170 MAIN ST Erin
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- Listed Since: February 24th 2020
Amazing Investment Opportunity! This Is The Perfect Opportunity For Investors. Brand New Property Built In 2017 In Downtown Erin. Zoned For Mixed Use. Positive Cashflow (Pro-Forma Attached). This Is A Multi-Use Building With 2 Residential Units And Commercial/Retail Units. Separate Entrances With 3 Separate Metres. Main Level Features 2-Bed, 2-Bath Apartment And Retail Space. 2nd Level Features 4-Bed, 2-Bath Apartment. Commercial/Retail Space On Lower Level.**** EXTRAS **** Floor Plans Attached. Brand New/Modern Custom Kitchens, Baths, Hardwood. No Expense Was Spared. 2 Furnaces, New Septic, Everything Built To Code. Finished Living Space: 5,324 Sq.Ft, Above Ground: 3,933 Sq.Ft, Below Ground: 1,391 Sq.Ft (id:23309)
- Address: 170 MAIN ST
- Location: ERIN
- Ownership: FREEHOLD
- MLS: X4700174
|Other||Lower level||4.2 m x 3.3 m|
|Other||Lower level||3.5 m x 3.3 m|
|Other||Lower level||15.2 m x 4.4 m|
|Master bedroom||Main level||3.5 m x 5.7 m|
|Office||Main level||5.7 m x 4.1 m|
|Office||Main level||2.2 m x 4.1 m|
|Living room||Main level||4.3 m x 7.4 m|
|Kitchen||Main level||4.3 m x 4.2 m|
|Kitchen||Second level||3.4 m x 4.2 m|
|Dining room||Second level||4.6 m x 4.5 m|
|Living room||Second level||8 m x 5.3 m|
|Master bedroom||Second level||4 m x 4.5 m|
Monthly Mortgage Payments
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- Down Payment
The amount of money you pay up front to obtain a mortgage. The minimum down payment is 5% and for down payments of less than 20%, home buyers are required to purchase mortgage default insurance, commonly referred to as CMHC insurance.
- Mortgage Insurance
Mortgage default insurance, commonly referred to as CMHC insurance, protects the lender in the case the borrower defaults on the mortgage. Mortgage default insurance is required on all mortgages with down payments of less than 20%, which are known as high ratio mortgages. Mortgage default insurance is calculated as a percentage and is applied to your mortgage amount.
- Mortgage Rate
The rate of interest you will pay on the outstanding balance of your mortgage.
- Mortgage Type
The mortgage type includes the term of the mortgage, between 1 to 10 years and the rate type, variable or fixed. The mortgage term is the length of time you commit to the terms, conditions and mortgage rate. The mortgage rate type can be fixed for the duration of the term or variable, fluctuating with the prime rate. Fixed rates are most popular and represent 66% of all mortgages, according to the Canadian Association of Accredited Mortgage Professionals.
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