For sale · MLS® 1302520
164 Main Street
Norris Point, NL, A0K3V0
List price
$299,000
About this propertyMLS® 1302520
INVESTMENT OPPORTUNITY IN NORRIS POINT! Welcome to an excellent income-producing property in the heart of Norris Point, located within the spectacular Gros Morne National Park! This property offers two residential rental units plus a commercial space, providing multiple opportunities for rental income or future development. It Features: 2-bedroom residential unit / 1-bedroom residential unit / Commercial space – ideal for a business, office, retail space, or potentially converting to additional rental units (subject to approvals) There is over 1,700 sq. ft. per level and the 2nd level features the rentals with a Common laundry area Its Centrally located in Norris Point and you are surrounded by the natural beauty and tourism activity of Gros Morne National Park With its fantastic location and flexible layout, this property is an ideal investment for someone looking to generate rental income while taking advantage of one of Newfoundland’s most popular tourism destinations. Live in one unit, rent the others, operate a business, or explore the possibilities! The potential here is worth a look. Call today for more details or to arrange a viewing! (id:56688)
Specifications
Property details
Room by room
Rooms
| Second level | Not known Not known Not known Not known Not known Laundry room Not known Not known Not known Not known Not known Not known | 10.5 x 10.8 4pc 5.9 x 10.4 10.1 x 10.4 13.1 x 16.8 5.11 x 6.3 11.3 x 13.10 7.11 x 11.3 4pc 4.5 x 7.2 6.4 x 8.9 8.11 x 17 |
| Basement | Other | 40 x 40 |
| Main level | Office | 40 x 40 |
The essentials
Location, air, flood & taxes
Elevation
25 m above sea level
Air quality now
AQHI 1 · Low risk
Corner Brook station · updated 2:00 a.m.
Property tax
$1,089 / year
≈ $91 / month · assessment year 2026
Nearby & drive routes
4 places shown · OpenStreetMap · OSRM
Health 1
Groceries 2
Cafés 1
Plan ahead
Calculators & neighbourhood
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Plan ahead
Mortgage & investment calculator
Estimated monthly payment
$91/mo
Principal & interest $0 + property tax $91 per month
Financing breakdown
Rental math
Investment calculator
Monthly cash flow
$-373
NOI / month
$-373
Cap rate
-1.50%
Gross yield
0.00%
| Line item | Monthly | Yearly |
|---|---|---|
| Gross rent | $0 | $0 |
| Mortgage | $0 | $0 |
| Property tax | $91 | $1,089 |
| Expenses | $283 | $3,396 |
| Vacancy | $0 | $0 |
| Management | $0 | $0 |
| Cash flow | $-373 | $-4,476 |
| NOI | $-373 | $-4,476 |
Flip rule of thumb: buy at ≤ 70% of ARV minus repair costs.
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Keller Williams Platinum Realty
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