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Investment signal

$1,299,999

1028 JOHNSON STREET

Beds

Baths

Sqft

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About this home

Well-located corner 5-plex in central Kingston offering reliable rental income with clear upside potential. Currently generating roughly $84,000 annually including laundry and parking income, with an estimated NOI around $64,000, representing a sub-5% cap rate (approximate). The property features five similar 2-bedroom units, each with a 4-piece bath, with three already updated and two offering future upside through improvements and rent growth. Situated on a corner lot with plenty of on-site parking, adding convenience for tenants and additional income potential. The building is well set up with separately metered hydro, 400 amp service, updated windows, radiant on-demand heating, owned hot water systems, and a roof replaced in 2015. Close to Queen's University and St. Lawrence College, with easy access to transit and everyday amenities, supporting consistent rental demand and long-term growth. (id:65958)

Subtype: Multi-family
Structure: Other
Community: 18 - Central City West
Lot dimensions: 100 x 82 FT
Bedrooms: 10 above grade, 0 below grade
Parking: 10 total
Stories: 2
On market: Apr 15, 2026
Status changed: Apr 19, 2026
Annual tax: $7,293 (2025)
Zoning: A2
Photos: 39
MLS#: X13002212
Area: KINGSTON_(CENTRAL_CITY_WEST)

Features and systems

Parking

No Garage

Basement

Apartment in basementN/A

Appliances

Water Heater - TanklessWater Heater

Heating

Radiant heatNatural gas

Cooling

None

Exterior

Brick

Foundation

Block

Negative cash flow ~$2,506/mo at these assumptions

Monthly rent (CAD)Adjust to your local market estimateDown payment (%)Investment props typically 20-25%Mortgage rate (% annual)2026 default 5.49% — adjust to your rate holdAmortization (years)

Cash on cash

-11.57%

Cap rate

3.58%

GRM

16.7

Break-even rent

$9,138

Financing

Down payment$260,000

Loan amount$1,039,999

Mortgage$6,380/mo

Operating expenses (monthly)

Property tax(est. 0.55%/yr (AB avg))$596

Insurance$80

Maintenance$1,083

CapEx reserve$542

Vacancy loss$325

Estimates only. Actual cash flow depends on financing terms, condition reports, current market rents, property tax assessment, condo fees, and tenant quality. Defaults: 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.

Lifestyle nearby

Nearby school, halal, mosque, grocery, park, and transit layers are still being built for Kingston (Central City West). The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.

Mortgage estimate

Estimated $6,380/mo at 5.49% with 20% down, 25-yr amortization.Estimate only — actual payment varies by qualification + insurance.

Listing brokerage

Listing brokerage on file

Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Apr 19, 2026.