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Listed 2 months ago

116-120 Barnesdale Avenue N

Gibson, Hamilton

$1,649,000

Detached|2 1/2 Storey
8 | 3 | 2
About this home

A rare urban land opportunity with room to think big. 116-120 Barnsdale Ave N offers nearly one-third of an acre within Hamilton's city limits, currently improved with two 2.5 storey homes on one expansive parcel. Buy and hold for future potential, renovate and explore conversion of the existing buildings, investigate a possible severance, or reimagine the entire property as a new multi-residential development. The possibilities make this a compelling opportunity for builders, developers and long-term investors. The location adds to the promise. Enjoy convenient access to schools, parks, shopping, local transit and Hamilton Stadium, all within an established neighbourhood experiencing continued investment and renewal. The property is also close to the planned Hamilton LRT corridor, one of the city's most significant transit investments: a proposed 14-kilometre, 17-stop line connecting McMaster University to Eastgate Square through Hamilton's lower city, with links to HSR and GO Transit. Substantial land parcels of this size are increasingly difficult to find within the urban boundary. Whether your vision is to enhance what is already here, create additional residential opportunities, assemble a long-term landholding, or pursue a complete redevelopment designed to maximize the site, 116-120 Barnsdale presents an exciting foundation for what comes next. Seller is registered Real Estate Broker.

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agent
Macallum Tepsich
(647) 326-2579
TypeDetached
Style2 1/2 Storey
Approx. Age100+
Size2500-3000 sq. ft.
Property Tax$5,357
Lot Size48 ft x 245.03 ft
mls© NumberX13694118
Listed ByCENTURY 21 HERITAGE GROUP LTD.

Listing History

  • No recent sale history for this listing.
  • No recent lease history for this listing.

Could you afford this home?

What the bank counts

This home's actual carrying costs, payment stress-tested at 6%

Mortgage, tested at 6%
$8,440
Property tax
$446
Heat allowance
$150
Housing costs
$9,037 / mo

Lenders cap these at 39% of gross income — that sets the number.

Down payment20% · $329,800
25-yr amortization

Income needed

$278,000

gross annual household income

Payment at 4%
$6,939 / mo
Cash down
$329,800

Assumes no other monthly debts · 25-yr amortization

Full affordability check

Investment Analysis

Estimated rent, cap rate and monthly cash flow for this property

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