407 Main Street E, Norwich

$1,495,000
407 Main Street E

$1,495,000

New
18d
Multiplex2-Storey

407 Main Street E, Norwich

Total Monthly Obligation $6,817

Beds
9
Baths
5
Park
6
Sqft
5000 +
DOM
18d
Property Type-Multiplex
MLS® Number-X13860628
Beds-9
Bathrooms-5
Size-5000 + sqft
Lot Size-126.78 × 194 ft
Listed on site-Oct 5, 2026
Style-2-Storey
Building Type-Multiplex
Taxes-$4,939 (2025)
Parking-9 - None
Basement-Unfinished, Full
Heating-Forced Air (Gas)
Brokerage-Wiltshire Realty Inc. Brokerage
Cooling-Central Air
Laundry-No
Fireplace-Natural Gas
Pool-None
Facing-South
Exterior-Vinyl Siding
Roof-Metal
Foundation-Concrete Block, Stone, Concrete
Sewer-Septic
Possession-Flexible
Neighbourhood-Springford
Title-Residential Freehold

No agent assigned

A charming and original piece of Springford with strong investment appeal.This 5-unit multi-residential property is situated on a large lot backing onto the creek, offering a rare combination of stable rental income, tenant desirability, and long-term value.All units have been well maintained, with Units 4 and 5 recently updated, featuring improved kitchens, bathrooms, flooring, and additional upgrades. The building is serviced by five independent gas forced-air furnaces, providing unit-by-unit efficiency and helping keep operating costs predictable. Most wiring and plumbing have been updated, adding peace of mind for long-term ownership.The property is protected by a Duraloc steel roof (approximately 20 years old), contributing to its low-maintenance profile. Outdoor space further enhances tenant appeal, with Units 2, 3, and 5 enjoying private decks or balconies overlooking the expansive rear yard, while Units 1 and 4 benefit from a generous front porch.Set on a deep lot with creek views, this property offers excellent tenant demand today, with potential long-term upside tied to land value and future enhancement in a growing rural community. A compelling opportunity for investors seeking a solid buy-and-hold asset with durability, income stability, and room to grow. Rent roll and financial information available to qualified buyers.

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Closing Costs

Mortgage Amount
$1,196,000
Land Transfer Taxes$26,375
Legal Fees (Est.)
$
Total cash required for closing$326,875

Total Monthly Obligation

$6,817/mo
Mortgage $6,030
Monthly Loss $5,230
Principal$1,587
Interest$4,444
Property Tax$412
Home Insurance$125
Variable Costs$250

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

Comparables

Properties near 407 Main Street E

Time

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