INVESTMENT OPPORTUNITY | LEGAL DUPLEX | ~5.0% CAP RATE | CASH FLOW POSITIVE. Welcome to 715 Gerard Street - a legal, income-producing duplex in the heart of Alfred and Plantagenet, offering the rare combination of strong cash flow, a built-in mortgage helper, and flexibility for both investors and future owner-occupants.This turnkey property features two self-contained units. The upper unit will be delivered vacant at closing, with an established market rent of $2,000/month - giving a buyer the choice to rent it out immediately or move in themselves and let the lower unit carry a significant share of the mortgage. The lower unit is home to an excellent, long-standing tenant paying $1,500/month, who is happy to stay on. With both tenants responsible for their own utilities (other than water) and estimated operating expenses of approximately $1,200/month, this property delivers an impressive cap rate of approximately 5.0% and positive cash flow from day one - a rare find in today's market. For the investor, it's a fully tenanted (or nearly so) income property with room to grow. For the owner-occupant, it's a mortgage buster: live upstairs, rent the lower unit, and enjoy monthly housing costs far below what you'd pay renting a comparable home outright. Upper Unit: 3 bedrooms, 1 bathroom, large eat-in kitchen, spacious living room, and a private yard. Lower Unit: 2 bedrooms, 1 bathroom, large kitchen, spacious living room, and its own private yard. Set on an oversized 94' x 94.62' lot with a carport, the property is centrally located in Alfred and Plantagenet, close to all local amenities, just 20 minutes to Rockland, and 45 minutes to Ottawa.Recent updates include: new roof (2021), new furnace and hot water tank, new flooring (2013), and new windows throughout (excluding the bay window and patio doors). (id:25961)
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Rooms
| Level | Type | Dimensions |
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Details
- Architectural Style: Bungalow
- Ownership: Freehold
- Parking Spaces: 4
- Transaction: For sale
Building
- Appliances: Dishwasher, Dryer, Two stoves, Two Washers, Two Refrigerators
- Architectural Style: Bungalow
- BasementType: N/A, N/A
- Basement Features: Separate entrance, Apartment in basement
- Bedrooms Main Level: 5
- Construction Style Attachment: Detached
- Cooling: None
- Exterior Finish: Brick, Stone
- Fireplace Present: False
- Foundation: Block
- Bathrooms (Total): 2
- Heating: Forced air
- Heating Fuel: Natural gas
- Size Interior: 1100 - 1500 sqft
- Stories Total: 1
- Type: House
- Utility Water: Municipal water
Land
- Sewer: Sanitary sewer
- Size Frontage: 94 ft
- Size Irregular: 94 x 94.6 FT
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This REALTOR.ca listing content is owned and licensed by REALTOR® members of the Canadian Real Estate Association. This property for sale is located at 715 GERARD STREET in Alfred and Plantagenet Ontario. It was last modified on September 25th, 2026. Contact the Nancy Wright Team to schedule a viewing or to discover other Alfred and Plantagenet properties for sale.