1 Melissa Street, Parry Sound, ON P2A 2R4
Parry Sound · Near Hwy 400 to Bowes St to Forest St to Parry Sound Rd, right to Melissa St (left) on corner · View map
About this home
Exceptional 4 Plex Investment Opportunity in the thriving Town of Parry Sound. Fantastic offering at an 8+ cap rate. This well maintained, purpose built fourplex offers a rare combination of strong income potential, low maintenance ownership, and long term investment stability in the heart of Northern Ontario cottage country. Featuring three spacious 3 bedroom units and one 1 bedroom unit, all separately metered for hydro, this solid asset is ideally positioned close to the hospital, vibrant downtown core, and the breathtaking shores of Georgian Bay. Built in 1991 with notable updates including windows and shingles, this property offers reliable cash flow with established long term tenants already in place. Ample front and rear parking further enhances tenant convenience and desirability. An outstanding opportunity for investors seeking to expand their portfolio with a high performing multi residential asset in a growing and highly desirable community. The building has total 4 units. 3 units are 3 bed room with 13x13 Hall and kitchen; 10x13 Bedroom 1 ; 9.6x12 bedroom 2 9.6x10 bedroom 3. Three units fully renovated in June 2025 with high-quality modern finishes (1) Vinyl flooring installed throughout all units (2) Brand new plumbing and fixtures (3) New kitchen upgrades including cabinets, fridge, stove, and fittings (3) Newly renovated bathrooms with contemporary finishes. Freshly painted interiors throughout (4) New washer and dryer installed (2025) (5) Tenants currently in place (6) All utilities paid by tenants, ensuring efficient operating costs (7) Each unit features a separate private entrance (8) Ample parking with 2- car parking available per unit. One unit is one bedroom: - The tenant is planning to move soon. Can be easily converted to 2 bedroom unit. Increasing rental value.
The home
- Type
- Fourplex
- Style
- 2-Storey
- Square footage
- 3000-3500 sq ft
- Bedrooms
- 10
- Bathrooms
- 4
- Kitchens
- 4
- Rooms
- 19
- Basement
- None
- Faces
- West
- Approximate age
- 31-50 years
Ownership & fees
- Ownership
- Freehold
- Monthly condo fee
- None
- Exterior
- Brick
Heating & cooling
- Heating fuel
- Electric
- Heating type
- Baseboard
- Fireplace
- No
Garage & parking
- Driveway spaces
- 7
- Total parking
- 7
- Parking features
- Available
Taxes & other
- Property taxes
- $5,215/yr
- Tax year
- 2025
- Occupancy
- Tenant
- Possession
- 60-90 days
- Cross street
- Hwy 400 to Bowes St to Forest St to Parry Sound Rd, right to Melissa St (left) on corner
- Neighbourhood
- Parry Sound
More
- Price per sq ft
- ~$292 (at 3,250 sq ft)
- MLS® number
- X13533194
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The home and its surroundings
- Hospital
- School
- Mortgage
- Property tax
- Maintenance fee
Cash needed to close
Estimates only, using Canadian semi-annual compounding, Ontario land transfer tax. Mortgage default insurance is added when you put down less than 20%. Your lender and lawyer will confirm exact numbers.
1 Melissa Street, Parry Sound, ON P2A 2R4
Parry Sound · Near Hwy 400 to Bowes St to Forest St to Parry Sound Rd, right to Melissa St (left) on corner
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Listing history for 1 Melissa Street
See what this home and others at the same address were listed for, what they sold for, and how long it took.
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Frequently asked questions about 1 Melissa Street
Answers come straight from this home’s MLS® listing.
How much is 1 Melissa Street listed for, and what would it cost each month?
1 Melissa Street is listed for $950,000. With 20% down ($190,000), the mortgage payment would be roughly $3,832 a month at 4.5% over 30 years. Add property tax and the estimate comes to about $4,267 a month, all in. That figure is an illustration, not a quote.
Is 1 Melissa Street freehold or a condo, and is there a monthly fee?
1 Melissa Street is a fourplex in Parry Sound. Ownership is freehold: you own the home and the lot. There is no monthly condo fee, so the roof, windows, driveway, snow and lawn are yours to look after.
How many bedrooms and bathrooms does 1 Melissa Street have?
1 Melissa Street has 10 bedrooms and 4 bathrooms. The listing gives the style as 2-storey.
Does 1 Melissa Street have a garage and parking?
The listing does not show a garage. The driveway adds 7 spaces. In total the listing counts 7 parking spaces.
Does 1 Melissa Street have a finished basement?
No. The listing shows no basement for this home.
What style of home is 1 Melissa Street?
1 Melissa Street is a fourplex. A multiplex holds two or more separate units under one roof, often bought to live in one unit and rent the others.
How big is 1 Melissa Street?
The listing puts the home between 3,000 and 3,500 sq ft. The board reports a range rather than an exact figure, and it usually leaves out the basement.
How is 1 Melissa Street heated and cooled?
Heating is baseboard (electric). The listing does not show air conditioning.
What are the property taxes for 1 Melissa Street?
Property taxes are $5,215 a year (2025), or about $435 a month.
Where is 1 Melissa Street?
1 Melissa Street is in Parry Sound. The nearest main intersection is Hwy 400 to Bowes St to Forest St to Parry Sound Rd, right to Melissa St (left) on corner. The postal code is P2A 2R4.
Is 1 Melissa Street still for sale?
Yes. It is an active listing (MLS® X13533194). Listings here update from the board through the day and come down once a home sells.
What are similar properties near 1 Melissa Street asking?
Similar properties for sale nearby right now include 12 Gibson Street at $1,200,000 (6 bed), 30 Hanna Road at $899,000 (5 bed) and 5 Avery Court at $839,000 (5 bed). These are asking prices, not sold prices. The Sold history tab shows what homes at this address went for.
What have homes at 1 Melissa Street sold for?
Recent sales, leases and expired listings for this home and others at the same address are in the Sold history tab, with the price and date of each. It is free for members.
How do I book a showing at 1 Melissa Street?
Pick a day and time with Book a Tour on this page. Tours are free, with no obligation, in person or by video. You can also call or text 647-931-3923.
Have a different question? Ask about this home and get an answer, usually within the hour.
Similar properties nearby
More properties for sale near Parry Sound, picked by style, size and price.
Fourplex$1,200,00012 Gibson Street, Parry Sound6 bed · 4 bath · Parry SoundCourtesy of: ROYAL LEPAGE TERREQUITY REALTYView home →
Triplex$899,00030 Hanna Road, Parry Sound5 bed · 3 bath · Parry SoundCourtesy of: Royal LePage Team Advantage RealtyView home →
Detached home$839,0005 Avery Court, Parry Sound5 bed · 3 bath · Parry SoundCourtesy of: Revel Realty IncView home →Courtesy of: ROYAL LEPAGE TERREQUITY REALTY
Listing information comes from the Toronto Regional Real Estate Board through PropTx and is deemed reliable but is not guaranteed accurate. It is provided for consumers' personal, non-commercial use. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA.
*Estimated monthly cost assumes 20% down, a 4.5% rate and a 30-year amortization, plus property tax. For illustration only.