1 Melissa Street
Parry Sound, ON
- 10 bed
- 4 bath
- approx. 3000-3500 sqft
- Fourplex
- 65 days on market
Exceptional 4 Plex Investment Opportunity in the thriving Town of Parry Sound. Fantastic offering at an 8+ cap rate. This well maintained, purpose built fourplex offers a rare combination of strong income potential, low maintenance ownership, and long term investment stability in the heart of Northern Ontario cottage country. Featuring three spacious 3 bedroom units and one 1 bedroom unit, all separately metered for hydro, this solid asset is ideally positioned close to the hospital, vibrant downtown core, and the breathtaking shores of Georgian Bay. Built in 1991 with notable updates including windows and shingles, this property offers reliable cash flow with established long term tenants already in place. Ample front and rear parking further enhances tenant convenience and desirability. An outstanding opportunity for investors seeking to expand their portfolio with a high performing multi residential asset in a growing and highly desirable community. The building has total 4 units. 3 units are 3 bed room with 13x13 Hall and kitchen; 10x13 Bedroom 1 ; 9.6x12 bedroom 2 9.6x10 bedroom 3. Three units fully renovated in June 2025 with high-quality modern finishes (1) Vinyl flooring installed throughout all units (2) Brand new plumbing and fixtures (3) New kitchen upgrades including cabinets, fridge, stove, and fittings (3) Newly renovated bathrooms with contemporary finishes. Freshly painted interiors throughout (4) New washer and dryer installed (2025) (5) Tenants currently in place (6) All utilities paid by tenants, ensuring efficient operating costs (7) Each unit features a separate private entrance (8) Ample parking with 2- car parking available per unit. One unit is one bedroom: - The tenant is planning to move soon. Can be easily converted to 2 bedroom unit. Increasing rental value.
Listing Details
- Taxes (2025)
- $5,215
- Listed
- July 7, 2026
Price History
Listing history
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Property
- Style
- 2-Storey
- Age
- 31-50
- Construction
- Brick
- Roof
- Asphalt Shingle, Shingles
- Foundation
- Concrete Block
- Interior
- None
Parking
- Garage
- None
- Covered Spaces
- 0
- Total Parking
- 7
Utilities
- Sewer
- Sewer
- Heat Source
- Electric
Location & Legal
- Cross Street
- Hwy 400 to Bowes St to Forest St to Parry Sound Rd, right to Melissa St (left) on corner
- Parcel Number
- 521840107
- Possession
- 30-59 days
- Occupancy
- Tenant
Included
- Exclusions
- Tenants personal belongings
- Rental Items
- Hot water Heater
Schools
Elementary
- École élémentaire publique aux Quatre-Vents1.2 km
French public · CS public du Nord-Est de l'Ontario
- TBA - Near North District School Board. (Elementary)2.3 km
Public · Near North DSB
- Parry Sound Intermediate School School2.3 km
Public · Near North DSB · 110 students
Secondary
- Parry Sound High School2.2 km
Public · Near North DSB · 625 students
Grade 10 literacy: 69% met the provincial standard
- École secondaire publique aux Quatre-Vents3 km
French public · CS public du Nord-Est de l'Ontario
Straight-line distance. Nearby schools are not necessarily the assigned schools — confirm catchment with the school board. Scores are EQAO provincial test results for 2024-2025.
Community
Postal area P2A
- Population
- 14,695
- Private dwellings
- 10,034
- Median age
- 54
- Average household size
- 2.2
- Median household income
- $73,500
Source: Statistics Canada, 2021 Census of Population, catalogue 98-401-X2021013. Adapted from Statistics Canada. This does not constitute an endorsement by Statistics Canada of this product.
Local market
Residential Freehold in Parry Sound · last 12 months
- Median sold price
- $472,500
- Homes sold
- 102
- Median days on market
- 38
- Sale-to-list price
- 94.1%
Based on 102 recorded sales of residential freehold properties in Parry Sound over the last 12 months.
Listed by
ROYAL LEPAGE TERREQUITY REALTY
Walk Score
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Location
Street View
Mortgage Calculator
$190,000
Estimated Monthly Payment
$4,667
Land transfer tax
Ontario land transfer tax only. An estimate — not legal or financial advice. Municipal land transfer tax applies in Toronto and is not included.
Investment Analysis
No recent nearby lease data. Enter a rent to see the numbers.
Mortgage: $4,667/mo (20% down, 5.5%)
Taxes: $435/mo · Insurance: $238/mo
Estimates only. Consult a financial advisor.
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