Homula Realty Brokerage
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4133 Highway 101 W, Timmins, ON P4R 0E7

Investment
$1,399,000

This profitable and turnkey hospitality property/business is located right on the main highway running through Timmins, Ontario. This well-maintained motel has 15 fully furnished guest rooms consisting of new mattresses throughout, each with a private bathroom, and with the majority offering full kitchenettes. With a two-story apartment right above, and a front office below at the main entrance, this property is a live/work set-up . All guests have ample parking together with the ability to park right in front of their room, bringing back the vintage motels back in the day. The property is just under one (1) km from the scenic Mattagami River, and the property offers the ability to hike right to it from the Motel. The atmosphere is quiet and secluded but close enough to town for guests to commute to the city while maintaining far enough from the city noise for a good night's sleep. The property generates a strong five-figure average monthly income (a six-figure yearly income), making it perfect for a first-time commercial buyer, seasoned veteran in the hospitality business, or an industrial company looking to house their workers year-round. The back of the property features 18 zoned lots previously used for mobile homes; however, it has the potential for future re development and expansion. Located in a high visibility location right off the highway, and offering an active clientele base with repeated visits year-round. This motel is an amazing opportunity to invest in with the ability to live at or hire personnel without having to worry about providing housing. This is a property that you do not want to miss out on! Electricity up to code 2023, Fire Alarm System up to code 2023, New Plumbing from Copper to Pex 2023, New Two Tankless Boiler Energy Saver and all heating pipes Pex, All Room Flooring 8mm Vinyl, Majority Brand New Windows 2023, All Double Curtains in Rooms, All Appliances (Mini Fridge, Microwave, Toaster, Lamp) And All Bedding 2023, All Roku SMART TVs.

MLS number
T12923434
Type
Investment
Status
Active
Bedrooms
—
Bathrooms
—
Postal code
P4R 0E7
Photos
1
Property tax
$18,992 / year
170days · this listing
Total days on market across every earlier listing of this propertyRegistration and sign-in required

This listing’s own days on market are shown above. How long the property has been for sale across every earlier listing is drawn from records the board releases only to registered users — a free account opens it, along with the sale history below.

Listing history

No previous listings found for this address.

Where this property is

Where this address sits, matched against open government data.

Estimated from the house-number range along this road: the right block of the right street, not the exact building. No address file publishes this house.

H-Value

our estimate of this home is for registered usersWhat comparable homes nearby actually sold for, worked into an estimate for this one — with the range it sits in and how far the method has been off in testing.Create a free accountAlready have one? Sign in.

What an H-Value is and how it is calculated — the method and our measured error, no account needed.

This neighbourhood

Statistics Canada 2021 Census, for the surrounding few blocks — about 611 people.

$87,000Median household income
81.8%Own their home
73.6%Detached houses
46.4Median age
4.2%Born outside Canada
9.6%University degree

The neighbourhood, by the census

Statistics Canada 2021 Census for dissemination area 35560281 — the few blocks around this address, home to 611 people. It describes the area, not this property.

611Population
43.4Average age
2.3Household size
$96,000Average household income
$87,000Median household income
82%Own their home
18%Rent
0%Condominiums
4%Born outside Canada
10%University degree
$228,000Average home value
8%Low income
69%Not in the labour force
26%Never married
$15,000 to $19,9993%
$20,000 to $24,9993%
$35,000 to $39,9993%
$40,000 to $44,9994%
$45,000 to $49,9991%
$50,000 to $59,9995%
$60,000 to $69,9998%
$70,000 to $79,9994%
$80,000 to $89,9995%
$90,000 to $99,9991%
$100,000 and over31%
$100,000 to $124,99910%
$125,000 to $149,9996%
$150,000 to $199,99910%
$200,000 and over6%

Percentages are of the 390 responses in this category. Statistics Canada rounds counts and withholds small ones to keep individuals unidentifiable, so categories with too few people to publish are absent rather than shown as zero.

Source: Statistics Canada, 2021 Census of Population. Contains information licensed under the Open Government Licence – Canada.

Work out the numbers

Everything below is calculated in your browser from figures you can change. Nothing is sent anywhere.

$279,800 · minimum here is $114,900
$6,194.47per month
Borrowed before insurance$1,119,200
Total borrowed$1,119,200
Interest over 25 years at 4.5%$739,141

If you rented it out

-$7,777.14per month out of pocket
Rent$0.00
Everything it costs to hold$7,777.14
How this is calculated, and what it leaves out

Canadian fixed-rate mortgages compound semi-annually, not monthly, so the monthly rate here is (1 + rate/2)1/6 − 1. Most calculators use rate ÷ 12, which is the American convention and overstates the payment by tens of dollars a month.

Below 20% down, default insurance is mandatory and is added to the loan rather than paid at closing: 2.80% at 85% loan-to-value, 3.10% at 90%, 4.00% at 95%. It is unavailable at or above $1.5M, which is why 20% is a hard floor there.

Not included: vacancy, property management, capital repairs, income tax, and the fact that a lender qualifies you at a stress-test rate rather than the one you are quoted. This is arithmetic on the numbers above, not a mortgage approval or an opinion of what you can afford.

Listed by HOMELIFE/MIRACLE REALTY LTD. Listing data provided by the Toronto Regional Real Estate Board.