58 Reid Street
St. John's, NL, A1E2K6
5 Beds | 2 Baths
$315,000
About the property (MLS: 1286748):
Welcome to 58 Reid Street, a registered two-apartment home with incredible potential, located in a quiet west-end neighbourhood just minutes from Bowring Park, the Village Mall, and major bus routes. The main unit features three spacious bedrooms and one full bath. While it is in need of cosmetic updates, it offers a solid layout and an excellent opportunity for customization. The lower-level apartment has been recently remodelled, featuring two bedrooms, one full bath, and is partially furnished—a turnkey option for rental income or extended family living. The basement level, formerly used as an in-law suite, is above ground and currently roughed in for a one-bedroom, one-bath unit, offering the flexibility to restore it as an additional living space. It can be accessed from both the upper and lower units, giving future owners the ability to adapt the layout to suit their needs. Notable updates include new boilers (lower unit: 2021; upper unit: June 2025) and shingles replaced in 2012. Both the main unit and apartment enjoy large private patios overlooking a mature garden, perfect for outdoor living. The property also features separate driveways for each unit, enhancing privacy and convenience. Please refer to the Property Disclosure Statement for detailed information on the lower-level renovations. Whether you're an investor, multi-generational family, or savvy buyer looking to add value, this home offers space, flexibility, and opportunity in a desirable location. As per Seller Direction there will be no conveyance of offers prior to 12pm June 24th. (id:56688)
Property Details
Listing ID: 28500140
Address: 58 Reid Street, St. John's, Newfoundland & Labrador, Canada A1E2K6
Status: Active
Last updated: 19 days ago ( Jun 22, 2025 )
Year Built: 1969
Property Type: Single Family
Structure Type: Two Apartment House
Ownership Type: Freehold
Beds: 5
Baths: 2
1/2 Baths: 0
Heating: Electric
Sewer: Municipal sewage system
Flooring: Mixed Flooring
Living Area Total: 2,232 square feet
Price per sq ft: $142
Tax Annual Amount: $2,202
Garage? No
Attached Garage? No
Carport? No
Open Parking? No
Waterfront? No
Pool? No
Water Source: Municipal water
Foundation Details: Poured Concrete
Heating: Electric
Flooring: Mixed Flooring
Exterior Features: Vinyl siding
Common Interest: Freehold
Number of photos available: 31
Rurl
Coordinates: [47.526926, -52.757051]
Rooms
| Lower level | Bath (# pieces 1-6) Not known Not known Not known Not known Laundry room | 4 pcs 11.7 x 12.0 null 11.6 x 12 null 10.1 x 12.1 null 12.10 x 16.1 null 8.10 x 12.0 null |
| Main level | Bath (# pieces 1-6) Bedroom Bedroom Primary Bedroom Kitchen Eating area Living room | 4 pcs 8.6 x 12.6 null 8.0 x 12.7 null 13.11 x 12.2 null 9.1 x 12.7 null 8.3 x 12.7 null 17.4 x 17.1 null |
Basic Calculator
First Mortgage: $252,000
Mortgage insurance premium: $0
Total Financing: $252,000
Rough closing fee (1.5%): ~ $4,725
Total downpayment with estimated closing fee: $67,725
Investment Calculator:
| Monthly | Yearly | |
|---|---|---|
| Gross Revenue | $2,456 | $29,472 |
| Gross rental income (income/principal ratio) | 0.780% | 9.356% |
| Mortgage | $0 | $0 |
| Monthly Expenses | $394 | $4,728 |
| Vacancy | $123 | $1,474 |
| Management Fee | $197 | $2,358 |
| Expense / Income Ratio | 16.04% | 16.04% |
| Cash Flow | $1,743 | $20,916 |
| Net Operating Income (NOI) | $1,743 | $20,916 |
| Capitalization Rate | 0.55% | 6.64% |
