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$349,900
Hamilton
39 Princess Street, Hamilton (Gibson), Ontario, L8L3K7
This 2-bedroom, 1-bathroom home in Hamilton is for sale offering roughly 900 sq ft of space. Listed at $349,900, it is attractively priced about 30% below the $498,888 median asking price in Hamilton. It has been on the market 6 days, fresher than the Hamilton average of 87 days.
Imagine the redevelopment possibilities! Bring your vision to 39 Princess Street and explore the opportunity to transform this Hamilton gem into a duplex, with a longer-term concept for as many as five separate residential units. The proposed first phase retains and revitalizes the existing home, pairing a renovated main floor with a self-contained basement apartment and separate entrances. The broader development vision contemplates two additional storeys, creating four residences within the main house, plus a two-bedroom apartment above a proposed rear two-car garage. Exterior improvements and a repaved driveway round out the planned transformation. Whether you're an investor exploring future rental income, a builder looking for your next project, or a buyer ready to turn potential into something special, this property invites you to imagine what comes next. Explore the initial two-unit concept and the possibilities for future expansion. Preliminary financials, conceptual renderings and development proposals are available. Permit and planning applications have not been submitted, and approvals have not been obtained; the buyer is responsible for confirming feasibility and securing all required permits and approvals. Do phase one and stop or continue later. The options are endless. (id:66096)
Features and services as supplied by the listing brokerage.
Just listed: 6 days on market, against an average age of 87 days across the listings currently for sale in this city
This 2-bed single family in Hamilton (Gibson) has been listed for 6 days, which is 81 days fresher than the city average of 87. Act while there is still low competition.
Approximate location — exact address confirmed upon showing
This home lists at $349,900, about 5.4× the local median household income of $65,000.
Carrying it typically needs a household income of about $68,348 (20% down, 25-yr amortization, stress-tested) — roughly 5% above the area median.
Source: Statistics Canada, 2021 Census (FSA L8L)
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Loading rates, 30-yr amortization
Cash Needed to Close
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