Turnkey Central Windsor Duplex With Cash-Flow Potential Under $400k
$399,900
-$368
📍 494 Church Street, Windsor, ON — Offered at an accessible $399,900, this two-unit multi-family property on Church Street offers investors a practical entry into Windsor's tight rental corridor. With separately configured units and strong tenant demand near the downtown core, it is positioned to deliver positive cash flow from day one.
Located at 494 Church Street in Windsor, this multi-family duplex configuration provides a solid footprint of over 1,100 square feet, divided into two distinct living suites featuring a total of 4 bedrooms and 2 bathrooms. The property is ideally positioned close to downtown amenities, public transit, and commercial corridors, ensuring consistent occupancy interest from working professionals and students alike. Suite/zoning status to be independently verified with the municipality.
From a financial standpoint, the asking price of $399,900 requires a 20% down payment of $79,980. At an interest rate of 5.5% amortized over 25 years, the monthly mortgage principal and interest payment works out to approximately $1,950. With property taxes estimated at $4,799 annually (~$400/mo) and an allocation of $350 monthly for insurance and maintenance reserves, total operating carrying costs sit near $2,700 per month. Based on prevailing local rental comps for 2-bedroom units in central Windsor, the property supports estimated market rents of $2,700/mo ($1,350 per suite), offering a balanced breakeven-to-positive operating baseline with significant upside as rents adjust over time.
Windsor's market fundamentals remain attractive for long-term multi-family investors. The region has posted a 59% five-year historical appreciation rate, and while recent 1-year appreciation has leveled out at approximately 1%, massive regional infrastructure investments—such as the Gordie Howe International Bridge and the NextStar Energy EV battery plant—continue to drive sustained job creation and long-term population growth.
The primary risks associated with this asset include potential capital expenditure updates common to older central Windsor homes, as well as Ontario's rent control framework under the Residential Tenancies Act. However, acquiring an existing multi-family building at a sub-$400,000 basis provides a high margin of safety and solid defensive fundamentals for income-seeking investors.
Our Take: Negative Cash Flow — Proceed with Caution
At -$368/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: $2,700/mo (market estimate)
- • Down payment: 20% of purchase price
- • Mortgage rate: 5.5% annually, 25-year amortization
- • Property tax: $4,799/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.
