1278 Queen Street, Halifax, NS (MLS® 202610661).

1278 Queen Street, Halifax, NS (MLS® 202610661): Few properties in Halifax carry the presence of this 1880 Schmidtville residence. At 3,400 square feet across three graceful storeys — with 11½-foot ceilings on the main floor — the main residence commands its surroundings with the kind of architectural character that simply cannot be replicated today. A rooftop patio completes the picture, offering sweeping views over one of the city's most coveted neighbourhoods. The main residence offers four bedrooms and three bathrooms arranged across a classic Halifax layout, with generous room sizes, original character, and thoughtful recent renovations throughout. Step outside and the best of Halifax is on foot: Spring Garden Road a block away, the waterfront five minutes, the city's finest restaurants and boutiques within easy reach. Citadel High School is a fifteen-minute walk. Rarely does a historic home of this calibre come paired with income that essentially carries itself. Three fully self-contained rental units — two behind the main house (a one-bedroom and a four-bedroom) and one at street level — operate with complete separation from the primary residence. Each has its own entrance, its own tenants, and its own quiet life. They require virtually no management and vacancy- when it occurs at all - it fills within days. Together, the rental units generate $91,000 in annual gross rental income, with $65,000 in annual net income, creating rare cash flow for a property of this calibre and location. At an estimated 4.5%–5% cap rate, the rental component alone supports a valuation of $1.3 million to $1.45 million. What the rental income implies about the effective cost of the main residence is worth noting. Properties of this standing — heritage-protected, income-generating, and walkable to everything — rarely come to market in Schmidtville.

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Listing Courtesy of: Royal LePage Atlantic