$650,000

$749,900For salePrice drop↓ $99,900 (13%)

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245 AINSLIE Street South, Cambridge - Multi-family for Sale

245 AINSLIE Street South, Cambridge, Ontario, N1R3L2

7 beds4 baths parking

100 Queen Street West, Cambridge, Ontario, N3C1G3

4 bd2 ba4 pk1,750 ft²Lot size 45 × 144 ft (6,480 sq ft)

Listed by HOMELIFE/MIRACLE REALTY LTD

332 QUEEN Street West, Cambridge, Ontario, N3C1G8

For saleJust listed

2 days ago

$700K

332 QUEEN Street West, Cambridge, Ontario, N3C1G8

2 bd4 pk1,941 ft²

Listed by RE/MAX Twin City Realty Inc.

12 TAIT Street, Cambridge, Ontario, N1S3C2

For saleJust listed

2 days ago

$700K

12 TAIT Street, Cambridge, Ontario, N1S3C2

4 bd2 ba3 pk1,964 ft²

Listed by Affinity Real Estate Inc

For sale

8 days ago

$700K

100 QUEEN Street West, Cambridge, Ontario, N3C1G3

4 bd2 ba4 pk1,812 ft²

Listed by HOMELIFE MIRACLE REALTY LTD.

Investment analysis

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$650,000

Cambridge

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Overview

This multi-family property in Cambridge is for sale offering roughly 3,560 sq ft of space. It has been on the market 36 days, fresher than the Cambridge average of 57 days.

Multi-Family Properties for Sale in Cambridge →All real estate in Cambridge →

Description

Spacious fourplex situated on a large lot with plenty of parking. Each unit has separate hydro, gas, and water meters. The property also features an owned solar system. All units are currently vacant, offering flexibility for an investor or buyer looking to add value. The units are generously sized with high ceilings and provide a solid opportunity for someone with a vision to make improvements and bring out the property’s potential. (id:66096)

Property Details

MLS®: 40867484
Property Type: Multi-family
Zoning: R4
Bedrooms: 7
Bathrooms: 4
Parking: 12
Interior Size: 3,560 ft²
Frontage: 66 ft
Units: 4
Year Built: 1857
Storeys: 2
Basement: Unfinished, Partial
Heating: Radiant heat, Forced air, Natural gas
Cooling: None
Garage: Carport, Open
Ownership: Freehold
Property Tax: $7,197.97/yr
Listed: 36 days ago

Features

Foundation: Poured Concrete
Exterior: Stone, Vinyl siding
Lot Features: Sump Pump

Services

Water: Municipal water
Sewer: Municipal sewage system

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

36d

Cambridge listings, avg age

57d

Price / ft²

$183

List price

$650K

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 99.9 percent of their asking price over the past year, above the 96.4 percent median across the markets we publish.

Haho

This 7-bed multi-family in Cambridge has been listed for 36 days, which is 21 days fresher than the city average of 57. Act while there is still low competition.

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Listed by Chestnut Park Realty Southwestern Ontario Limited · LEE QUAILE

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (N1R)

This home lists at $650,000, about 8.4× the local median household income of $77,000.

Carrying it typically needs a household income of about $126,968 (20% down, 25-yr amortization, stress-tested) — roughly 65% 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)

$650,000· $183/ft²

For sale

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Full Cost Breakdown

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Down Payment6.15% · $40,000

Min 6.15%50%

Mortgage payment$3,382/mo

↳ CMHC premium ($24,400 capitalized)

Property tax (est.)$600/mo

Total monthly$3,982

Cash Needed to Close

Down payment (6.15%)$40,000

Land transfer tax$9,475

Est. closing costs$4,450

Total cash needed$53,925

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