337 Norene Street, Midland

$649,900
337 Norene Street

$649,900

New
16d
DuplexBungalow

337 Norene Street, Midland

Total Monthly Obligation $3,314

Beds
3
Baths
2
Park
6
Sqft
1500-2000
DOM
16d
Score
17
Yield
4.0%
Cash on Cash
-7.2%
Cap Rate
3.0%
5Y IRR
9.9%
10Y IRR
10.2%
Property Type-Duplex
MLS® Number-S13873480
Beds-3
Bathrooms-2
Size-1500-2000 sqft
Lot Size-60 × 111.1 ft
Listed on site-Oct 7, 2026
Style-Bungalow
Building Type-Duplex
Taxes-$3,805.54 (2026)
Parking-6 - Detached
Basement-Full, Unfinished
Heating-Baseboard (Electric)
Brokerage-Team Hawke Realty
Cooling-Central Air
Laundry-No
Fireplace-Yes
Pool-None
Facing-East
Exterior-Aluminum Siding
Roof-Shingles
Foundation-Concrete Block
Sewer-Sewer
Possession-Other
Neighbourhood-Midland
Title-Residential Freehold

No agent assigned

Turnkey duplex with excellent upside potential in Midland's quiet west end. This fully self-contained, front & back duplex boasts an ideal set up, ample parking, entirely metered utilities, and individual laundry areas. Unit 1: 1 bedroom, 1 bathroom, and a full, private, partially finished basement. Easily converted back to a 2-bedroom unit, creating an opportunity to increase rental income. Features gas heat and a gas fireplace. Vacant January 1st, allowing the new owner to set market rent, renovate to add a bedroom, or occupy the unit themselves. Unit 2: 2 bedrooms, 1 bathroom, a full partially finished basement, and a reliable long term tenant already in place. Tenant pays their own water and hydro. With one unit offering immediate value add and income growth potential and the other providing stable rental income, this is an excellent opportunity to add a flexible income-producing property to your portfolio.

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$
$
(utilities, internet...)
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%
%

Closing Costs

Mortgage Amount
$519,920
Land Transfer Taxes$9,473
Legal Fees (Est.)
$
Total cash required for closing$140,953

Total Monthly Obligation

$3,314/mo
Mortgage $2,622
Monthly Loss $2,624
Principal$690
Interest$1,932
Property Tax$317
Home Insurance$125
Variable Costs$250
Returns
Weight: 25%
Cap Rate
2.3%14
Cash-on-Cash
-11.8%0
5-Year IRR
6.3%15
10-Year IRR
7.8%
Returns Index
9.1/ 100
Growth Sentiment
Weight: 20%
%/yr
Score+50
%/yr
Score+50
%
%
Growth Index
50.0/ 100
GradeD
17/ 100
Avoid•Pass

Strategy: Buy & Hold — Weights: CFI 35% · RI 25%
RKI 20% · GI 20%

Assumptions & Inputs
$/mo
%
$
yr
%
Cash Flow
Weight: 35%
Gross Rent
$25,800/yr
NOI
$14,914/yr
Net Cash Flow
-$1,379/mo
Cash Margin
-64.1%0
Cash Flow Index
0.0/ 100
Risk Profile
Weight: 20%
DSCR
0.474
LTV Ratio
80.0%18
Vacancy Buffer
2.9 mo48
Risk Index
23.7/ 100

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

Comparables

Properties near 337 Norene Street

Time

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