Turnkey North Central Duplex with Strong Cash Flow
$438,888
-$2
📍 632 Union Street, Peterborough, ON K9H 3V5 — This well-maintained duplex in Peterborough's North Central neighborhood features two self-contained 2-bedroom units with separate hydro meters. With projected rents of $3,450/mo and recent capital improvements, it offers a stable, low-maintenance investment opportunity.
This property at 632 Union Street is a prime example of a turnkey investment in the Peterborough market. The building is configured as a duplex with two fully self-contained 2-bedroom units, each with private entrances and separate hydro meters. The property has benefited from significant recent capital expenditures, including a new roof installed in 2025, which reduces immediate maintenance risk for the incoming investor. The inclusion of a detached double-car garage and a large driveway for 4+ vehicles adds significant value, offering potential for additional storage income or tenant utility. With current tenants willing to stay, the property provides immediate, stable cash flow. Based on the listed projected rents of $3,450/mo, the gross annual income is $41,400. Assuming a 20% down payment ($87,778) at a 5.5% interest rate over a 25-year amortization, the monthly mortgage payment is approximately $2,145. After accounting for estimated property taxes of $5,267 annually and typical operating expenses, the property demonstrates strong potential for positive cash flow. Peterborough has experienced a 52% appreciation over the last five years and a 3% increase in the last year, signaling a resilient market. This investment thesis is built on the property's turnkey condition, separate utility metering, and its strategic location near Trent University and Fleming College, which ensures consistent rental demand. Investors should note that while the property is described as a duplex, suite and zoning status should be independently verified with the municipality to ensure full compliance with local bylaws.
Our Take: Negative Cash Flow — Proceed with Caution
At -$2/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: $3,450/mo (from listing)
- • Down payment: 20% of purchase price
- • Mortgage rate: 5.5% annually, 25-year amortization
- • Property tax: $5,267/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.
