6492 Gerrie Road 408, Centre Wellington

$619,000
6492 Gerrie Road 408

$619,000

New
16d
Condo Apartment1 Storey/Apt

6492 Gerrie Road 408, Centre Wellington

Total Monthly Obligation $3,770

Beds
2
Baths
2
Park
1
Sqft
1200-1399
DOM
16d
Score
19
Yield
6.3%
Cash on Cash
-3.2%
Cap Rate
3.9%
5Y IRR
13.0%
10Y IRR
12.6%
Property Type-Condo Apartment
MLS® Number-X13875716
Beds-2
Bathrooms-2
Size-1200-1399 sqft
Listed on site-Oct 7, 2026
Style-1 Storey/Apt
Building Type-Condo Apartment
Age-11-15
Taxes-$4,574.15 (2026)
Maintenance-$692/mo
Locker-Owned
Parking-1 - None
Basement-None
Heating-Forced Air (Ground Source)
Brokerage-REAL BROKER ONTARIO LTD.
Cooling-Central Air
Laundry-No
Fireplace-No
Pool-None
Exterior-Brick
Possession-Immediate
Neighbourhood-Elora/Salem
Title-Residential Condo & Other

No agent assigned

Welcome to Suite 408 at 6492 Gerrie Road in beautiful Elora! Built in 2014, this immaculately maintained condominium building is home to this spacious 1,216 sq. ft., 2-bedroom, 2-bathroom suite, lovingly maintained by its original owner. The bright, open-concept living and dining area features beautiful flooring, large windows and plenty of natural light. The kitchen offers stainless steel appliances, including a dishwasher, and overlooks the living space. Step outside onto your private balcony and take in the beautiful views while enjoying your morning coffee or unwinding at the end of the day (electric BBQs allowed). The generous primary bedroom features two large closets leading to a private ensuite, along with the convenience of in-suite laundry. The second bedroom offers flexibility for guests, a home office or hobby space, and features its own spacious closet. Storage is certainly not in short supply here, with generous closet space throughout the suite and a large, conveniently located main-floor storage locker. With two full bathrooms, one featuring a walk-in shower and the other a bathtub, this suite offers comfort and practicality for everyday living. Additional highlights include geothermal heating and cooling and a new hot water tank (2025, owned). The building is beautifully maintained and offers an impressive selection of amenities, including a fitness room, guest suite for overnight visitors, recently updated party room, bicycle storage and an outdoor gazebo. Just steps from the Elora Cataract Trailway and close to charming shops, cafés, restaurants, schools and the museum, there's so much to enjoy right outside your door. Gerrie Farm Market is just across the street, where you can pick up fresh produce and delicious baked goods. Enjoy the charm of Elora, the convenience of nearby amenities and the ease of condo living in this beautiful, move-in-ready home. All that's left to do is unpack and enjoy! One parking space is included.

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(utilities, internet...)
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%
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Closing Costs

Mortgage Amount
$495,200
Land Transfer Taxes$8,855
Legal Fees (Est.)
$
Total cash required for closing$134,155

Total Monthly Obligation

$3,770/mo
Mortgage $2,497
Monthly Loss $3,113
Principal$657
Interest$1,840
Property Tax$381
Condo Fees$692
Home Insurance$50
Variable Costs$150
Returns
Weight: 25%
Cap Rate
3.2%19
Cash-on-Cash
-7.8%1
5-Year IRR
9.7%33
10-Year IRR
10.5%
Returns Index
17.6/ 100
Growth Sentiment
Weight: 20%
%/yr
Score+50
%/yr
Score+50
%
%
Growth Index
50.0/ 100
GradeD
19/ 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
$38,700/yr
NOI
$19,552/yr
Net Cash Flow
-$868/mo
Cash Margin
-26.9%0
Cash Flow Index
0.0/ 100
Risk Profile
Weight: 20%
DSCR
0.658
LTV Ratio
80.0%18
Vacancy Buffer
2.5 mo41
Risk Index
22.5/ 100

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

Comparables

Properties near 6492 Gerrie Road 408

Time

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