51 Mcgowan Street, Centre Wellington

$1,049,900
51 Mcgowan Street

$1,049,900

Price Change
22d
DetachedBungalow

51 Mcgowan Street, Centre Wellington

Total Monthly Obligation $5,095

Beds
4
Baths
3
Park
4
Sqft
1500-2000
DOM
22d
Score
15
Yield
3.2%
Cash on Cash
-10.2%
Cap Rate
2.4%
5Y IRR
7.6%
10Y IRR
8.4%
Property Type-Detached
MLS® Number-X13855488
Beds-4
Bathrooms-3
Size-1500-2000 sqft
Lot Size-15.24 × 32 ft
Listed on site-Oct 1, 2026
Style-Bungalow
Building Type-Detached
Taxes-$5,818.12 (2026)
Parking-6 - Attached
Basement-Finished with Walk-Out
Heating-Forced Air (Gas)
Brokerage-M1 Real Estate Brokerage Ltd
Cooling-Central Air
Laundry-No
Fireplace-Natural Gas
Pool-None
Facing-East
Exterior-Brick, Stone
Roof-Asphalt Shingle
Foundation-Poured Concrete
Sewer-Sewer
Possession-Flexible
Neighbourhood-Elora/Salem
Title-Residential Freehold

No agent assigned

A green-space backdrop, generous main-floor living and a finished walkout lower level make this Elora bungalow a standout. Built by Wrighthaven Homes in 2010, the home offers three main-floor bedrooms plus a fourth bedroom downstairs, three full bathrooms and an attached double garage. A sunken living room adds character to the main floor, while the dining area and white kitchen create an inviting setting for everyday life and entertaining. Stainless-steel appliances, a raised breakfast bar and sliding doors to the deck make the kitchen both practical and welcoming. The primary bedroom features a walk-in closet and four-piece ensuite, and main-floor laundry adds everyday convenience. Downstairs, a family room with a gas fireplace, a spacious recreation room, a fourth bedroom and a three-piece bathroom offer room for guests, hobbies and relaxed evenings at home. Walk out to the lower covered deck and landscaped backyard, or enjoy the greenery from the upper deck. A shed and generous storage areas add useful space, with parking for four vehicles in the driveway plus two in the garage. Updates include roof shingles (2021), central vacuum and components (2023), primary-bedroom carpet and stove (2024), and an owned water softener (2025). A comfortable, flexible home with a peaceful outlook in Elora.

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

Mortgage Amount
$839,920
Land Transfer Taxes$17,473
Legal Fees (Est.)
$
Total cash required for closing$228,953

Total Monthly Obligation

$5,095/mo
Mortgage $4,235
Monthly Loss $3,980
Principal$1,114
Interest$3,121
Property Tax$485
Home Insurance$125
Variable Costs$250
Returns
Weight: 25%
Cap Rate
1.9%11
Cash-on-Cash
-13.7%0
5-Year IRR
4.8%10
10-Year IRR
6.6%
Returns Index
6.5/ 100
Growth Sentiment
Weight: 20%
%/yr
Score+50
%/yr
Score+50
%
%
Growth Index
50.0/ 100
GradeD
15/ 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
$33,456/yr
NOI
$19,792/yr
Net Cash Flow
-$2,586/mo
Cash Margin
-92.7%0
Cash Flow Index
0.0/ 100
Risk Profile
Weight: 20%
DSCR
0.393
LTV Ratio
80.0%18
Vacancy Buffer
1.9 mo29
Risk Index
16.9/ 100

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

Comparables

Properties near 51 Mcgowan Street

Time

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