Listed at a mere $150,000, this historical two-storey home boasts five total units.But there’s a catch.

Half of it sits on American land and the other half is in Canada.

According to the listing[1], the house offers investors “a chance to own property on the Canadian border.It straddles the border, and a small portion of the house is in Canada.Historic building called the “Old Stone Store” was formerly a store and US/Canadian Post Office.Currently 5 living units in need of some fixing up to rent ...Canadians or Americans can buy!Sold ‘as is.’ Come take a look!”


Source:Century 21

The home was built in 1782 and boasts a total of 3,010 square feet.

Part of the property is situated in Beebe Plain, Vermont;the other is in Stanstead, Quebec.

“When I was a kid we walked across and just played on both sides without even thinking about it.In that town, the border didn’t really exist.Inside the house, it was fun,” current owner Brian Dumouli told Macleans.“My aunt slept in Canada and my uncle slept in the States.They had a Canadian TV and an American TV, a Canadian phone and an American phone.The electricity came from Vermont.The water came from Canada.”

Dumoulin inherited the property from his aunt over 40

Listed at a mere $150,000, this historical two-storey home boasts five total units.But there’s a catch.

Half of it sits on American land and the other half is in Canada.

According to the listing[1], the house offers investors “a chance to own property on the Canadian border.It straddles the border, and a small portion of the house is in Canada.Historic building called the “Old Stone Store” was formerly a store and US/Canadian Post Office.Currently 5 living units in need of some fixing up to rent ...Canadians or Americans can buy!Sold ‘as is.’ Come take a look!”


Source:Century 21

The home was built in 1782 and boasts a total of 3,010 square feet.

Part of the property is situated in Beebe Plain, Vermont;the other is in Stanstead, Quebec.

“When I was a kid we walked across and just played on both sides without even thinking about it.In that town, the border didn’t really exist.Inside the house, it was fun,” current owner Brian Dumouli told Macleans.“My aunt slept in Canada and my uncle slept in the States.They had a Canadian TV and an American TV, a Canadian phone and an American phone.The electricity came from Vermont.The water came from Canada.”

Dumoulin inherited the property from his aunt over 40 years ago.

Two of the property’s five apartments are entirely within Canada’s border.

As for taxes, they’re paid proportionally to both countries.

An interesting property for sure – and one that could net a savvy investor a decent cap rate.But is the precarious situation one that a Canadian investor should take a chance on?Let us know in the comments section below.
 

Are you looking to invest in property?If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage.Click here to get help choosing the best mortgage rate[2]

References

  1. ^ listing (farmandforest.com)
  2. ^ Click here to get help choosing the best mortgage rate (www.canadianrealestatemagazine.ca)

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