23 Wright Street, Overbrook - Castleheights and Area

$749,900
23 Wright Street

$749,900

New
30d
DetachedBungalow

23 Wright Street, Overbrook - Castleheights and Area

Total Monthly Obligation $3,917

Beds
5
Baths
3
Park
4
Sqft
1500-2000
DOM
30d
Score
36
Yield
7.7%
Cash on Cash
8.5%
Cap Rate
6.4%
5Y IRR
22.5%
10Y IRR
20.3%
Property Type-Detached
MLS® Number-X13820338
Beds-5
Bathrooms-3
Size-1500-2000 sqft
Lot Size-52.25 × 100 ft
Listed on site-Sep 23, 2026
Style-Bungalow
Building Type-Detached
Age-51-99
Taxes-$6,206 (2025)
Parking-5 - Carport
Basement-Full, Finished
Heating-Forced Air (Gas)
Brokerage-RE/MAX HALLMARK REALTY GROUP
Cooling-None
Laundry-No
Fireplace-No
Pool-None
Facing-North
Exterior-Brick
Roof-Asphalt Shingle
Foundation-Block
Sewer-Sewer
Possession-Flexible
Neighbourhood-3501 - Overbrook
Title-Residential Freehold

No agent assigned

23 Wright Street sits in one of the most sought-after pockets of Overbrook; between the Vanier Parkway and the Rideau River, within walking distance of the river's pathway system and the Adàwe pedestrian bridge connecting directly to Sandy Hill and downtown Ottawa. This property is being offered alongside its immediate neighbour at 25 Wright Street, and together the two lots represent a rare side-by-side opportunity in a neighbourhood where infill activity is well underway and actively reshaping the streetscape block by block. As an estate sale, both properties are being conveyed in their current conditions. As-built, 23 Wright Street currently operates as a triplex: a 3 bedroom/1 bathroom main floor unit (empty) and two 1 bedroom/1 bathroom basement apartments, all occupied by long-standing tenants whose rents sit meaningfully below current market rates. A buyer can hold and re-position over time or proceed to redevelopment as the surrounding blocks have seen a steady pace of replacement builds, with developers delivering modern semis and singles on similarly-sized lots throughout the area. This is a great infill candidate. The property includes a single carport and a large laneway with room for at least four vehicles. Hurdman LRT Station is minutes away, OC Transpo routes 12, 14, and 18 serve the area, Highway 417 is within easy reach, and downtown Ottawa is under 10 minutes by transit. Loblaws on McArthur Avenue, the commercial strip along Montreal Road, and Beechwood Village are all close by, and the Rideau River pathway is steps from the door. For a buyer seeking land in a tight, downtown-adjacent market, two adjacent lots in this location rarely align. Further details on 23 and 25 Wright are available upon request.

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(utilities, internet...)
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%
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Closing Costs

Mortgage Amount
$599,920
Land Transfer Taxes$11,473
Legal Fees (Est.)
$
Total cash required for closing$162,953

Total Monthly Obligation

$3,917/mo
Mortgage $3,025
Monthly Loss $3,121
Principal$796
Interest$2,229
Property Tax$517
Home Insurance$125
Variable Costs$250
Returns
Weight: 25%
Cap Rate
5.5%44
Cash-on-Cash
3.0%15
5-Year IRR
18.1%86
10-Year IRR
17.1%
Returns Index
49.1/ 100
Growth Sentiment
Weight: 20%
%/yr
Score+50
%/yr
Score+50
%
%
Growth Index
50.0/ 100
GradeD
36/ 100
Avoid•Pass

Strategy: Buy & Hold — Weights: CFI 35% · RI 25%
RKI 20% · GI 20%

Assumptions & Inputs
$/mo
%
$
yr
%
Cash Flow
Weight: 35%
Gross Rent
$57,576/yr
NOI
$41,112/yr
Net Cash Flow
$401/mo
Cash Margin
8.4%21
Cash Flow Index
21.0/ 100
Risk Profile
Weight: 20%
DSCR
1.1338
LTV Ratio
80.0%18
Vacancy Buffer
2.4 mo38
Risk Index
31.7/ 100

*This analysis is independently generated NOT provided by TREB or CREA.

Comparables

Properties near 23 Wright Street

Time

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