High-Yield 5-Unit Multi-Family Opportunity in Sudbury
$380,000
$942
📍 454 MELVIN AVENUE, SUDBURY, ON P3C 4X4 — This 5-unit building offers a rare opportunity to acquire a high-density asset with two vacant units ready for immediate occupancy. Ideally located near public transit and downtown amenities, it is a prime candidate for investors seeking to maximize rental income.
The property at 454 Melvin Avenue is a 5-unit residential income building featuring a mix of two 1-bedroom units, one 2-bedroom unit, and two bachelor units. The building is constructed of brick and stucco with a full basement and is currently serviced by a boiler heating system. With two units currently vacant, this property provides an immediate opportunity for an investor to renovate or lease at current market rates, significantly improving the building's net operating income. Suite/zoning status to be independently verified with the municipality. Based on a 20% down payment of $76,000 at a 5.5% interest rate over a 25-year amortization, the monthly mortgage payment is approximately $1,855. With estimated annual property taxes of $4,560 (calculated at 1.2% of the purchase price) and estimated monthly operating expenses, this property offers strong cash flow potential. We estimate a conservative gross monthly rental income of $4,200 based on current market demand for multi-family units in Sudbury. Sudbury has seen a 63% appreciation over the last five years and a 7% increase in the last year, reflecting a robust and growing market. This property serves as a strong investment thesis for those looking to capitalize on the city's high demand for affordable rental housing. The primary risks include the age of the building, which may require ongoing capital expenditures for the boiler and general maintenance, as well as the inherent risks of managing a multi-unit property. Investors should conduct thorough due diligence on the current condition of the vacant units and verify all zoning and fire code compliance.
Our Take: Strong Deal But Caution Needed on Zoning Status
This property generates $942/month in positive cash flow after all estimated expenses. That's a meaningful return on your down payment. Caution needed to investigate zoning and true rental income.
Run Your Own Numbers
These figures use standard assumptions. Your actual results depend on your financing, local rates, and management costs. Use our free calculator to model this exact deal with your own inputs.
Calculation Assumptions
- • Monthly rent: $4,200/mo (market estimate)
- • Down payment: 20% of purchase price
- • Mortgage rate: 5.5% annually, 25-year amortization
- • Property tax: $4,560/year (~1.2% estimate)
- • Property management: 8% of monthly rent
- • Maintenance: 2.5% of monthly rent
- • Insurance: 5% of annual rent
- • Repairs: $150/month
- • Vacancy: 5% of monthly rent
- • Closing costs: ~3% of purchase price (not included in cash flow)
🤖 AI-Generated Content: This market spotlight was researched and written by an AI using live web data. Property details, rental figures, and financial calculations may not be exact and could contain errors or inaccuracies.
⚠️ All listing details, rental estimates, suite/zoning status, and financial calculations must be independently verified before making any investment decision. This content is for educational purposes only and does not constitute investment advice. Always consult a qualified real estate professional, mortgage broker, and financial advisor.
