98 North Street, Lanark Highlands, ON K0G 1K0
919 - Lanark Highlands (Lanark Village), Lanark Highlands · Near North and George Street · View map
About this home
Excellent opportunity to own a solid income-producing 4-plex in Lanark, generating $56,400 in gross annual rental income. The property consists of four rental units. The 1st-floor 2-bedroom apartment rents for $1,350 per month, while the 2nd-floor 1-bedroom apartment rents for $1,200 per month. There are also two 2-bedroom apartments occupying the 1st and 2nd floors, renting for $650 and $1,500 per month respectively. That gives the property a total rental income of approximately $4700 per month, or $56,400 annually. The annual operating expenses are very reasonable. Property taxes are $4,019.07 per year, insurance is $3,520, hydro is $600, and propane is $1,400, total annual expenses to approximate $9,539.07. There are also several desirable features that make this property attractive from both an investment maintenance standpoint. The building has a steel roof, copper wiring with breaker panels, hardwood floors, a newer water pressure tank, and a full basement that provides plenty of storage space. The property uses a propane hot-water tank, and all tenants pay their own hydro and heating costs, helping to keep the owner's operating expenses down. Lanark is approximately 45 minutes from downtown Ottawa, 10 miles north of Perth, and about 20 minutes west of Carleton Place. The community offers the everyday amenities tenants need, including a grocery store, gas station, library, town hall, pizzeria, chip stands, and more. Lanark is also attracting increasing attention from Ottawa buyers looking for more affordable real estate and income-producing properties outside the city. For investors looking for cash flow, affordability, and long-term potential, this is a property worth taking a serious look at - before Lanark values move even higher.
The home
- Type
- Fourplex
- Style
- 2-Storey
- Square footage
- 2500-3000 sq ft
- Bedrooms
- 6
- Bathrooms
- 4
- Kitchens
- 4
- Rooms
- 12
- Basement
- Unfinished, Other
- Lot size
- 105 x 60 ft
- Faces
- North
Ownership & fees
- Ownership
- Freehold
- Monthly condo fee
- None
- Security
- Smoke Detector
- Exterior
- Aluminum Siding
Heating & cooling
- Heating fuel
- Electric
- Heating type
- Baseboard
- Fireplace
- No
Garage & parking
- Driveway spaces
- 4
- Total parking
- 4
- Parking features
- Private
Taxes & other
- Property taxes
- $4,019/yr
- Tax year
- 2026
- Occupancy
- Tenant
- Possession
- TBA
- Cross street
- North and George Street
- Neighbourhood
- 919 - Lanark Highlands (Lanark Village)
More
- Price per sq ft
- ~$181 (at 2,750 sq ft)
- MLS® number
- X13773884
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The home and its surroundings
- Separate Hydro Meter
- Propane Tank
- Public Transit
- School
- Library
- Rec./Commun.Centre
- 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.
98 North Street, Lanark Highlands, ON K0G 1K0
919 - Lanark Highlands (Lanark Village), Lanark Highlands · Near North and George Street
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Listing history for 98 North 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 98 North Street
Answers come straight from this home’s MLS® listing.
How much is 98 North Street listed for, and what would it cost each month?
98 North Street is listed for $499,000. With 20% down ($99,800), the mortgage payment would be roughly $2,013 a month at 4.5% over 30 years. Add property tax and the estimate comes to about $2,348 a month, all in. That figure is an illustration, not a quote.
Is 98 North Street freehold or a condo, and is there a monthly fee?
98 North Street is a fourplex in 919 - Lanark Highlands (Lanark Village), Lanark Highlands. 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 98 North Street have?
98 North Street has 6 bedrooms and 4 bathrooms. The listing gives the style as 2-storey.
Does 98 North Street have a garage and parking?
The listing does not show a garage. The driveway adds 4 spaces. In total the listing counts 4 parking spaces.
Does 98 North Street have a finished basement?
The listing describes the basement as unfinished, other.
What style of home is 98 North Street?
98 North 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 98 North Street, and what is the lot size?
The listing puts the home between 2,500 and 3,000 sq ft. The board reports a range rather than an exact figure, and it usually leaves out the basement. The lot is listed as 105 x 60 ft.
How is 98 North Street heated and cooled?
Heating is baseboard (electric). The listing does not show air conditioning.
What are the property taxes for 98 North Street?
Property taxes are $4,019 a year (2026), or about $335 a month.
Where is 98 North Street?
98 North Street is in the 919 - Lanark Highlands (Lanark Village) community of Lanark Highlands. The nearest main intersection is North and George Street. The postal code is K0G 1K0.
Is 98 North Street still for sale?
Yes. It is an active listing (MLS® X13773884). Listings here update from the board through the day and come down once a home sells.
What are similar properties near 98 North Street asking?
Similar properties for sale nearby right now include 122 Clarence Street at $399,900 (4 bed), 96 George Street at $449,900 (3 bed) and 96 York Street at $399,900 (3 bed). These are asking prices, not sold prices. The Sold history tab shows what homes at this address went for.
What have homes at 98 North 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 98 North 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.
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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.