Investor Spotlight – 22 Water Street, Quinte West
Overview of the Property
This off-market duplex in Quinte West offers a solid opportunity for long-term investors. Located at 22 Water Street, the property is a legal duplex with 1,800 sq.ft. of finished space across two self-contained units, making it ideal for rental income generation and low vacancy risk.
- Type: Duplex
- Size: 1,800 sq.ft. total (900 sq.ft. per unit)
- Year Built: 1996
- Zoning: R4
- Parking: Off-street
Unit Breakdown and Rents
The property consists of two units with stable tenancies and solid rent levels, reflecting current market conditions in Quinte West.
- Unit A (Lower): 2 bed / 1 bath – $1,500/month all-inclusive
- Unit B (Upper): 3 bed / 1 bath – $2,200/month + 60% of utilities
For landlords exploring how to structure utility reimbursements effectively, visit our article on recovering utility costs.
Full Financial Analysis
Here’s a breakdown of the financials for 22 Water Street assuming a purchase price of $550,000:
| Metric | Value |
|---|---|
| Down Payment + Closing Costs | $126,500 |
| Gross Monthly Rent | $3,700 + $309 (utilities) |
| Annual Gross Rent | $44,400 |
| Vacancy Rate | 2% |
| Operating Expenses | ~$14,414 (30.5%) |
| Net Operating Income (NOI) | $32,805 |
| Loan Payment (80% @ 5.64%) | $2,537/month |
| Cash Flow (Year 1) | $197/month |
| Cap Rate | ~6% |
| Cash-on-Cash Return | 1.9% |
You can run your own deal math using our Cap Rate Calculator.
What This Deal Tells Us
Even with higher financing costs, properties like this duplex can offer reliable performance. The combination of strong rents, equity appreciation, and utility reimbursements helps maintain a positive outlook.
Learn more about long-term investor strategies in our deep-dive article on real estate deal analysis.
Expert Takeaway
This duplex shows a realistic view of rental property investing in 2025: slim cash flow upfront, but equity growth and financial resilience over time.
Investors focused on professional property management see better margins and long-term stability. We explore that in detail in our guide to property management fees and in our blog on renovations that boost rental income.
Thinking of Buying in Quinte West?
Whether you already own or are looking to invest, Quinte West continues to present stable, rentable inventory. 22 Water Street is an example of a smart, manageable income property for those ready to play the long game.
More insights in these related posts:
- Best Neighborhoods for Rental Investment in Belleville and Trenton
- 2025 Central Ontario Market Timing Guide
- Avoiding Tenant Disputes with Proactive Management
Need help evaluating a deal? Contact Blue Anchor and we’ll help you run the numbers with clarity and confidence.
