218 Powley St
Thunder Bay, Ontario P7A2K9
4 beds• 3 baths• 1,822 sqft
Description
New Listing. Live in one unit while your tenants help pay the mortgage! Whether you're a first-time buyer, investor, or looking to enter the rental market, this well-maintained income property offers an outstanding opportunity. The spacious owner-occupied bungalow features a comfortable 3-bedroom layout with a bright and inviting living room, separate dining area, and a large kitchen offering plenty of cabinet and workspace. An exceptional detached garage provides ample room for vehicles, hobbies, or additional storage. The property offers three self-contained units in total, including the owner's living quarters. The two additional rental suites each feature their own private entrance, kitchen, and 4-piece bathroom, with shared access to the laundry area, creating an excellent opportunity to generate steady rental income while enjoying the comfort of your own home. Whether you're looking to offset your mortgage, purchase your first home, enter the rental market, or expand your investment portfolio, this versatile property offers flexibility and excellent income potential. Located on the city's desirable north side, you'll enjoy easy access to Boulevard Lake, scenic walking trails, parks, schools, shopping, and everyday amenities. A rare opportunity to own a well-maintained income property that allows you to live comfortably while generating rental income. Whether you're a first-time buyer, aspiring landlord, or seasoned investor, this property offers the perfect combination of homeownership and investment potential. Let's Book Your Viewing, Call Today. (id:39198)
Facts & Features
● Building Type
Other
● Year built
--
● Square Footage
1,822 sqft
● Stories
--
● Bedrooms
4
● Bathrooms
3
● Parking
--
● Neighbourhood
Thunder Bay
● Land size
--
● Heating type
Forced air, Natural gas
● Basement type
Partially finished, Full
● Parking Type
--
● Time on REALTOR.ca
63 days
Home price
$535,000
Initial Deposit
I want to start the program with
an initial down payment of
Minimum 2% of the home price or $5,000 whichever is higher
The higher the initial deposit, the lower the monthly payments
Your Monthly Payment
$5,083/month
The payment includes
Rent
$4,196
Rent is rent and it won't be deducted from the buyback price.
Monthly Savings
$887
Each month, $887 is set aside toward your homeownership goal in addition to your initial down payment. This mandatory monthly savings help you achieve your savings goal.
Buyback
Here is the final price if I buy the house after:
Buyback Price
$619,329
Cumulative Down Payment
$36,933
• Initial Deposit
$5,000
• Monthly Savings x 36 months
$31,933
Buyback Price
$561,750
Cumulative Down Payment
$15,644
• Initial Deposit
$5,000
• Monthly Savings x 12 months
$10,644
Buyback Price
$589,838
Cumulative Down Payment
$26,289
• Initial Deposit
$5,000
• Monthly Savings x 24 months
$21,289
Buyback Price
$619,329
Cumulative Down Payment
$36,933
• Initial Deposit
$5,000
• Monthly Savings x 36 months
$31,933
There is no minimum rental terms. You can buy back the home anytime throughout the 3-year standard rent-to-own term!
Rent-to-Own This Home for
$5,083/month
This home is listed on realtor.ca. Requity Homes doesn‘t own it—yet. But if it fits your budget and meets our criteria, we can buy it for you through our rent-to-own program.
You move in with as little as 2% down. Part of your monthly payment builds your future down payment. You can buy back the home anytime throughout the 3-year standard rent-to-own term!
No Hidden Fees, No Hidden Costs - Requity pays legal fees, title insurance and land transfer tax when Requity buys the home upfront. Client pays for inspection.
Client initial deposit is applied directly to the down payment when clients are ready to buy the home.
Few ways to reduce your monthly payments
• Look at homes with a lower price
• Put down a higher initial down payment
• Sublet the rooms for extra income
Canada’s #1 Rent-to-Own —
Changing The Rules of The Game
A smarter, safer path to homeownership — explained.
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Have Questions About Rent-to-Own? Let's Talk.
Speak to our team about your eligibility, monthly payments, and
next steps toward homeownership.