7.5 NET CAP RATE | $78,000 GROSS ANNUAL INCOME | TURN-KEY DUPLEX. An exceptional investment opportunity offering a strong 7.5 net cap rate, this recently updated duplex generates $78,000 in annual gross rental income and is ideally located just steps from the downtown core and within easy walking distance to Queen's University. Each spacious unit features four bedrooms, large principal rooms, and in-suite laundry, creating a highly desirable rental offering in a proven student and professional rental location. The well-maintained property offers parking for three vehicles, with additional upside potential through the monetization of the parking spaces. New leases are in place through the end of April 2027(with the high possibility of both units renewing), providing investors with stable, secured income and immediate cash-flow potential. The current owners have enjoyed zero vacancy throughout their ownership, highlighting the property's strong tenant demand and desirable location. Additional recent improvements include a new roof installed in 2024. With a 7.5 NET CAP RATE, established rental income, secured tenancy, zero vacancy history, and further potential to increase revenue, this is a compelling turn-key investment opportunity for investors seeking strong, reliable cash flow. Unit 1 $3200/month plus tenants pay for utilities, Unit 2 $3300/month and tenants pay for utilities.
Address
380 Barrie Street
List Price
$929,000
MLS® Status
New
Property Type
Residential Freehold
Type of Dwelling
Duplex
Style of Home
2-Storey
Transaction Type
Sale
Area
Kingston
Sub-Area
22 - East of Sir John A. Blvd
Region
Frontenac
Bedrooms
8
Bedrooms (Total)
8
Rooms Above Grade
15
Bathrooms
4
Floor Area
2000-2500 Sq. Ft.
Lot Depth
74
Lot Size Units
Feet
Lot Width
34.3
Parcel Number
360500098
Occupant Type
Tenant
Cross Street
colborne
MLS® Number
X13681744
Listing Brokerage
SUTTON GROUP-MASTERS REALTY INC., BROKERAGE
Basement Area
Unfinished
Postal Code
K7K 3T4
Posession Details
TBD
Parking Places (Total)
3
Parking Spaces
3
Tax Amount
$5,731.41
Tax Year
2026
Interior Features
Carpet Free, Water Heater Owned
Central Vacuum
No
Family Room
No
Ensuite Laundry
No
Special Designation
Unknown
Standard Status
Active
Board Or Association
Kingston & Area Real Estate Association
Heat Source
Electric
Heat Type
Baseboard
Cooling Features
None
Construction Materials
Aluminum Siding
Direction Faces
West
Fireplace
No
Foundation Details
Stone
Garage
No
Garage Type
None
Kitchens Total
2
Kitchens Above Grade
2
Pool Features
None
Roof
Asphalt Shingle
Tax Legal Description
PT LT 405 ORIGINAL SURVEY KINGSTON CITY; PT LT 406 ORIGINAL SURVEY KINGSTON CITY AS IN FR645237; T/W FR645237; KINGSTON ; THE COUNTY OF FRONTENAC
Waterfront
No
Waterfront
None
Sewer
Sewer
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Rooms
| Floor | Type | Dimensions | Features |
|---|---|---|---|
| Ground | Bedroom | 2.64 x 3.84 | |
| Ground | Bedroom 2 | 2.62 x 3.3 | |
| Ground | Bedroom 3 | 4.42 x 2.62 | |
| Ground | Bedroom 4 | 3.91 x 2.64 | |
| Ground | Kitchen | 5.18 x 3.76 | |
| Ground | Living Room | 6.2 x 4.37 | |
| Second | Bedroom | 2.74 x 4.27 | |
| Second | Bedroom 2 | 2.74 x 3.96 | |
| Second | Bedroom 3 | 2.67 x 3.02 | |
| Second | Bedroom 4 | 2.95 x 3.02 | |
| Second | Kitchen | 4.32 x 3.35 | |
| Second | Living Room | 14.17 x 11.75 |