98 North Street
Lanark Highlands, ON
- 6 bed
- 4 bath
- approx. 2500-3000 sqft
- Fourplex
- 6 days on market
Excellent opportunity to own a solid income-producing 4-plex in Lanark, generating $56,400 in gross annual rental income. The property consists of four rental units. The 1st-floor 2-bedroom apartment rents for $1,350 per month, while the 2nd-floor 1-bedroom apartment rents for $1,200 per month. There are also two 2-bedroom apartments occupying the 1st and 2nd floors, renting for $650 and $1,500 per month respectively. That gives the property a total rental income of approximately $4700 per month, or $56,400 annually. The annual operating expenses are very reasonable. Property taxes are $4,019.07 per year, insurance is $3,520, hydro is $600, and propane is $1,400, total annual expenses to approximate $9,539.07. There are also several desirable features that make this property attractive from both an investment maintenance standpoint. The building has a steel roof, copper wiring with breaker panels, hardwood floors, a newer water pressure tank, and a full basement that provides plenty of storage space. The property uses a propane hot-water tank, and all tenants pay their own hydro and heating costs, helping to keep the owner's operating expenses down. Lanark is approximately 45 minutes from downtown Ottawa, 10 miles north of Perth, and about 20 minutes west of Carleton Place. The community offers the everyday amenities tenants need, including a grocery store, gas station, library, town hall, pizzeria, chip stands, and more. Lanark is also attracting increasing attention from Ottawa buyers looking for more affordable real estate and income-producing properties outside the city. For investors looking for cash flow, affordability, and long-term potential, this is a property worth taking a serious look at - before Lanark values move even higher.
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Listing Details
- Taxes (2026)
- $4,019
- Listed
- September 11, 2026
Price History
Listing history
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Property
- Style
- 2-Storey
- Construction
- Aluminum Siding
- Roof
- Asphalt Shingle
- Foundation
- Block
- Interior
- Separate Hydro Meter, Propane Tank
- Lot Size
- 105 x 60 Feet
Parking
- Garage
- None
- Covered Spaces
- 0
- Total Parking
- 4
Utilities
- Sewer
- Septic
- Heat Source
- Electric
Location & Legal
- Cross Street
- North and George Street
- Parcel Number
- 050360050
- Possession
- Flexible
- Occupancy
- Tenant
Included
- Inclusions
- 4 Fridges, 4 Stoves. 1 Propane Hot Water Tank
Schools
Elementary
- Sacred Heart of Jesus Separate School0.2 km
Catholic · CDSB of Eastern Ontario · 70 students
Grade 6 math: 70% met the provincial standard
- Maple Grove Public School0.5 km
Public · Upper Canada DSB · 160 students
Grade 3 reading: 42% met the provincial standard · Grade 6 math: 10% met the provincial standard
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 K0G
- Population
- 39,862
- Private dwellings
- 19,411
- Median age
- 50.4
- Average household size
- 2.4
- Median household income
- $94,000
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 Lanark Highlands · last 12 months
- Median sold price
- $437,000
- Homes sold
- 104
- Median days on market
- 41
- Sale-to-list price
- 94.6%
Based on 104 recorded sales of residential freehold properties in Lanark Highlands over the last 12 months.
Listed by
RE/MAX HALLMARK REALTY GROUP
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Location
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Mortgage Calculator
$99,800
Estimated Monthly Payment
$2,451
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
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Mortgage: $2,451/mo (20% down, 5.5%)
Taxes: $335/mo · Insurance: $125/mo
Estimates only. Consult a financial advisor.
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