ON PATRICK ST - A BRICK BUNGALOW WITH IN-LAWS

$425 000
91 PATRICK ST

Patrick St is the shy sibling of the more outgoing Pine and Barrie and Quebec. It does much of its own quiet thing a few blocks east of Plum and Cherry and Chestnut.  It dashes right up to McBurney Park before giving way to fancier Alma and Balaclava.

I like the street a lot. I like the steep hill at its southern limit. The church on your left. I like the way it supports the foot of Pine like a long ski, and keeps a lid on John and James and Charles. 

I like the variety of houses on the street. The grand red bricks and the modest clapboards. The eventual northern shift to big lots and light industrial.

Number 91 - the reason for this bit - sits right at the bottom of the hill across from the church. A three-bedroom elevated midcentury bungalow with a detached garage and fenced yard. That’s enough to set the pulse aflutter right there, isn’t it? I mean, you just don’t see many of those in these parts.

But this modern and impeccable property, set among all the century two-storeys, also boasts two one-bedroom in-law suites down below, accessed via a side entrance. And so this seems to us the perfect live-in opportunity.

On the main level, its oak floors and big windows are set perfectly square in their frames. There’s a spacious sensible floor plan. In other words it’s laid out for modern living and it’s less work than some of the old neighbours. 

The 30-year shingles were installed just five years ago. And with a high-efficiency gas furnace and modest utility costs, the math here is mighty convincing. The main floor rents for $1450 inclusive. Downstairs you’re looking at $850 and $750 inclusive. The Cap Rate at the asking price is a healthy 6.7%.

There’s a tour here, if you’re interested, and it comes with floorplans.

The usual realtor.ca is here.