229 Main Street, Prince Edward County

$2,395,000
229 Main Street

$2,395,000

Price Change
49d
Detached3-Storey

229 Main Street, Prince Edward County

Total Monthly Obligation $10,982

Beds
4
Baths
4
Park
4
Sqft
5000 +
DOM
49d
Score
13
Yield
1.6%
Cash on Cash
-16.6%
Cap Rate
1.0%
5Y IRR
2.7%
10Y IRR
4.8%
Property Type-Detached
MLS® Number-X13747042
Beds-4
Bathrooms-4
Size-5000 + sqft
Lot Size-41.85 × 121.12 ft
Listed on site-Sep 4, 2026
Style-3-Storey
Building Type-Detached
Age-100+
Taxes-$11,355.66 (2025)
Parking-4 - None
Basement-Full, Unfinished
Heating-Forced Air (Gas)
Brokerage-Re/Max Quinte Ltd.
Cooling-Central Air
Laundry-No
Fireplace-Natural Gas
Pool-None
Facing-North
Exterior-Brick
Roof-Flat, Membrane
Foundation-Concrete
Sewer-Sewer
Possession-Flexible
Neighbourhood-Picton
Title-Residential Freehold

No agent assigned

Live, work and invest in the heart of Picton. This remarkable historic property offers a rare opportunity to own an approximately 9,000 sq. ft. landmark on Main Street, combining an impressive private residence with established commercial income and additional residential income potential. Originally built in 1905 for the Order of the Oddfellows and later home to various bank tenants, the property was extensively renovated in 2008 into a one-of-a-kind executive residence while retaining many of its original architectural details and character. The expansive 4-bedroom, 3.5-bathroom home offers generous living and entertaining spaces throughout, blending historic charm with modern comfort. Notable features include the original oak staircase, a gas fireplace, the original bank safe repurposed as a wine cellar, formal and casual living spaces, an entertainment room, home gym, art studio and a spacious primary suite with a luxurious 7-piece ensuite. A rooftop deck overlooking downtown Picton provides an incredible outdoor space with panoramic views of the town - a truly unique offering. Adding to the versatility of the property is a separate 1-bedroom secondary suite with its own kitchenette, bathroom and living area, offering excellent potential for guests, extended family or additional rental income. Accessibility has also been considered, with an existing chair lift and a framed shaft designed to accommodate a future elevator. The main-floor commercial space is occupied by a long-term government tenant, providing established rental income and creating an attractive opportunity to offset the costs of ownership. Set in the centre of downtown Picton, steps from shops, restaurants, cafés and amenities, 229 Main Street offers an exceptional combination of history, lifestyle, location and income potential. Whether envisioned as an extraordinary private residence, a live-work opportunity or an investment, this is a truly unique offering in the heart of Prince Edward County.

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(utilities, internet...)
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%
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Closing Costs

Mortgage Amount
$1,916,000
Land Transfer Taxes$46,350
Legal Fees (Est.)
$
Total cash required for closing$526,850

Total Monthly Obligation

$10,982/mo
Mortgage $9,661
Monthly Loss $8,440
Principal$2,542
Interest$7,119
Property Tax$946
Home Insurance$125
Variable Costs$250
Returns
Weight: 25%
Cap Rate
0.8%7
Cash-on-Cash
-18.9%0
5-Year IRR
0.8%3
10-Year IRR
3.6%
Returns Index
2.8/ 100
Growth Sentiment
Weight: 20%
%/yr
Score+50
%/yr
Score+50
%
%
Growth Index
50.0/ 100
GradeD
13/ 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
$38,400/yr
NOI
$18,704/yr
Net Cash Flow
-$8,102/mo
Cash Margin
-253.2%0
Cash Flow Index
0.0/ 100
Risk Profile
Weight: 20%
DSCR
0.161
LTV Ratio
80.0%18
Vacancy Buffer
0.9 mo16
Risk Index
11.7/ 100

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

Comparables

Properties near 229 Main Street

Time

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