a sought-after location. With its impressive rental income potential, reasonable expenses, and attractive features, this fourplex is a sound investment choice. Whether you are a seasoned investor or just starting out, this property is sure to meet your needs and exceed your expectations. Don’t miss your chance to secure this exceptional asset in the thriving community of Tay.

Port McNicoll, nestled within the charming municipality of Tay, is a picturesque lakeside community that offers a unique blend of natural beauty and small-town charm. Situated on the shores of Lake Huron, it boasts stunning waterfront views and a rich maritime history, once serving as a bustling port for the Great Lakes shipping industry. The area is characterised by its tranquil environment, with lush green spaces, scenic trails, and a close-knit atmosphere that fosters a sense of belonging. Residents enjoy a relaxed lifestyle, with opportunities for outdoor activities such as boating, fishing, and hiking, all while being conveniently located near larger urban centres for additional amenities. Port McNicoll is an ideal place for those seeking a peaceful retreat with a strong connection to nature and community spirit.

Schools in the Neighbourhood

This property is conveniently located near two educational institutions, catering to families with young children. The closest option is Tay Shores Public School, situated just 2.8 km away. This elementary school, governed by the Simcoe County District School Board, offers grades from Junior Kindergarten to Grade 8, with instruction primarily in English. It has a school rating of 2.5, indicating a moderate level of performance. Additionally, St. Antoine Daniel Catholic School is located 3.4 km from the property. This Catholic school, overseen by the Simcoe Muskoka Catholic District School Board, also serves students from Junior Kindergarten to Grade 8, but currently holds a school rating of 0, which may raise concerns for some parents. Both schools provide English language instruction, making them suitable for families looking for a supportive educational environment. Overall, the proximity to these schools can be a significant advantage for families prioritizing education in their home search.

Key Statistics of the Neighbourhood

The demographic profile of the area surrounding the property reveals a small population of 441 residents, with an average household size of 2.3 individuals. The community has a median age of 42.1 years, indicating a mature population. The average household income stands at $63,600, with 15.6% of residents classified as low-income. The real estate market reflects an average property price of $400,000, appealing to a diverse range of buyers. Notably, 44.74% of the population is single, while 30.77% of households include children, suggesting a family-friendly environment. The area has a modest percentage of immigrants at 4.65%, and 20.51% of residents are renters, indicating a stable ownership trend. Interestingly, there are no condominiums in the vicinity, which may influence housing options. Educational attainment is relatively high, with 35.06% of residents holding a college or university degree. However, a significant portion of the population, 44.16%, is not in the labor force, which could impact economic activity in the area. Overall, this community presents a blend of demographics that may appeal to potential homeowners and investors alike.