Four units for $560,000: $140,000 per door. With $43,800 in gross revenue, the gross rent multiplier is 12.8. Those are the two ratios that place a plex before any showing, and they come straight from the published figures.
We have another listing in the same town, and the comparison is instructive: the duplex at 108 Rue de Westmount is $200,000 per door with a multiplier of 13.6. This one costs less per unit and fewer years of revenue. That is the usual advantage of more doors, and it holds here between two buildings in the same market.
One precision on revenue. The Centris sheet enters $43,800 under potential gross revenue, and the seller's description says the building currently generates it. Both come from the seller. The leases are what count, and we request them before any offer. Without the actual expense record there is no credible net figure, and we do not publish numbers we have not verified. What is known: taxes are $5,287 a year, or 12.1% of gross revenue.
The mix is balanced: two 4½ and two 5½. The main unit has 5 rooms, 2 bedrooms and one bathroom. The seller states that three of the four units have been extensively renovated.
Each unit has its own entrance. That is not a detail in a four-unit building: it cuts common areas to maintain, neighbour friction and insurance questions.
Two big items were just done: the roof redone in 2024 and two water heaters replaced in 2024 and 2025. On a 1930 building, a new roof changes the expense profile for the next ten years.
The building is 96 years old. The work announced is a seller's statement, not an inspection finding: invoices and warranties should be requested.
On a building of this era, three items get checked before committing: the electrical system and wiring in each of the four units, the plumbing and its original materials, and the state of the structure and foundations. The fourth unit, the one not listed as renovated, deserves particular attention: that is where the budget sits, and also the upside.
The occupancy date is according to the leases. You are not buying an empty building: you are buying one with its four tenants and its rents in place. Leases transfer to the new owner, and increases follow the Tribunal administratif du logement's rules.
If the plan is to live in one of the units, repossession by an owner-occupant has its own conditions and timelines: see buying a plex as an owner-occupant. The general framework is in buying a plex in Quebec in 2026.
The 2022 roll lists the building at $403,100, of which $111,900 is land. The asking price is 38.9% above. The municipal assessment of a rental building follows its own logic, not the rent multiplier.
On transfer duty, let us be precise about what is certain and what is not. Up to $500,000 the grid is the same across Quebec and gives $5,610.50. Above that, a municipality may raise the rate to as much as 3%. The Town of Cowansville publishes no rate on its website, referring instead to the Act respecting duties on transfers of immovables. So the bill falls between $6,510.50 (provincial grid at 1.5% on the $60,000 portion) and $7,410.50 (if the Town applied the 3% maximum). The exact amount is confirmed with the Town or the notary; we make that check with you.
Cowansville counted 15,234 residents at the 2021 census, up 12% since 2016. For a rental owner that is the figure that counts: more households, so more demand.
The address is near a CEGEP, which adds a tenant pool distinct from the family market. Nearby: daycare and CPE, a park, a bike path, primary and secondary schools, downhill and cross-country skiing, snowmobile and ATV trails.
For anyone who wants four doors at once rather than two, with the big roof work already paid for by the seller. For an investor who prefers a building already full to one that needs filling. And for anyone who sees the fourth, un-renovated unit as room to work rather than a problem.
Before making an offer, five documents are worth the detour: the four leases and their renewal notices, the expense record for the last three years, the invoices and warranties for the 2024 roof, the tax and energy bills, and an inspection by someone who knows pre-war construction. We obtain them and read them with you. Tell us about your project.
Four rented units, $43,800 in gross revenue.
Roof redone in 2024, three units renovated, separate entrances. An 8,414 sq ft lot, six parking spaces.
Description, chiffres réels et détails, envoyés par courriel.
Prix : $560,000. Ajustez la mise de fonds, le taux et l'amortissement.
