$499,000

For sale

255 West 5th Street, Hamilton (Southam) - Single Family for Sale

255 West 5th Street, Hamilton (Southam), Ontario, L9C3N9

5 beds3 baths2 parking900 ft²55 × 101 ft (5,565 sq ft) lot sizeListed 16 days ago

Overview

This 5-bedroom, 3-bathroom home in Hamilton is for sale offering roughly 900 sq ft of space. Listed at $499,000, it is attractively priced about 20% below the $625,000 median asking price in Hamilton. It has been on the market 16 days, fresher than the Hamilton average of 41 days.

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Description

Beautifully renovated bungalow in a prime Mountain location directly "Across from Mohawk College"! This turnkey home features modern finishes throughout, no carpet, and a fully finished basement with a separate entrance, second kitchen, two bedrooms, and its own living space-ideal for extended family or potential rental income. Perfect for investors looking to capitalize on strong rental demand from students, healthcare professionals, and nearby hospital staff, or for families seeking a mortgage helper. Conveniently located close to shopping, transit, schools, parks, and major amenities. A rare opportunity offering both comfortable living and excellent income potential. A/C and Furnace 2 yrs new. Roof around 4 yrs new. Hot Water Tank owned. No rental equipment. (id:66096)

Property Details

MLS®: X14095382
Property Type: Single Family
Bedrooms: 5
Beds (above / below): 3 above · 2 below
Bathrooms: 3
Parking: 2
Interior Size: 900 ft²
Lot Size: 55 × 101 ft (5,565 sq ft)
Frontage: 55 ft
Storeys: 1
Style: Bungalow
Basement: Finished, Apartment in basement, Walk out, N/A, N/A
Heating: Forced air, Natural gas
Cooling: Central air conditioning
Garage: Detached Garage, Garage
Ownership: Freehold
Property Tax: $4,000/yr

Rooms

Main level

Living room: 4.88 x 3.35 meters
Kitchen: 3.66 x 3.2 meters
Primary Bedroom: 3.81 x 3.35 meters
Bedroom 2: 3.05 x 2.74 meters
Bedroom 3: 3.05 x 3.04 meters

Basement

Living room: 3.2 x 3.04 meters
Kitchen: 3.35 x 3.04 meters
Primary Bedroom: 3.66 x 3.35 meters
Bedroom 2: 3.35 x 2.74 meters

Room details as supplied by the listing brokerage. Dimensions are shown in the unit the listing states, and are approximate.

Features

Flooring: Vinyl
Foundation: Concrete
Exterior: Brick
Lot Features: Carpet Free, In-Law Suite

Services

Water: Municipal water
Sewer: Sanitary sewer

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

16d

Hamilton (Southam) listings, avg age

41d

Price / ft²

$554

List price

$499K

Haho

This 5-bed single family in Hamilton (Southam) has been listed for 16 days, which is 25 days fresher than the city average of 41. Act while there is still low competition.

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Listed by HOMELIFE TOP STAR REALTY INC. · JAS UPPAL

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (L9C)

This home lists at $499,000, about 5.4× the local median household income of $92,000.

Carrying it typically needs a household income of about $97,472 (20% down, 25-yr amortization, stress-tested) — roughly 6% above the area median.

Median household income: $92,000
Population: 41,202
Median age: 41.2
Owner / renter: 71% / 29%
Avg. household size: 2.7

Source: Statistics Canada, 2021 Census (FSA L9C)

$499,000· $554/ft²

For sale

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Full Cost Breakdown

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Down Payment5% · $24,950

Min 5%50%

Mortgage payment$2,628/mo

↳ CMHC premium ($18,962 capitalized)

Property tax (est.)$333/mo

Total monthly$2,962

Cash Needed to Close

Down payment (5%)$24,950

Land transfer tax$6,455

Est. closing costs$3,997

Total cash needed$35,402

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