High-Yield Triplex Opportunity Near University of Windsor
$529,000
-$824
📍 326-330-332 Elm Avenue, Windsor, ON — This well-maintained triplex features three separately metered units and is located just steps from the University of Windsor. With one unit currently vacant, it offers an immediate opportunity for an owner-occupant or investor to set market rents.
This triplex on Elm Avenue presents a compelling investment opportunity in one of Windsor's most consistent rental corridors. The property consists of three units: Unit 326 (3-bed), Unit 330 (3-bed), and Unit 332 (3-bed). The building is equipped with separate hydro and gas meters for all units, significantly reducing landlord utility exposure and simplifying management. The property features a roof approximately 7-8 years old and recent interior updates in several units, including new luxury vinyl plank flooring and paint in 2024. With Unit 326 currently vacant, investors have the flexibility to perform easy showings or place a new tenant at current market rates. The other two units are currently generating a combined $3,050 per month. Based on a purchase price of $499,900 with 20% down ($99,980) at a 5.5% interest rate over a 25-year amortization, the monthly mortgage payment is approximately $2,450. When factoring in estimated annual property taxes of $5,999 and insurance/maintenance, the property offers a stable foundation for cash flow. Windsor has experienced a 59% appreciation over the last five years, though the market has stabilized with 1% growth in the last year. This property serves as a strong investment thesis for those targeting the student and faculty rental pool, given its proximity to the university and transit. Risks include the inherent volatility of student-heavy rental markets and the need for ongoing capital expenditure to maintain the building's mechanical systems. Suite/zoning status to be independently verified with the municipality.
Our Take: Negative Cash Flow — Proceed with Caution
At -$824/month, this property costs more to carry than it earns in rent under our assumptions. It may still work with better financing or higher rents — use our calculator to test your own numbers.
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: $3,050/mo (from listing)
- • Down payment: 20% of purchase price
- • Mortgage rate: 5.5% annually, 25-year amortization
- • Property tax: $5,999/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.
