$525,000

For sale

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87 LANCASTER Street, Kitchener - Multi-family for Sale

87 LANCASTER Street, Kitchener, Ontario, N2H4T3

0 beds0 baths4 parking ft²

46 Traynor Avenue, Kitchener, Ontario, N2C1V9

5 bd4 ba5 pk900 ft²Lot size 55 × 110 ft (6,033 sq ft)

Listed by CENTURY 21 MILLENNIUM INC.

376 South VICTORIA Street South, Kitchener, Ontario, N2M3A5

For saleJust listed

2 days ago

$819K

376 South VICTORIA Street South, Kitchener, Ontario, N2M3A5

4 bd3 ba6 pk2,400 ft²

Listed by RE/MAX Twin City Realty Inc.

55 ISAIAH Drive, Kitchener, Ontario, N2E0B2

For saleJust listed

4 days ago

$990K

55 ISAIAH Drive, Kitchener, Ontario, N2E0B2

4 bd4 ba4 pk3,563 ft²

Listed by RE/MAX Real Estate Centre Inc.

6 HILLSIDE Drive, Kitchener, Ontario, N2E1R2

For saleJust listed

5 days ago

$750K

6 HILLSIDE Drive, Kitchener, Ontario, N2E1R2

4 bd3 ba5 pk1,575 ft²

Listed by Re/Max Twin City Realty Inc.

Investment analysis

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$525,000

Kitchener

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Overview

This multi-family property in Kitchener is for sale offering roughly 1,800 sq ft of space. It has been on the market 20 days, fresher than the Kitchener average of 53 days.

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

Description

Legal duplex plus extra unit in a prime area, desirable East Ward. Perfect for entry level investors or adding to existing portfolio. The buyer may choose to live there since one unit is available now. 3 x 1 bedroom units each unit self contained. Recent renovation done including flooring,painting updated kitchen. Close to expressway and shopping,transit. Currently unit 1 pays $ 1144/month, unit 2 $1144/month plus projected rent for another 1 bedroom is $1400/month. Developer, builder opportunity to buy next door(93 Lancaster) so it makes good development project (id:66096)

Property Details

MLS®: 40871261
Property Type: Multi-family
Zoning: SGA-1
Bedrooms: 0
Bathrooms: 0
Parking: 4
Interior Size: 1,800 ft²
Frontage: 53 ft
Storeys: 2
Basement: Finished, Full
Heating: Forced air
Cooling: None
Ownership: Freehold
Property Tax: $3,133/yr
Listed: 20 days ago

Features

Foundation: Stone
Exterior: Brick Veneer

Services

Water: Municipal water
Sewer: Municipal sewage system

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

20d

Kitchener listings, avg age

53d

Price / ft²

$292

List price

$525K

Homes here sell faster than most markets

Sold homes in this market spent an average of 31 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 100.7 percent of their asking price over the past year, above the 96.4 percent median across the markets we publish.

Haho

This multi-family in Kitchener has been listed for 20 days, which is 33 days fresher than the city average of 53. Act while there is still low competition.

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Listed by RE/MAX Twin City Realty Inc. · Jafar Konoodi

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (N2H)

This home lists at $525,000, about 7.1× the local median household income of $73,500.

Carrying it typically needs a household income of about $102,551 (20% down, 25-yr amortization, stress-tested) — roughly 40% above the area median.

Median household income: $73,500
Population: 22,456
Median age: 38.4
Owner / renter: 49% / 51%
Avg. household size: 2.1

Source: Statistics Canada, 2021 Census (FSA N2H)

$525,000· $292/ft²

For sale

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Full Cost Breakdown

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Down Payment5.24% · $27,500

Min 5.24%50%

Mortgage payment$2,758/mo

↳ CMHC premium ($19,900 capitalized)

Property tax (est.)$261/mo

Total monthly$3,019

Cash Needed to Close

Down payment (5.24%)$27,500

Land transfer tax$6,975

Est. closing costs$4,075

Total cash needed$38,550

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