Monday, May 30, 2016
Students are looking now for Fall Semester housing
Ottawa features two large universities (Ottawa U and Carleton), Ontario's largest French Language University (La Cite Collegiale) a large college (Algonquin College) and a Catholic, bilingual university (St. Pauls)
Units across campus going for $650-$700 per room per month. Units in Glebe rent for $650-$700(/bed/mth) and in Old Ottawa South, East of Bank St for $575-$650. Without upgrades (kitchen, washroom, furniture) you can expect $550-$625. The further from campus, the lower the month rents. Students generally prefer an all inclusive monthly rent, meaning utilities included in the monthly rental rates.
Most comparable properties sell at a min of $100,000 to $110,000 per bedroom rate, but each property needs to be evaluated separately. This benchmark means a 5 bedroom home should be purchased in the $500,000 to $550,000 range, assuming good condition and location. Please be advised, many properties will require the creation of additional bedrooms through renovation/expansion. The further from campus, the lower the asking price. Generally, the maximum ratio of bedrooms to full bathrooms is 3 to 1, it is preferable to have a better ratio, with an ideal ratio of 2 to 1.
$485,000 - Row home
Property currently has 3 bedrooms and 3 bathrooms. It is close to Ottawa U campus and the new LRT station. There is a large basement family room, which can potentially become two more bedrooms. 66 days on market.
$579,900 – Single family detached home.
Been on market for 81 days. This has three bedrooms above ground and one below as well as 3 bathrooms. It is approximately 9 blocks from Campus. Would have to visit to confirm if a 5th bedroom could be created in the basement.
$499,000 – semi-detached
This is a 3 bedroom and 2 bathroom home. Unfortunately, the second bathroom is a powder room, so it will require a shower installed. The basement is listed as full height, but there appears to be no development in the space.
$509,000 – semi-detached
rented until April 30, 2017 at $2500 monthly plus utilities. Home is four bedrooms and one bathroom. Basement is listed at full height, with no current development.
$549,000 – semi-detached
rented until April 30, 2017 at $2900 monthly plus utilities. Home is five bedrooms and two full bathrooms. Basement is low and shows no potential for future development.
$570,000 – semi-detached
4 bedroom and 2 full bathrooms. Basement listed as full height containing no rooms. Has some distinctive finishes like stained glass and exposed brick.
$554,900 – semi-detached
Five total bedrooms, 3 bathrooms, furniture can be included, been an investment since 1997 and has a gross income of $38,000 with heating/electricity costs of $4,500 annually.
$574,000 – detached
A 3 bedroom and 3 bathroom home, with a full basement and a large basement recreation room which can likely be converted to a couple bedrooms. Registered as a duplex, but currently used as a single family (second floor full kitchen).
$549,900 – semi-detached
A 3 bedroom and 2 bathroom semi in Centertown. Has a basement recreation room that is large and can possibly be converted to two additional rooms. Close to Bronson, easy bus access to Carleton University.
$599,900 – detached
A 4 bedroom and 4 bathroom home separated into three units, Currently fully rented. Details are scarce, very cheap price for a Centertown triplex. R4 zoned, allows a triplex under city rules.
$425,000 – row
A 4 bedroom and 2 bathroom property. Only 1 full bathroom and a powder room. Near new LRT station. Pretty much equidistant to Carleton and Ottawa U.
$519,900 – semi-detached
A 3 bedroom and 1 bathroom home with a large basement which is full height. In the Glebe and not far from Bronson, so easy bus access to campus.
$479,000 – detached
A 3 bedroom, 1 bathroom home. Property is zoned R3, which allows for triplex development. 6 minute walk to the LRT station.