32 Wallace TER

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$209,900

32 Wallace TER

Sault Ste. Marie · MLS® SM262650

1,100 sq ft · House · Multi-family · built 1930 · 31 days on market

listed by Tyler Burzese, Exit Realty True North

realtor's description

Excellent investment opportunity at 32 Wallace Terrace! This fully tenanted duplex offers an impressive 11.39% cap rate, with additional income potential through the creation of a third unit. Legally zoned for a triplex, the property currently features one two-bedroom unit and one one-bedroom unit, while the upper level is ready to be renovated into an additional unit. Most of the materials required to complete the renovation are included with the sale. Tenants pay their own PUC utilities, helping to keep operating costs low. Additional highlights include a durable metal roof and a garage offering valuable storage space. A fantastic opportunity for investors looking for immediate rental income with room to grow!

property details

type: House, Multi-family
living area: 1,100 sq ft
parking: 0
year built: 1930
property tax: $2,552 / yr
days on market: 31
MLS®: SM262650

features

Bus Route

monthly cost

$1,127/mo

Mortgage $915 · Tax $213

20% down at 4.34% fixed (Ratehub.ca), 25 years; tax from the listing.

estimated payment

$915/ monthly

loan $167,920

25-year amortization

down payment20% · $41,98020%+ down: no mortgage insuranceinterest rate4.34%Rates from Ratehub.ca (best 5-year fixed and variable), checked Oct 25, 2026. Semi-annual compounding; your lender's rate may differ.amortizationpayment frequency

total interest: $106,434
cash to close: $41,980; down payment; transfer tax and fees not included
total paid: $274,354

Estimates only. Rates change daily and lenders qualify at the stress-test rate. Talk to a mortgage broker before you offer.