$499,000

For sale

5145 Rice Crescent, Niagara Falls (Downtown) - Multi-family for Sale

5145 Rice Crescent, Niagara Falls (Downtown), Ontario, L2E4A1

5 beds4 baths3 parking1,300 ft²50 × 90 ft (4,500 sq ft) lot sizeListed 69 days ago

Overview

This multi-family property in Niagara Falls is for sale offering roughly 1,300 sq ft of space. It has been on the market 69 days, fresher than the Niagara Falls average of 88 days.

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Description

Strong investment opportunity with multiple income streams and excellent flexibility for investors or owner-occupants. This legal duplex features a spacious 2-bedroom main floor unit and a bright 1-bedroom upper unit, each with separate entrances. Additionally there is a lower-level living space with in-law potential offering separate entrance, kitchen, bathroom and two bedrooms. Coin laundry on site provides added revenue opportunity. Property offers parking for 3 vehicles and a low-maintenance backyard for tenant enjoyment. Centrally located in a convenient downtown area within walking distance to shopping, restaurants, amenities, and the Falls. Excellent opportunity to add value and maximize cash flow in a high-demand rental location. 24 hours notice required for all showings. (id:66096)

Property Details

MLS®: X13720124
Property Type: Multi-family
Zoning: R2
Bedrooms: 5
Beds (above / below): 3 above · 2 below
Bathrooms: 4
Parking: 3
Interior Size: 1,300 ft²
Lot Size: 50 × 90 ft (4,500 sq ft)
Frontage: 50 ft
Storeys: 2
Basement: Finished, Separate entrance, N/A, N/A
Heating: Forced air, Natural gas
Cooling: Central air conditioning
Garage: No Garage
Property Tax: $2,620/yr
Listed: 69 days ago

Rooms

Main level

Living room: 6.55 x 4.15 meters
Kitchen: 3.29 x 2.99 meters
Bathroom: 2.32 x 1.68 meters
Bedroom: 3.2 x 3.44 meters
Bedroom 2: 3.11 x 3.41 meters
Bathroom: 1.13 x 2.32 meters

Basement

Kitchen: 3.96 x 3.75 meters
Living room: 2.71 x 5.52 meters
Bathroom: 2.13 x 1.52 meters
Bedroom: 3.29 x 3.96 meters

Features

Appliances: Washer, Refrigerator, Stove, Dryer
Foundation: Block
Exterior: Steel, Aluminum siding

Services

Water: Municipal water
Sewer: Sanitary sewer

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

69d

Niagara Falls (Downtown) listings, avg age

88d

Price / ft²

$384

List price

$499K

Haho

This 5-bed multi-family in Niagara Falls (Downtown) has been listed for 69 days, which is 19 days fresher than the city average of 88. Act while there is still low competition.

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Listed by BOLDT REALTY INC., BROKERAGE · Michelle Chappell

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (L2E)

This home lists at $499,000, about 8.2× the local median household income of $60,800.

Carrying it typically needs a household income of about $97,472 (20% down, 25-yr amortization, stress-tested) — roughly 60% above the area median.

Median household income: $60,800
Population: 18,587
Median age: 46.4
Owner / renter: 61% / 39%
Avg. household size: 2.2

Source: Statistics Canada, 2021 Census (FSA L2E)

$499,000· $384/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.)$218/mo

Total monthly$2,847

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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