Belleville, ON - Rentals

[Kyle Albert]

Hi All, I'm looking for a little bit of insight. Is anyone on here familiar with the Belleville market? I'm looking to invest in preferably a small multi family or SFH if the numbers make sense. I was searching on the MLS and the Belleville prices are quite appealing. I just don't know if the rents hold up. Currently I'm looking into some newly built homes that are running anywhere between $220k to $290k for 2-3 bedroom SFH. I'm seeing rents posted for $850/mth for 1 bedroom apartments. So I'd have to believe a 3 bedroom SFH would rent somewhere in the $1400-1800/mth range. If anyone has any insight into the market or invests in Belleville themselves I'd love to hear more. Thanks, Kyle Albert

[Alek Lupa]

Hello Stephan, there are some interesting opportunities to the west in Trenton for multi-family. I'm currently living in a 6-plex that the rent is going for 700 tenant pays utilities. I seen a similar 6-plex down the street sell for 500k just wasn't in the right frame of mind to see the opportunity at the time. 

Trenton has a massive air base which offers steady good playing jobs, so the economy of the town seem to be stable. 

Biggest disadvantage would be the paper mill. If looking at properties stay to the south west side of town since the air quality seems to be better.