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Property Description
This 2-floor home is an investors dream, featuring separate rental units on both the main and top floors. There is additional potential to add another rental unit in the basement, all with separate entrances and a fire escape for safety and convenience. While not a legal duplex, this home offers great flexibility and rental income potential once renovated. Set on a large corner lot, the house is in need of work but offers significant upside for the right buyer. Its being sold as-is, with no showings allowed due to safety concerns. This is a great opportunity for those with the vision and skill to unlock the full potential of this property. Don't miss your chance to own a property in a prime location, with the possibility of creating multiple rental units.
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Property Details
Street
Community
City
Property Type
Detached, 2-Storey
Approximate Sq.Ft.
700-1100
Lot Size
27' x 100'
Fronting
South
Taxes
$2,364 (2024)
Basement
Finished
Exterior
Alum Siding, Brick
Heat Type
Forced Air
Heat Source
Gas
Air Conditioning
None
Water
Municipal
Parking Spaces
2
Driveway
Private
Garage Type
None
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Room Summary
| Room | Level | Size | Features |
|---|---|---|---|
| Kitchen | Main | 9.97' x 7.97' | |
| Br | Main | 9.97' x 8.99' | |
| Living | Main | 9.97' x 9.97' | |
| Kitchen | 2nd | 9.97' x 7.97' | |
| Br | 2nd | 9.97' x 8.99' | |
| Br | 2nd | 9.97' x 9.97' |
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Hamilton Market Statistics
Hamilton Price Trend
427 Cannon St E is a 3-bedroom 3-bathroom home listed for sale at $499,900, which is $264,725 (34.6%) lower than the average sold price of $764,625 in the last 30 days (December 16 - January 14). During the last 30 days the average sold price for a 3 bedroom home in Hamilton declined by $14,567 (1.9%) compared to the previous 30 day period (November 16 - December 15) and down $8,065 (1.0%) from the same time one year ago.Inventory Change
There were 125 3-bedroom homes listed in Hamilton over the last 30 days (December 16 - January 14), which is down 59.9% compared with the previous 30 day period (November 16 - December 15) and up 47.1% compared with the same period last year.Sold Price Above/Below Asking ($)
3-bedroom homes in Hamilton typically sold ($20,256) (2.6%) below asking price over the last 30 days (December 16 - January 14), which represents a $2,110 increase compared to the previous 30 day period (November 16 - December 15) and ($33,199) more than the same period last year.Sales to New Listings Ratio
Sold-to-New-Listings ration (SNLR) is a metric that represents the percentage of sold listings to new listings over a given period. The value below 40% is considered Buyer's market whereas above 60% is viewed as Seller's market. SNLR for 3-bedroom homes in Hamilton over the last 30 days (December 16 - January 14) stood at 127.2%, up from 59.3% over the previous 30 days (November 16 - December 15) and up from 127.1% one year ago.Average Days on Market when Sold vs Delisted
An average time on the market for a 3-bedroom 3-bathroom home in Hamilton stood at 43 days when successfully sold over the last 30 days (December 16 - January 14), compared to 75 days before being removed from the market upon being suspended or terminated.Listing contracted with Re/Max Escarpment Frank Realty
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