Each month we choose a new income property and show you the Rental Income, Operating Expenses, downpayment, mortgage payment, Cap Rates and more on the property. We dig into the financial breakdown to see what the Cash Flow and ROI are.
7 Unit Building in Vanier, sold in September 2021
This building was listed for $1,490,000 sold for $1,495,000. It was a Legal 7 unit building that was fire retrofit.
The Cap Rate was a decent 4.62% and the building shows a positive cash flow of $13,713 per year with a 35% downpayment of $514,500.
These statistics are for the last 90 days, up till July 19th 2021, and they cover all of the neighbourhoods that are within the South End of Ottawa.
How many homes Sold in Ottawa’s South End?
There were a total of 664 home sales in all of Ottawa’s South End Neighbourhoods, versus 502 in 2020, this is an increase of 32%.
Are House Prices up or down in South Ottawa?
The average price over the past 90 days is $647,930, versus $525,994 last year, that is up by 23.2%
How long are homes taking to sell in South End Ottawa?
Homes are selling Faster this year. It took homes 12 days to sell this year, versus 18 days for the same time-frame last year.
Where were the highest and lowest sales in South End?
The highest sales price was a Detached bungalow home in the Pineglen/ Country Place Neighbourhood that sold for $2,200,000 and the lowest priced sale was a One Level Apartment in the Riverside Park/ Mooney’s Bay Neighbourhood that sold for $214,500.
Click on any South Ottawa neighbourhood to see more information as well as the history of house prices for that area. DN = District Neighbourhood Code.
How much are the property taxes, or how much will the tax increase be next year?
We all get this question especially from "out of towners".
It looks like another year of 3% in 2022. I just came across this article in the Citizen and thought I'd send you more information about taxes in the Ottawa area.
In the past two years we've frequently been asked if tax rates will soar due to housing prices doing the same. The answer is "no".
The province determines value, (assessment) and it's the city who levies taxes and determines the rate (mill rate).
FYI, we should have had new assessed values in 2020 but the Covid 19 pandemic prevented that.
How does MPAC establish the assessed value of my property?
MPAC analyzes real estate market information from similar types of property in your area to establish your property's value.
How exactly are residential property taxes calculated?
Residential property taxes are calculated using your assessed value, the municipal tax rate, and the education tax rate, which is set by the Province of Ontario.
Will the significant rise in real estate prices increase my property taxes?
A significant increase in property value does not automatically translate to a property tax increase. Municipalities cannot benefit from market value increases. The City of Ottawa adjusts the baseline tax rates downward to account for overall assessment increases and collect the same revenues.
Comparing House Prices and how they've changed in Far West Ottawa and Nepean
These stats are for the last 90 days till June 15, 2021 and we are comparing with the same period in 2020. Find out which area had the most sales, where the highest priced sales were and which one had the highest increase in price.
Most Sales: Bells Corners and area had 56 homes sell
Highest Selling Price: Crystal Beach and Crystal Bay at 1,200,548
Largest Price Increase: Tanglewood/Manordale area with a 59.4% increase
Fastest sales: Queensway Terrace South/ Ridgeview areas are selling in just 5 days
More detailed statistics for each neighbourhood. DN = District Neighbourhood Code.
Bayshore/Greenbelt/Lakeview Park (DN 7003,7004,7101)
The average house price in June 2021 was $510,273, an increase of 3.7% over June 2020. There were 11 home sales in Bayshore versus 5 last year and it took an average of 9 days for homes to sell versus 17 days last year.
Bells Corners (DN 7801,7802,7803,7804,7805,7807)
The average house price in June 2021 was $478,743, an increase of 12.6% over June 2020. There were 56 home sales in Bell’s Corners versus 30 last year and it took an average of 8 days for homes to sell versus 10 days last year.
Britannia (DN 6101,6102,6103,6201)
The average house price in June 2021 was $553,641, an increase of 39.5% over June 2020. There were 14 home sales in Britannia versus 11 last year and it took an average of 10 days for homes to sell versus 29 days last year.
Crystal Beach/Crystal Bay (DN 7001,7002)
The average house price in June 2021 is $1,200,548, an increase of 76.6% over June 2020. There were 14 home sales versus 11 last year and it took an average of 11 days for homes to sell versus 47 days last year.
Centrepointe & Briargreen (DN 7607 & 7602)
The average house price in June 2021 is $740,139, an increase of 36.1% over June 2020. There were 24 home sales versus 11 last year and it took an average of 7 days for homes to sell versus 27 days last year.
Craig Henry/Woodvale (DN 7604)
The average house price in June 2021 was $566,694, an increase of 23.8% over June 2020. There were 20 home sales versus 18 last year, and it took an average of 10 days for homes to sell versus 15 last year.
Leslie Park (DN 7601)
The average house price in June 2021 was $523,488, an increase of 26.3% over June 2020. There were 21 home sales versus 12 last year, and it took an average of 7 days for homes to sell versus 10 last year.
Queensway Terrace South/Ridgeview (DN 6303)
The average house price in June 2021 was $560,725, an increase of 27.4% over June 2020. There were 20 home sales versus 8 last year and it took an average of 5 days for homes to sell versus 13 last year.
Bruce Frm/Graham Pk/Qualicum/Bellands (DN 7102)
The average house price in June 2021 was $1,050,825, an increase of 47.9% over June 2020. There were 10 home sales versus 5 last year, and it took an average of 8 days for homes to sell versus 11 days last year.
Queensway Terrace North (DN 6203)
The average house price in June 2021 was $623, 450, an increase of 13.9% over June 2020. There were 18 homes sales versus 10 last year, and it took an average of 8 days to sell versus 19 days last year.
Redwood Park (DN 6301)
The average house price in June 2021 was $421,900, an increase of 14.9% over June 2020. There were 13 home sales versus 10 last year, and it took an average of 7 days for homes to sell versus 9 days last year.
Sheahan Estates, Trend Village, Arlington Woods (DN 7603/7605)
The average house price in June 2021 was $655,919, an increase of 32.8% over June 2020. There were 31 home sales versus 10 last year, and it took an average of 16 days for homes to sell versus 21 days last year.
Tanglewood/Manordale (DN 7606/7501)
The average house price in June 2021 was $587,133, an increase of 59.4% over June 2020. There were 21 home sales versus 13 last year and it took an average of 7 days to sell versus 13 days last year
Whitehaven (DN 6204)
The average house price in June 2021 is $951 752, an increase of 26.9% over June 2020. There were 4 home sales versus 1 last year, and it took an average of 15 days to sell versus 26 days last year.
Woodroffe/Western Parkway (DN 5101,6001,6002)
The average house price in June 2021 was $600,572, an increase of 52.4% over last June. There were 45 home sales versus 19 last year, and it took an average of 13 days to sell versus 29 days last year.
If you want to see even more stats for any other larger area as well as the history of prices, check out our Neighbourhood Market Reports
Compare house prices and how they've changed in Ottawa's West end Neighbourhoods.
These stats are for the last 90 days till May 28th, 2021 and we are comparing with the same period in 2020. Find out which area had the most sales, where the highest priced sales were and which one had the highest increase in price.
Most Sales: Westboro and Hampton Park had 92 home sales
Highest Selling Price: Glabar Park and McKellar Heights Avg. Price was $1,144,527
Largest Price Increase: Parkwood Hills and areas saw 50% increase in average prices
Fastest sales: Parkway Park homes sold in 6 days on average
Comparing house prices in East End Ottawa Neighbourhoods
These stats are for the last 90 days till May 28th, 2021 and we are comparing with the same period in 2020. Find out which area had the most sales, where the highest priced sales were and which one had the highest increase in price.
Most Sales: Beacon Hill North with 46 homes sold
Highest Selling Price: Rockcliffe Park again at $1,190,560
Largest Price Increase: Carson Grove saw prices jump 58%
Fastest sales: Blackburn Hamlet listings sold in just 5 days
Mortgage Market Update and News about the Qualifying Stress Test rate increase
Eric Fabien from OttawaMortgaeShop.com gives us an update regarding the new stress test for qualifying for a mortgage, as well as giving us the current rates for a variable and fixed rate mortgage.
Variable Rate Mortgage Today: 1.35%
5 year Fixed Rate Mortage Today: 1.94%
Time Stamps:
0:00 Intro
0:15 Mortgage Rate Increases for fixed rates, variable still aggressive
0:55 Rumours of the Qualifying rate moving up to 5.25%, from 4.79%
1:24 The impact of the new stress test on a $400,000 mortgage
2:30 Impact on a $500,000 mortgage scenario
2:43 Impact on a $600,000 mortgage scenario 2:55 Summary
