$569,000

For sale

22 Rich Avenue, Cambridge - Single Family for Sale

22 Rich Avenue, Cambridge, Ontario, N1R2A5

4 beds2 baths7 parking1,750 ft²66 × 99 ft (6,534 sq ft) lot sizeListed 20 days ago

Overview

This 4-bedroom, 2-bathroom home in Cambridge is for sale offering roughly 1,750 sq ft of space. Listed at $569,000, it is attractively priced about 19% below the $699,900 median asking price in Cambridge. It has been on the market 20 days, fresher than the Cambridge average of 57 days.

Houses for Sale in Cambridge →All real estate in Cambridge →

Description

Forced appreciation opportunity in historic East Galt! This 2.5-storey century home offers over 1,800 sq. ft. on a rare double lot, with a garage and parking for 6. A compelling opportunity for investors and house hackers looking to acquire a property with existing income, flexibility, and significant future upside. Currently configured with two living spaces, the upper unit provides rental income while the main floor is vacant. This creates an opportunity to live in the property while offsetting your housing costs, or to reposition the property to maximize rental income. Zoned R4, the property offers exciting potential to explore increased residential density, including multiplex conversion. The double lot further appeals to investors seeking efficient use of the existing footprint. Whether you're looking to house hack, establish a stronger rental portfolio, or pursue a longer-term value-add strategy, this property offers multiple paths to growth. Minutes from historic downtown Galt, trails, and local amenities. A rare combination of land, income, and future potential. (id:66096)

Property Details

MLS®: X14090220
Property Type: Single Family
Bedrooms: 4
Beds (above / below): 4 above · 0 below
Bathrooms: 2
Parking: 7
Interior Size: 1,750 ft²
Lot Size: 66 × 99 ft (6,534 sq ft)
Frontage: 66 ft
Storeys: 2
Basement: Full
Heating: Forced air, Natural gas
Cooling: Central air conditioning
Garage: Attached Garage, Garage
Ownership: Freehold
Property Tax: $4,748.25/yr
Listed: 20 days ago

Rooms

Main level

Living room: 3.96 x 3.96 meters
Kitchen: 3.35 x 2.13 meters
Dining room: 3.51 x 2.13 meters
Bedroom: 3.96 x 2.74 meters
Bedroom: 3.96 x 3.66 meters

Second level

Kitchen: 3.05 x 2.9 meters
Living room: 3.81 x 2.9 meters
Bedroom: 3.96 x 3.35 meters
Bedroom: 3.96 x 3.05 meters

Third level

Features

Appliances: Washer, Dryer, Microwave, Two stoves, Water Heater, Two Refrigerators
Foundation: Poured Concrete
Exterior: Aluminum siding
Lot Features: In-Law Suite

Services

Water: Municipal water
Sewer: Sanitary sewer

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

20d

Cambridge listings, avg age

57d

Price / ft²

$325

List price

$569K

Homes here sell faster than most markets

Sold homes in this market spent an average of 32 days on the market over the past year, against a median of 48 days across the markets we publish.

Homes here sell close to asking price

Homes in this market sold for an average of 99.8 percent of their asking price over the past year, above the 96.4 percent median across the markets we publish.

Haho

This 4-bed single family in Cambridge has been listed for 20 days, which is 37 days fresher than the city average of 57. Act while there is still low competition.

Set a price alert Book a showing

Listed by Rock Star Real Estate Inc., Brokerage · JOSHUA ARNETT

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (N1R)

This home lists at $569,000, about 7.4× the local median household income of $77,000.

Carrying it typically needs a household income of about $111,146 (20% down, 25-yr amortization, stress-tested) — roughly 44% above the area median.

Median household income: $77,000
Population: 42,928
Median age: 40.8
Owner / renter: 59% / 41%
Avg. household size: 2.5

Source: Statistics Canada, 2021 Census (FSA N1R)

$569,000· $325/ft²

For sale

Book a showing

Pick a time that suits you. A verified local agent confirms within 24h.

Full Cost Breakdown

Loading rates, 30-yr amortization

Current Rates

Loading…

Compare all rates

Down Payment5.61% · $31,900.00

Min 5.61%50%

Mortgage payment$2,978/mo

↳ CMHC premium ($21,484 capitalized)

Property tax (est.)$396/mo

Total monthly$3,373

Cash Needed to Close

Down payment (5.61%)$31,900

Land transfer tax$7,855

Est. closing costs$4,207

Total cash needed$43,962

Get Pre-Approved · Free & Fast

Rates via our partner mortgage brokers at iShopRates · Estimates only, not financial advice

Rental cashflow calculator