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48 Main Street
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Manor · Single Family · under $325,000 · 4+ bed · 3+ bath. Alerts only send when there are new or meaningfully updated matching homes.
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Revenue Property in Manor – Motivated Seller! This is a fantastic opportunity to own a fully rented, income-generating property in the quiet community of Manor. Featuring four separate self-contained suites, this renovated building is currently generating between $3,650–$3,850 per month in rental income. Ideal for anyone looking to live in one unit and rent out the rest to offset the mortgage, or for an investor ready to take over a fully operational rental property. The building offers approximately 3,000 sq ft over two levels (to be verified), including three 1-bedroom suites on the main floor and a spacious 2-bedroom suite on the second floor. Extensive renovations and upgrades have been completed, including a new metal roof, exterior paint on the building and decks, interior wall additions, insulation of exterior walls, upgraded wiring, and a newer high-efficiency gas furnace installed six years ago. Each suite has its own 40-gallon hot water tank and is heated by a combination of forced air gas and electric baseboard heat. The second-floor suite has a private rear entrance with heavy-duty stained and painted staircase and decking, vaulted ceilings, cozy interior décor, two bedrooms, a 3-piece bath with in-suite laundry, a large kitchen/dining area, and a bright living space with south-facing windows for great natural light. On the main floor, the two south-facing 1-bedroom suites feature private decks and come fully furnished with queen beds, tables and chairs, and 42" wall-mounted TVs. The third main floor unit on the north side is also a fully furnished 1-bedroom suite. The older section of the main building has a solid stone foundation, and the property overall has been well maintained by the current owner. Whether you're looking for a personal residence with added rental income or seeking a solid investment property, this one delivers steady cash flow and strong potential. All units are currently rented, income ranging between $3,650–$3,850 monthly. (id:65958)
Main level
| Room | Dimensions | Features |
|---|---|---|
| Bedroom | 10'5 x 18' | |
| Living room | 12'10 x 10'10 | |
| Kitchen/Dining room | 11'9 x 18' | |
| 4pc Bathroom | 8'11 x 6'9 | |
| Foyer | 5'7 x 7'8 | |
| Bedroom | 14'11 x 10'6 | |
| Kitchen/Dining room | 9'3 x 9'10 | |
| 3pc Bathroom | 5'3 x 8'4 | |
| Foyer | 6'11 x 3'4 | |
| Kitchen | 11'1 x 11' | |
| Storage | 11'3 x 4' | |
| Bedroom | 9' x 7' | |
| Living room | 10'3 x 8'1 | |
| 3pc Bathroom | 7'6 x 6' |
Second level
| Room | Dimensions | Features |
|---|---|---|
| Kitchen | — | |
| Bedroom | — | |
| Laundry room | — | |
| Bedroom | — | |
| Den | — | |
| 3pc Bathroom | — |
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
29.74%
Cap rate
10.81%
GRM
7.2
Break-even rent
$1,813
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 Apr 3, 2026.
Location of this listing. Distances are straight-line.
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Buyer-fit signals
Derived from listing data and nearby-amenity proximity. Verify anything that matters to your decision — distances are approximate.