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Property Description
Rare opportunity to own this FULLY VACANT, newly renovated three unit home in Hamilton with potential for a large fourth unit in the basement! Buyer to set their own rent at market value. The house comes equipped with 3 units. Unit 1 is a vacant two-bedroom suite with the income potential of $2,400+ (Also great for Airbnb), Unit 2 is a newly renovated vacant two-bedroom unit ($2,300), and unit 3 features a really cool bachelor loft space on the 3rd floor, with the income potential of $1,550+. The Gross Annual income is $78,600.00. This is a Rare offering and huge opportunity to increase your annual income by finishing the basmt which could bring an additional income of $1,500+ per month. The property features a large Double lot (43 x 105) ft lot, a massive driveway with 5+ parking spots and an oversized two-car garage with forecasted rent of ($400+). Huge income opportunity to be had. Seller has spent $20k in permits to finish bsmt legally, and turning home into legal 4plex.
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Listing History
List Date | End Date | Days Listed | List Price | Sold Price | Status |
---|---|---|---|---|---|
2023-12-14 | 2024-04-30 | 138 | $2,400 | - | Expired |
2022-05-26 | 2022-07-19 | 54 | $2,200 | $2,200 | Leased |
2022-05-26 | 2022-07-19 | 54 | $2,200 | $2,200 | Leased |
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Property Details
Street
Community
City
Property Type
Detached, 2 1/2 Storey
Approximate Sq.Ft.
2000-2500
Lot Size
43' x 105'
Fronting
East
Taxes
$4,930 (2023)
Basement
Full, Unfinished
Exterior
Brick
Heat Type
Forced Air
Heat Source
Gas
Air Conditioning
Other
Water
Municipal
Parking Spaces
5
Driveway
Private
Garage Type
Detached
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Hamilton Market Statistics
Hamilton Price Trend
49 Fairleigh Ave S is a 2-bedroom 3-bathroom home listed for sale at $999,999, which is $361,582 (56.6%) higher than the average sold price of $638,417 in the last 30 days (October 21 - November 19). During the last 30 days the average sold price for a 2 bedroom home in Hamilton declined by $37,184 (5.5%) compared to the previous 30 day period (September 21 - October 20) and down $73,444 (10.3%) from the same time one year ago.Inventory Change
There were 68 2-bedroom homes listed in Hamilton over the last 30 days (October 21 - November 19), which is down 12.8% compared with the previous 30 day period (September 21 - October 20) and down 2.9% compared with the same period last year.Sold Price Above/Below Asking ($)
2-bedroom homes in Hamilton typically sold ($12,806) (2.0%) below asking price over the last 30 days (October 21 - November 19), which represents a $2,133 increase compared to the previous 30 day period (September 21 - October 20) and ($20,925) 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 2-bedroom homes in Hamilton over the last 30 days (October 21 - November 19) stood at 98.5%, up from 57.7% over the previous 30 days (September 21 - October 20) and up from 50.0% one year ago.Average Days on Market when Sold vs Delisted
An average time on the market for a 2-bedroom 3-bathroom home in Hamilton stood at 38 days when successfully sold over the last 30 days (October 21 - November 19), compared to 51 days before being removed from the market upon being suspended or terminated.Listing contracted with Re/Max Aboutowne Realty Corp.
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