487 King George St
Otonabee, Peterborough, K9J 1S2
FOR SALE
$549,900
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Property Description
Prime investment opportunity in the sought-after South-end area of Peterborough. This attractive Duplex boasts a 1 1/2 storey layout, with the main floor offering 2 bedrooms and a bathroom, and the upstairs apartment featuring 3 bedrooms and another bathroom. The property includes a single-car detached garage, adding to its appeal for savvy investors. Perfect for those looking to maximize their investment through strategic renovations. Key highlights include new flooring throughout the main floor, a refreshed upper unit, a newly converted gas furnace, a newly added 3-piece bathroom on the second floor, large rec room in the basement, and a convenient storage room. Don't miss out on this promising opportunity to add value to your real estate portfolio.
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Listing History
| List Date | End Date | Days Listed | List Price | Sold Price | Status |
|---|---|---|---|---|---|
| 2023-10-05 | 2024-01-02 | 89 | $439,900 | $420,000 | Sold |
Extras
Some photos have been virtually staged.
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Property Details
Street
Community
City
Property Type
Duplex, 1 1/2 Storey
Approximate Sq.Ft.
1500-2000
Lot Size
45' x 97'
Fronting
North
Taxes
$3,460 (2023)
Basement
Full, Part Fin
Exterior
Concrete
Heat Type
Forced Air
Heat Source
Gas
Air Conditioning
None
Water
Municipal
Parking Spaces
3
Driveway
Private
Garage Type
Detached
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Room Summary
| Room | Level | Size | Features |
|---|---|---|---|
| Br | Main | 11.48' x 11.81' | |
| 2nd Br | Main | 8.20' x 11.48' | |
| Kitchen | Main | 11.48' x 11.81' | |
| Living | Main | 11.48' x 16.40' | |
| Bathroom | Main | 4.92' x 6.56' | |
| 3rd Br | 2nd | 12.14' x 12.47' | |
| 4th Br | 2nd | 9.51' x 12.14' | |
| 5th Br | 2nd | 5.91' x 12.80' | |
| Kitchen | 2nd | 5.25' x 6.89' | |
| Other | 2nd | 5.25' x 10.17' | |
| Laundry | Lower | 10.83' x 11.81' | |
| Rec | Lower | 8.86' x 14.44' |
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Peterborough Market Statistics
Peterborough Price Trend
487 King George St is a 5-bedroom 2-bathroom home listed for sale at $549,900, which is $69,900 (14.6%) higher than the average sold price of $480,000 in the last 30 days (April 14 - May 13). During the last 30 days the average sold price for a 5 bedroom home in Peterborough declined by $429,500 (47.2%) compared to the previous 30 day period (March 15 - April 13) and down $505,000 (51.3%) from the same time one year ago.Inventory Change
There were 6 5-bedroom homes listed in Peterborough over the last 30 days (April 14 - May 13), which is up 50.0% compared with the previous 30 day period (March 15 - April 13) and up 20.0% compared with the same period last year.Sold Price Above/Below Asking ($)
5-bedroom homes in Peterborough typically sold ($19,900) (4.1%) below asking price over the last 30 days (April 14 - May 13), which represents a $35,050 increase compared to the previous 30 day period (March 15 - April 13) and ($19,500) less than the same period last year.Sales to New Listings Ratio
Sold-to-New-Listings ration (SNLR) is a metric that represents the percentage of sold listings to new listings over a given period. The value below 40% is considered Buyer's market whereas above 60% is viewed as Seller's market. SNLR for 5-bedroom homes in Peterborough over the last 30 days (April 14 - May 13) stood at 16.7%, down from 100.0% over the previous 30 days (March 15 - April 13) and down from 40.0% one year ago.Average Days on Market when Sold vs Delisted
An average time on the market for a 5-bedroom 2-bathroom home in Peterborough stood at 108 days when successfully sold over the last 30 days (April 14 - May 13), compared to 39 days before being removed from the market upon being suspended or terminated.Listing contracted with Exp Realty
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"Prime Investment Opportunity in Downtown Peterborough! Fully Legitimate Duplex, Move-In Ready, Generating Positive Cash Flow. Nestled in the Vibrant Heart of the City, this Sturdy Brick Property Boasts Two Spacious Above-Ground Units, Each with Private Entrances. The Main Floor Unit has been Skillfully Transformed into a 3-Bedroom Layout, Complete with a Generous Eat-In Kitchen, Full Four-Piece Bathroom, and Expanded Living Space (Former Family Room Now Serving as a 3rd Bedroom). The Upper Unit Offers Two Comfortable Bedrooms, a Large Kitchen, and Inviting Living Area. Ideal for Both Novice and Astute Investors Alike. Current Tenants on Solid Leases Extending till April and May, Eager to Continue Residence. Don't Miss Out on this Exceptional Opportunity!"
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