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63 Melrose Avenue S, Hamilton, ON L8M 2Y4

6 beds · 4 baths · 2 kitchens · 10+3 rooms · 3 parking spaces · 2500-3000 sq ft · Laundry on the main level level · Duplex
$649,900
Property tax
$4,765 / year

An exceptional opportunity in the heart of the Gibson-Stipley neighbourhood! This large, updated and Vacant 2 unit property offers incredible flexibility for investors and owner-occupiers alike. With two spacious, move-in-ready units, the property is ready for a new owner to select their own tenants and establish current market rents from day one. Live in one unit while generating income from the other to help offset your mortgage, or add this turnkey property to your investment portfolio and maximize its rental potential. Looking for even more upside? The property also offers potential to create a third unit with separate side entrance, providing an exciting opportunity to further increase revenue and long-term value. Ideally situated in an established central Hamilton neighbourhood close to transit, schools, shopping, amenities and downtown.A rare opportunity to acquire a vacant, updated multi-unit property with strong income potential and multiple options for the future!

MLS number
X13769078
Type
Duplex
Status
Active
Bedrooms
6
Bathrooms
4
Postal code
L8M 2Y4
Photos
49
Laundry
Main Level level
2days · 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

No previous listings found for this address.

Where this property is

Where this address sits, matched against open government data.

Matched to this street. The listing did not say which direction, and every candidate was in the same place.

Schools

The school boundaries this address is inside, and the schools nearest it. Boards redraw boundaries and cap programs — confirm with the board before this affects a decision.

Other schools nearby

By distance from this address, not school boundary — a school 400 m away can be in another school’s attendance area.

SchoolLevelDistanceRating
Bridge International SchoolSecondary282 mNot reported
Prince of Wales Elementary Public School
Hamilton-Wentworth DSB
Elementary430 m6.1 / 10
61% met the standard
Adelaide Hoodless Public School
Hamilton-Wentworth DSB
Elementary457 m6.7 / 10
67% met the standard
Bernie Custis Secondary School Secondary School
Hamilton-Wentworth DSB
Secondary555 m5.1 / 10
51% met the standard · 2 of 6 measures
ÉÉC Notre-Dame
CS catholique MonAvenir
Elementary742 m5.5 / 10
55% met the standard
St. Ann (Hamilton) Catholic Elementary School
Hamilton-Wentworth CDSB
Elementary823 m7.0 / 10
70% met the standard
How the rating is calculated

EQAO — Ontario’s testing agency — publishes, for each school, the percentage of students meeting the provincial standard in Grade 3 and Grade 6 reading, writing and mathematics. The rating is the average of those percentages divided by ten. A school where 72% of students met the standard rates 7.2 out of 10.

Nothing is weighted or adjusted, and schools are not ranked against each other. Where EQAO withholds a result to protect the privacy of a small group of students, that measure is left out rather than counted as zero — so a rating built on fewer than six measures says so.

What it does not measure. It is one year of standardised testing in three subjects. It says nothing about teaching, programs, or whether a school suits a particular child, and it tracks neighbourhood household income closely enough that it partly measures the neighbourhood rather than the school. Treat it as one figure among many.

Source: Ontario Ministry of Education, School Information and Student Demographics (2024–25), Open Government Licence – Ontario.

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 525 people.

$66,500Median household income
48.9%Own their home
50%Detached houses
37.2Median age
9.3%Born outside Canada
17.5%University degree

The neighbourhood, by the census

Statistics Canada 2021 Census for dissemination area 35250717 — the few blocks around this address, home to 525 people. It describes the area, not this property.

525Population
38.3Average age
2.3Household size
$77,500Average household income
$66,500Median household income
49%Own their home
51%Rent
0%Condominiums
9%Born outside Canada
18%University degree
$620,000Average home value
14%Low income
45%Not in the labour force
40%Never married
$15,000 to $19,9993%
$20,000 to $24,9992%
$25,000 to $29,9995%
$30,000 to $34,9993%
$35,000 to $39,9995%
$40,000 to $44,9993%
$45,000 to $49,9993%
$50,000 to $59,9998%
$60,000 to $69,9995%
$70,000 to $79,9993%
$80,000 to $89,9993%
$90,000 to $99,9993%
$100,000 and over25%
$100,000 to $124,99910%
$125,000 to $149,9995%
$150,000 to $199,9995%
$200,000 and over5%

Percentages are of the 295 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.

$129,980 · minimum here is $39,990
$2,877.62per month
Borrowed before insurance$519,920
Total borrowed$519,920
Interest over 25 years at 4.5%$343,365

If you rented it out

-$3,274.70per month out of pocket
Rent$0.00
Everything it costs to hold$3,274.70
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.