Home with brick exterior material, street for 487 Cannon St, Hamilton Ontario L8L 2E5
50 days on Market

487 Cannon St, Hamilton, Ontario L8L 2E5

Townhouse
5 + 1
4
- sqft
$729,999
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$7,300Cashback
Townhouse
5 + 1
4
- sqft

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Highlights

Estimated ValueNot available

Price/Sqft-

Est. Mortgage$3,135/mo

Tax Amount (2024)$3,474/yr

Days On Market50 days


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 very low operating expenses; investors can achieve great positive cash flow, a rare find in today's 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!


Property Details

Style2 1/2 Storey
View-
Age of property-
SqFt-
Lot Size1,900 SqFt(95 x 20)
Parking Spaces2
MLS ®NumberX12018990
Community NameGibson
Data SourceTRREB
Listing byRIGHT AT HOME REALTY

Features

Heating: Forced Air
Basement: Apartment, Finished

Features

Lot size: 1,900 SqFt

Parking

Garage spaces -

Garage type -

Total parking spaces 2


Property listed by RIGHT AT HOME REALTY, Brokerage

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Market Data - Gibson

Geo Zone Map ThumbnailGibson

Strong Buyer's Market

View Market Data

Townhouse - for the past 30 days

Buyer's market Seller's market

Avg. Days on Market

Past 30 days

31 days

Compared to

2024

49 days

2023

0 day

2022

40 days

New Listings

Past 30 days

5 listings

Compared to

2024

0 listing

2023

1 listing

2022

1 listing

Units sold

Past 30 days

1 unit

Compared to

2024

1 unit

2023

0 unit

2022

1 unit

Median Sold Price

Past 30 days

$830,000

Compared to

2024

$455,000

2022

$793,500


Population and Demographics

Overview

Total population 7422
Average household income $86,536

Age (%)

20 to 34
26%
0 to 19
23%
35 to 49
20%
50 to 64
19%
65 and plus
12%

Household composition (%)

Single family
51%
Single person
40%
Multi person
9%
Multi family
0%

Mother tongue (%)

English
81%
Spanish
3%
Arabic
2%
Portuguese
2%
Somali
2%
Vietnamese
2%
Others
2%
French
1%
Italian
1%

House tenancy (%)

Renters
60%
Owners
40%

Schools and amenities

Estimated Budget