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New4 days ago

50 Somerset Avenue

Stipley, Hamilton

$549,900

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

FULLY VACANT LEGAL DUPLEX WITH THREE UNITS AND STRONG INCOME POTENTIAL. Fully vacant and ready for fresh market rents, this legal duplex features three fully contained units, giving investors the opportunity to select their own tenants and establish rents from day one. With three potential income streams under one roof, the property offers an appealing opportunity for investors looking to build or expand their portfolio. Many of the major capital expenses have already been completed, helping reduce the immediate costs that can come with acquiring an investment property. Full vacancy provides added flexibility, allowing the next owner to establish their own tenant mix and rental structure from the start. Location adds to the rental appeal. Public transit is just minutes away on foot, with grocery stores, restaurants, shopping and everyday amenities all close by, providing the convenience tenants look for. Three fully contained units, full vacancy, fresh market rent potential, significant recent capital improvements and a convenient Hamilton location come together in an investment property positioned for income from the start. Some photos have been virtually staged.

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agent
Macallum Tepsich
(647) 326-2579
TypeDetached
Style2 1/2 Storey
Approx. Age100+
Size1100-1500 sq. ft.
Property Tax$3,379
Lot Size24.4 ft x 60 ft
mls© NumberX13853452
Listed ByYOUR HOME SOLD GUARANTEED REALTY ELITE

Listing History

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  • 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%
$2,815
Property tax
$282
Heat allowance
$150
Housing costs
$3,246 / mo

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

Down payment20% · $109,980
25-yr amortization

Income needed

$100,000

gross annual household income

Payment at 4%
$2,314 / mo
Cash down
$109,980

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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