71 Stephen Street
901 - Smiths Falls, Smiths Falls, K7A 1K7
FOR SALE
$499,900
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3 + 2
BEDROOMS 2
BATHROOMS 1 + 1
KITCHENS 7 + 7
ROOMS X12873084
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Property Description
Vacant upper unit, tenanted lower unit. Good upside potential here. This up/down duplex offers 3 bedrooms upstairs with a 4- piece bathroom, a kitchen, laundry closet, a dining area, a living room and mudroom entrance. The lower level adds a second self-contained suite with 2 more bedrooms, a 2nd kitchen, another living room and dining area plus a 4- piece bathroom. The home has 2 100-amp breaker panels, each unit with its own meter. Steel roofing (2022). One new hot water tank in 2014 and one in 2024. This is a great opportunity to live in and rent one suite or rent both units. An easy managed lot with parking on the side. Lower suite is currently tenanted and is being sold with a Buyer assuming the tenancy. Tenant paying $1100/month plus Hydro (heat) on a 1year lease through to Sept 2026. Good sized yard. Parking for 4 vehicles. Steel roofing too. Note: Photos available only for the upper vacant unit. Lower level tenant is good and tidy but requested privacy.
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Property Features
Carpet Free, Separate Heating Controls, Separate Hydro Meter, Water Heater Owned, Private
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Property Details
Address
71 Stephen Street
Community
City
Postal Code
K7A 1K7
Property Type
Duplex, Duplex
Zoning
R3 Residential
Lot Size
50' x 110'
Taxes
$4,123 (2025
Basement
Apartment, Finished
Heat Type
Baseboard
Heat Source
Electric
Water
Municipal
Parking Spaces
4
Garage Type
None
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Listing contracted with Re/Max Affiliates Marquis
This is about as close to "brand new" as an existing property gets. Over the past 4-5 years, 9 Kent St has been rebuilt from the brick out - new framing, spray foam insulation, electrical, plumbing, HVAC, windows, doors, roof, and both kitchens and bathrooms. What you're buying isn't a renovation project; it's the result of one, already done! The layout works as well as the finishes do. The main floor unit offers a comfortable 1-bedroom, 1-bath layout, while the second floor holds a bright 2-bedroom, 1-bath space - both units carrying the same clean, low-maintenance laminate flooring throughout. Whether you're looking to occupy one unit and offset your mortgage with the other, or run it as a full investment property, the separation and flow between units make either scenario easy to manage. Step outside and the good news continues. The backyard is genuinely set up for living, not just sitting empty, but a patio with a gazebo that gives both units a place to unwind, there's a storage shed for the overflow gear every household collects, and rear parking takes the guesswork out of where tenants or guests will leave their cars. For investors, this is a rare find: a fully updated, low-maintenance duplex with major systems already handled, meaning your first years of ownership can be about cash flow, not capital expenditures. For owner-occupants, it's a chance to live in one unit with rental income covering a meaningful chunk of your monthly costs.
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71 Russell Street East offers a flexible opportunity for investors and owner-occupants alike. Whether you're looking to add to your portfolio, purchase your first income property, or explore the possibility of living in one unit while benefiting from rental income from the other, this duplex offers both flexibility and future potential. The property features two 2-bedroom, 1-bath units with existing tenants already in place, making it well suited to continued investment use while also presenting future owner-occupancy possibilities. Buyers entering the market may appreciate the opportunity to combine homeownership with income generation in one property. Recent updates provide added peace of mind, including a new roof completed in 2019 with 40-year shingles, along with two gas furnaces updated in 2017 and 2024. The property also offers ample tenant storage space and parking for three vehicles. Conveniently located close to schools, shopping, and everyday amenities, 71 Russell Street East presents an opportunity to step into the market with flexibility already built in, whether your goals are investment, homeownership, or a combination of both.
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