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New6 days ago

29 Thorndale Street S

Ainslie Wood, Hamilton

$760,000

Detached|Bungalow
3 | 2 | 4
About this home

Discover an exceptional investment opportunity ideally located within walking distance to McMaster University. This recently renovated property is perfectly suited for student housing, offering strong rental potential and consistent demand. It is also an excellent option for families, with the opportunity to generate additional rental income from the fully independent basement. With a total of 6 bedrooms, this property allows for maximum rental income by leasing each room individually. (Rental Income in this case can reach to approximately $4400/month). A spacious backyard adds to the appeal, offering plenty of room for outdoor enjoyment. Whether you are an investor looking to expand your portfolio or seeking a versatile home near a major university, this opportunity delivers both convenience and profitability.

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agent
Macallum Tepsich
(647) 326-2579
TypeDetached
StyleBungalow
Approx. AgeNot available
Size700-1100 sq. ft.
Property Tax$6,303
Lot Size40 ft x 100 ft
mls© NumberX13839894
Listed ByFOREST HILL REAL ESTATE INC.

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%
$3,890
Property tax
$525
Heat allowance
$150
Housing costs
$4,565 / mo

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

Down payment20% · $152,000
25-yr amortization

Income needed

$140,000

gross annual household income

Payment at 4%
$3,198 / mo
Cash down
$152,000

Assumes no other monthly debts · 25-yr amortization

Full affordability check

Investment Analysis

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

Values and trends

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