22 - East of Sir John A. Blvd · K7K 3T4
$899,000
$400 / sq ft3 weeks on market
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7.8 NET CAP RATE | $78,000 GROSS ANNUAL INCOME | TURN-KEY DUPLEX. An exceptional investment opportunity offering a strong 7.8 net cap rate, this recently updated duplex generates $78,000 in annual gross rental income and is ideally located just steps from the downtown core and within easy walking distance to Queen's University. Each spacious unit features four bedrooms, 2 full bathrooms, large principal rooms, and in-suite laundry, creating a highly desirable rental offering in a proven student and professional rental location. The well-maintained property offers parking for three vehicles, with additional upside potential through the future monetization of the parking spaces. New leases are in place through the end of April 2027(with the high possibility of both units renewing), providing investors with stable, secured income and immediate cash-flow potential. The current owners have enjoyed zero vacancy throughout their ownership, highlighting the property's strong tenant demand and desirable location. Additional recent improvements include a new roof installed in 2024 as well as new laundry/bathroom in unit one in 2026 . With a 7.8 NET CAP RATE, established rental income, secured tenancy, zero vacancy history, and further potential to increase future revenue, this is a compelling turn-key investment opportunity for investors seeking strong, reliable cash flow. Unit 1 $3200/month plus tenants pay for utilities, Unit 2 $3300/month and tenants pay for utilities.
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This home is priced below most comparable listings — about 15% of comparable multi-unit / investment listings in Kingston are asking less.
Based on 13 comparable active multi-unit / investment listings in Kingston. These are asking prices, not sale prices.
Estimate only. Excludes CMHC insurance premiums, which apply below 20% down, and does not constitute a mortgage approval or an offer of credit.
Payable on closing, on top of the purchase price.
An estimate on the asking price of $899,000. Rates current as of September 2026; confirm the final figure with your real estate lawyer.
Listing courtesy of SUTTON GROUP-MASTERS REALTY INC., BROKERAGE. Listing data is provided in part by the Toronto Regional Real Estate Board (TRREB) and is deemed reliable but is not guaranteed accurate. Information is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties. Data is updated every 15 minutes.