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BEDROOMS4
BATHROOMS3 + 1
KITCHENS17 + 3
ROOMSX12018990
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Property Description
Welcome to this meticulously maintained 4-unit investment property, offering exceptional cash flow and long-term appreciation potential. Featuring three 1-bedroom units and one 2-bedroom unit, this turnkey asset generates $52,860 in annual gross rent with low operating expenses of just $11,066.02. With a net operating income of $41,793/year or $3,482/month investors can achieve positive cash flow a rare find in todays market! Tenants are paying market rents and in good standing, ensuring stable, hassle-free income. Recent updates include a new roof and fence (2018), interior waterproofing, new concrete walkway, plumbing upgrades, window replacements, door updates, and tree trimming see the full list of improvements in the attachments. With extensive maintenance completed, this is a prime, low-maintenance investment in a high-demand rental market. Upside potential exists with interior cosmetic updates, making this an ideal opportunity for savvy investors looking for both immediate income and long-term growth. Financials attached. Offers welcome anytime!
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Listing History
| List Date | End Date | Days Listed | List Price | Sold Price | Status |
|---|---|---|---|---|---|
| 2024-04-15 | 2024-05-21 | 36 | $699,999 | - | Terminated |
| 2022-11-16 | 2023-04-13 | 148 | $729,900 | - | Terminated |
| 2022-11-16 | 2023-04-13 | 147 | $729,900 | - | Suspended |
| 2022-05-25 | 2022-06-29 | 35 | $799,900 | - | Terminated |
| 2022-04-07 | 2022-05-25 | 48 | $874,900 | - | Terminated |
Property Features
Hospital, Park, Place Of Worship, Public Transit, Rec Centre, School
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Property Details
Street
Community
City
Property Type
Duplex, 2 1/2 Storey
Lot Size
20' x 95'
Fronting
North
Taxes
$3,474 (2024)
Basement
Apartment, Finished
Exterior
Brick
Heat Type
Forced Air
Heat Source
Gas
Air Conditioning
None
Water
Municipal
Parking Spaces
2
Garage Type
None
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Hamilton Market Statistics
Hamilton Price Trend
487 Cannon St E is a 5-bedroom 4-bathroom home listed for sale at $729,999, which is $183,376 (20.1%) lower than the average sold price of $913,375 in the last 30 days (January 21 - February 19). During the last 30 days the average sold price for a 5 bedroom home in Hamilton declined by $831,625 (47.7%) compared to the previous 30 day period (December 22 - January 20) and down $536,701 (37.0%) from the same time one year ago.Inventory Change
There were 33 5-bedroom homes listed in Hamilton over the last 30 days (January 21 - February 19), which is up 50.0% compared with the previous 30 day period (December 22 - January 20) and up 6.5% compared with the same period last year.Sold Price Above/Below Asking ($)
5-bedroom homes in Hamilton typically sold ($22,434) (2.5%) below asking price over the last 30 days (January 21 - February 19), which represents a $94,966 increase compared to the previous 30 day period (December 22 - January 20) and ($91,146) 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 5-bedroom homes in Hamilton over the last 30 days (January 21 - February 19) stood at 24.2%, up from 9.1% over the previous 30 days (December 22 - January 20) and down from 41.9% one year ago.Average Days on Market when Sold vs Delisted
An average time on the market for a 5-bedroom 4-bathroom home in Hamilton stood at 18 days when successfully sold over the last 30 days (January 21 - February 19), compared to 83 days before being removed from the market upon being suspended or terminated.Listing contracted with Right At Home Realty
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