Investing in Mercier–Hochelaga-Maisonneuve
Rental potential in Mercier–Hochelaga-Maisonneuve
The Green Line, the nearby Hôpital Maisonneuve-Rosemont and the proximity of the port support rental demand. The housing stock is made up mostly of plexes and small buildings, with commercial arteries such as promenade Ontario. The rules of the Tribunal administratif du logement govern rents and must be factored into the analysis. Each building requires a study of its actual income and expenses.
How we analyze a plex
Gross income multiplier
The asking price compared with the building's income and with plexes sold in the area.
Net income
Actual rents minus taxes, insurance, energy, maintenance and vacancy: what you really keep.
Comparable sales
Plexes recently sold in Mercier–Hochelaga-Maisonneuve and the surrounding area, and the price per door, adjusted for the condition of the building.
Municipal assessment
The relationship between the price and the municipal assessment, to help frame an offer.
Before buying a plex in Mercier–Hochelaga-Maisonneuve
- The current leases and the renewal notices for each unit.
- Vacant units and market rents in the area.
- The condition of the building: roof, windows, plumbing, electrical and foundation.
- The number of dwellings allowed by the zoning.
- Municipal and school taxes, insurance and energy.
- Financing: the down payment varies depending on the number of units and whether you live in the building.
For an $800,000 plex in Mercier–Hochelaga-Maisonneuve, the welcome tax is approximately $11,349. Calculate it for your price →