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204-206 Main STREET
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Limerick · Single Family · under $125,000 · 1+ bed · 1+ bath. Alerts only send when there are new or meaningfully updated matching homes.
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Excellent investment opportunity on Main Street in Limerick. This well-designed bungalow-style duplex was built in 1985 and offers a simple, solid, and easy-to-manage rental property with both sides currently rented. Properties like this are hard to find, especially at a price point that still makes sense from an income perspective. Each side offers a practical bungalow layout, making the property appealing to a wide range of tenants. The building has been well cared for and presents as clean, neat, and functional throughout. Central air adds comfort, and the overall design makes day-to-day ownership straightforward and low-maintenance. The property also features plenty of parking, which is always a major plus for tenants, along with a nice backyard area that includes a firepit space and garden area. It gives the property a comfortable, home-like feel rather than just being another rental. With great tenants already in place, strong income potential, and a solid 1985 build, this is the kind of investment that makes sense for both new and experienced landlords. If you are looking for a manageable income property that is already operating and producing, this Main Street duplex is well worth a serious look. Investments like this are about as easy as it gets. Don’t wait. (id:65958)
Main level
| Room | Dimensions | Features |
|---|---|---|
| Kitchen | 8'2 x 8'10 | |
| Living room | 10'11 x 17'7 | |
| Bedroom | 8'9 x 11'10 | |
| 4pc Bathroom | 4'11 x 7'9 | |
| Laundry room | 3'11 x 9'4 | |
| Kitchen | 8'10 x 9'5 | |
| Living room | 8'8 x 17'7 | |
| Bedroom | 8'9 x 11'10 | |
| 4pc Bathroom | 4'11 x 7'10 | |
| Laundry room | 3'11 x 9'4 |
10-item due-diligence checklist. We can pre-flight most of these for you on a CMA call.
Comparable sales
Ask for 3–5 recent solds within ~1 km and the same beds/baths so the list price has context.
Property condition
Roof age, furnace age, hot-water tank age, electrical panel size, windows. Cosmetic vs structural.
Zoning
Confirm zoning matches your intent (single-family vs duplex vs secondary suite vs commercial).
Suite legality / potential
If suited or being marketed as suited: confirm permits, separate entrance, ceiling height, egress windows.
Monthly carrying cost
Mortgage + property tax + insurance + condo fee (if any) + utilities. Compare to your max budget.
Property taxes
Confirm the annual tax amount on the current assessment — and whether a reassessment is pending.
Insurance estimate
Get a same-day quote. Older homes, knob-and-tube wiring, polybutylene plumbing, flood plains all change the number.
Commute
Drive it (or transit it) at the actual time of day you'd commute. Map ETA lies during peak hours.
Deposit and financing conditions
Deposit size, financing condition window, condition removal date, possession date — all negotiable.
Inspection considerations
Budget for a home inspector ($500–700) and any specialty inspections (sewer scope, mould, asbestos for pre-1990 builds).
Cash on cash
60.38%
Cap rate
16.94%
GRM
4.8
Break-even rent
$745
Financing
Operating expenses (monthly)
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Approximation only. Actual cash flow depends on financing terms, condition reports, current market rents, property tax assessment, condo fees, and tenant quality. Defaults: 4.5% rate, 30-year amortization, 5% vacancy, 1%/yr maintenance, 0.5%/yr CapEx reserve, $80/mo insurance. Property tax estimated at 0.55%/yr where not provided. Talk to a mortgage broker before relying on these numbers.
Pick a down payment and tap any underlined number to edit. Total updates live. Confirm with a mortgage broker before writing an offer.
Monthly carrying costs (shared)
Approximation only. CMHC default insurance is included when down payment is under 20%. Property tax and condo fees come from MLS when listed and may not reflect the current billing year. Accelerated bi-weekly frequency reduces total interest paid vs. monthly — confirm with a broker. Suite rental income depends on permits, market rent, and vacancy. Always validate with a mortgage broker before writing an offer.
We'll reply by text within a few hours. Comparable sales, condition flags, things worth checking — sent before you book a showing.
Listing brokerage
Listing brokerage on file
Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Jul 8, 2026.
Location of this listing. Distances are straight-line.
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