3-5 Mary Street
Smiths Falls, ON
- 7 bed
- 4 bath
- approx. 2500-3000 sqft
- Duplex
INVESTOR OPPORTUNITY! Income-producing two-unit property offering strong current rental income, substantial recent capital investment and future value-add potential. The two fully renovated units generate $4,375/month in current gross rent, or $52,500 annually, with 0% current vacancy/credit loss and a history of rents being paid on time or early. Improvements and repairs over the past 3-4 years, including fully renovated units, new appliances, replacement windows, newer furnaces, plumbing improvements, basement sump pumps and additional updates.The 4-bedroom, 1.5-bath unit at 3 Mary features a fenced backyard, parking, unfinished basement and furnace installed in 2024. The 3-bedroom, 1.5-bath unit at 5 Mary offers a large fenced backyard, generous driveway parking, unfinished basement and furnace installed in 2024. Tenants pay gas and hydro directly, while lawn/yard maintenance and snow removal are tenant responsibilities.The property offers approximately $52,500 in current annual gross rental income and a 10.50% gross rental yield based on the 2024 appraised value of $500,000. Potential future upside may include rental optimization, additional property improvements and investigation of severance/land-use potential, subject to municipal approvals and due diligence.An excellent opportunity for investors seeking an established income-producing property with significant recent improvements and potential for further value creation.
Listing Details
- Taxes (2026)
- $3,919
- Listed
- October 8, 2026
Price History
Property
- Style
- 2-Storey
- Construction
- Metal/Steel Siding
- Roof
- Asphalt Shingle
- Foundation
- Stone
- Interior
- Storage
- Lot Size
- 66 x 132 Feet
Parking
- Garage
- None
- Covered Spaces
- 0
- Total Parking
- 6
Utilities
- Sewer
- Sewer
- Heat Source
- Gas
Location & Legal
- Cross Street
- Main St E & William St E
- Zoning
- R3
- Parcel Number
- 052710081
- Possession
- Other
- Occupancy
- Tenant
Included
- Inclusions
- 2 Refrigerators , 2 Stoves , 2 Washers , 2 Dryers ,
- Rental Items
- Hot Water Tank on 3 Mary St.
Schools
Secondary
- St. James Catholic Education Centre High School0.2 km
Catholic · CDSB of Eastern Ontario
- St. Luke Catholic High School1.7 km
Catholic · CDSB of Eastern Ontario · 110 students
Grade 10 literacy: 19% met the provincial standard
- Smiths Falls District Collegiate Institute1.8 km
Public · Upper Canada DSB · 700 students
Grade 10 literacy: 79% met the provincial standard
Elementary
- St Francis de Sales Separate School0.2 km
Catholic · CDSB of Eastern Ontario · 430 students
Grade 3 reading: 61% met the provincial standard · Grade 6 math: 31% met the provincial standard
- Duncan J Schoular Public School0.5 km
Public · Upper Canada DSB · 380 students
Grade 3 reading: 50% met the provincial standard · Grade 6 math: 15% met the provincial standard
- Chimo Elementary School1.7 km
Public · Upper Canada DSB · 395 students
Grade 3 reading: 82% met the provincial standard · Grade 6 math: 54% 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 K7A
- Population
- 17,575
- Private dwellings
- 7,814
- Median age
- 46.8
- Average household size
- 2.3
- Median household income
- $74,500
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 Smiths Falls · last 12 months
- Median sold price
- $379,500
- Homes sold
- 155
- Median days on market
- 36
- Sale-to-list price
- 96.7%
Based on 155 recorded sales of residential freehold properties in Smiths Falls over the last 12 months.
Rooms
3-piece on Second, 3-piece on Second, 2-piece on Second, 2-piece on Second
Second
- Bathroom
- Bathroom
- Bedroom
- Bedroom
- Bedroom 2
- Bedroom 2
- Bedroom 3
- Bedroom 3
- Bedroom 4
Main
- Dining Room
- Dining Room
- Family Room
- Family Room
- Kitchen
- Kitchen
- Laundry
- Utility Room
- Utility Room
Listed by
ROYAL LEPAGE PERFORMANCE REALTY
Walk Score
Walk Score is unavailable for this address right now.
Location
Street View
Mortgage Calculator
$101,980
Estimated Monthly Payment
$2,505
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: $2,505/mo (20% down, 5.5%)
Taxes: $327/mo · Insurance: $127/mo
Estimates only. Consult a financial advisor.
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