589 RIDEAU Street 101, Lower Town - Sandy Hill

$379,800
589 RIDEAU Street 101

$379,800

New
7d
Condo ApartmentApartment

589 RIDEAU Street 101, Lower Town - Sandy Hill

Total Monthly Obligation $2,560

Beds
1
Baths
1
Park
1
Sqft
500-599
DOM
7d
Score
19
Yield
6.6%
Cash on Cash
-4.4%
Cap Rate
3.6%
5Y IRR
12.1%
10Y IRR
11.9%
Property Type-Condo Apartment
MLS® Number-X14091088
Beds-1
Bathrooms-1
Size-500-599 sqft
Listed on site-Oct 16, 2026
Style-Apartment
Building Type-Condo Apartment
Taxes-$3,338.92 (2026)
Maintenance-$550/mo
Locker-Owned
Parking-1 - None
Basement-None, None
Heating-Forced Air (Gas)
Brokerage-IDEAL PROPERTIES REALTY
Cooling-Window Unit(s)
Laundry-No
Fireplace-Natural Gas
Pool-None
Exterior-Brick
Foundation-Stone
Possession-Immediate
Neighbourhood-4002 - Lower Town
Title-Residential Condo & Other

No agent assigned

Welcome to Wallis House, one of Ottawa's most unique and historic residences. Originally a 19th-century hospital, this beautifully converted building combines timeless character with modern downtown living.This exceptional one bedroom, one-bathroom unit offers a rare and versatile layout with two separate entrances one from the building and one opening directly onto your own private terrace. This unique feature provides exceptional privacy, convenience, and a seamless connection to outdoor living, creating a truly special urban retreat.The unit features beautiful hardwood flooring, a cozy fireplace, a modern kitchen, and the convenience of in-unit laundry. The thoughtfully designed layout offers a comfortable and functional living space, perfect for homeowners, professionals, or investors looking for a unique rental opportunity in the heart of downtown Ottawa.Residents can enjoy exceptional building amenities, including a rooftop terrace and guest suite, all while being steps away from Parliament Hill, the ByWard Market, restaurants, shopping, public transit, and everything downtown Ottawa has to offer.Whether you are seeking a distinctive urban home or a property with excellent rental potential, this one of a kind residence offers a rare opportunity to experience the charm and convenience of Wallis House.

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(utilities, internet...)
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%
%

Closing Costs

Mortgage Amount
$303,840
Land Transfer Taxes$4,172
Legal Fees (Est.)
$
Total cash required for closing$81,632

Total Monthly Obligation

$2,560/mo
Mortgage $1,532
Monthly Loss $2,157
Principal$403
Interest$1,129
Property Tax$278
Condo Fees$550
Home Insurance$50
Variable Costs$150
Returns
Weight: 25%
Cap Rate
2.7%16
Cash-on-Cash
-10.0%1
5-Year IRR
8.1%24
10-Year IRR
9.4%
Returns Index
13.0/ 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
$25,104/yr
NOI
$10,255/yr
Net Cash Flow
-$677/mo
Cash Margin
-32.4%0
Cash Flow Index
0.0/ 100
Risk Profile
Weight: 20%
DSCR
0.566
LTV Ratio
80.0%18
Vacancy Buffer
3.8 mo65
Risk Index
29.6/ 100

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

Comparables

Properties near 589 RIDEAU Street 101

Time

Comparables are calculated within a 3km radius based on properties sold or leased within the past 6 months. This helps you understand the current market value and potential rental yield with high precision.

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Data last updated within the past 24 hours.