Homula Realty Brokerage
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154-156 Freelton Road, Hamilton, ON L8B 0Z5

13 beds · 11 baths · 8 kitchens · 35 rooms · 9 parking spaces · 5000 + sq ft · Multiplex
$1,550,000
Property tax
$5,253 / year

Incredible investment opportunity! Over 7% cap rate! Located in the quaint town of Freelton, right across from a municipal park. Get your hands on this 1/2 property with 2 residential buildings on it. The upper building consists of four two-bedroom apartments with forced air heating and air conditioning. The lower building consists of two two-bedroom apartments and two one-bedroom apartments with forced air heating. A large garage/shop approximately 1,400 square feet can provide additional revenue or keep as personal storage for your toys. Additional income/offset with solar panel contract. Tenant parking for over ten cars. Onsite coin operated laundry. Literally an investors dream property. Nothing to do but collect the rent! Great tenants! Amazing location just 14 minutes to downtown Waterdown, 8 minutes to the 401, and 25 minutes to Cambridge. Gems like these don't come around often. RSA.

MLS number
X13207934
Type
Multiplex
Status
Active
Bedrooms
13
Bathrooms
11
Postal code
L8B 0Z5
Photos
22
Laundry
Not in the unit
108days · this listing
Total days on market across every earlier listing of this propertyRegistration and sign-in required

This listing’s own days on market are shown above. How long the property has been for sale across every earlier listing is drawn from records the board releases only to registered users — a free account opens it, along with the sale history below.

Listing history

This address has been listed 2 times.

Sale history is for registered usersSee what this address sold for and when, across all 2 listings. Free account — the board’s rules require one before sold data can be shown.Create a free account

Where this property is

Where this address sits, matched against open government data.

Approximate — placed from the postal code, which can cover a block or more.

H-Value

our estimate of this home is for registered usersWhat comparable homes nearby actually sold for, worked into an estimate for this one — with the range it sits in and how far the method has been off in testing.Create a free accountAlready have one? Sign in.

This neighbourhood

Statistics Canada 2021 Census, for the surrounding few blocks — about 508 people.

$109,000Median household income
80%Own their home
75%Detached houses
47.2Median age
6.2%Born outside Canada
19%University degree

The neighbourhood, by the census

Statistics Canada 2021 Census for dissemination area 35250864 — the few blocks around this address, home to 508 people. It describes the area, not this property.

508Population
44.4Average age
2.5Household size
$122,000Average household income
$109,000Median household income
80%Own their home
20%Rent
0%Condominiums
6%Born outside Canada
19%University degree
$970,000Average home value
5%Low income
50%Not in the labour force
24%Never married
$20,000 to $24,9995%
$25,000 to $29,9992%
$30,000 to $34,9993%
$40,000 to $44,9992%
$50,000 to $59,9993%
$60,000 to $69,9992%
$70,000 to $79,9993%
$80,000 to $89,9993%
$90,000 to $99,9995%
$100,000 and over36%
$100,000 to $124,99910%
$125,000 to $149,9998%
$150,000 to $199,9997%
$200,000 and over11%

Percentages are of the 305 responses in this category. Statistics Canada rounds counts and withholds small ones to keep individuals unidentifiable, so categories with too few people to publish are absent rather than shown as zero.

Source: Statistics Canada, 2021 Census of Population. Contains information licensed under the Open Government Licence – Canada.

Work out the numbers

Everything below is calculated in your browser from figures you can change. Nothing is sent anywhere.

$310,000 · minimum here is $310,000
$6,863.06per month
Borrowed before insurance$1,240,000
Total borrowed$1,240,000
Interest over 25 years at 4.5%$818,919

If you rented it out

-$7,300.81per month out of pocket
Rent$0.00
Everything it costs to hold$7,300.81
How this is calculated, and what it leaves out

Canadian fixed-rate mortgages compound semi-annually, not monthly, so the monthly rate here is (1 + rate/2)1/6 − 1. Most calculators use rate ÷ 12, which is the American convention and overstates the payment by tens of dollars a month.

Below 20% down, default insurance is mandatory and is added to the loan rather than paid at closing: 2.80% at 85% loan-to-value, 3.10% at 90%, 4.00% at 95%. It is unavailable at or above $1.5M, which is why 20% is a hard floor there.

Not included: vacancy, property management, capital repairs, income tax, and the fact that a lender qualifies you at a stress-test rate rather than the one you are quoted. This is arithmetic on the numbers above, not a mortgage approval or an opinion of what you can afford.

Listed by RE/MAX ESCARPMENT REALTY INC.. Listing data provided by the Toronto Regional Real Estate Board.