$649,000

For sale

5166 Morrison Street, Niagara Falls (Cherrywood) - Multi-family for Sale

5166 Morrison Street, Niagara Falls (Cherrywood), Ontario, L2E2E4

7 beds3 baths3 parking1,750 ft²33 × 120 ft (3,912 sq ft) lot sizeListed 21 days ago

Overview

This multi-family property in Niagara Falls is for sale offering roughly 1,750 sq ft of space. It has been on the market 21 days, fresher than the Niagara Falls average of 77 days.

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Description

Great Investment property is waiting for you, Live your own or rent it. Legal Duplex five bedrooms home with additional two-Bedrooms Basement, located in a prime central Niagara Falls location close to shopping, schools, parks, tourist attractions, and all amenities. Featuring three bedrooms on the main floor, a spacious living room, and a large size family room. The upper level has 2 bedrooms, one of the bedrooms, which is a full height of attic space, you will love it. The finished basement includes a family room, kitchen, bathroom, and laundry room with two Bed rooms offering excellent in-law suite or income potential. This property could truly shine perfect for investors, renovators, or buyers looking to customize their dream home. Gross Rental Income is $4120/month, Tenants Would Like To Stay. (id:66096)

Property Details

MLS®: X14031054
Property Type: Multi-family
Zoning: R2
Bedrooms: 7
Beds (above / below): 5 above · 2 below
Bathrooms: 3
Parking: 3
Interior Size: 1,750 ft²
Lot Size: 33 × 120 ft (3,912 sq ft)
Frontage: 33 ft
Storeys: 2
Basement: Finished, N/A
Heating: Forced air, Natural gas
Cooling: Central air conditioning, Wall unit
Garage: Detached Garage, Garage
Property Tax: $4,004.95/yr
Listed: 21 days ago

Rooms

Main level

Kitchen: 3.5 x 4.1 meters
Living room: 3.3 x 4.4 meters
Family room: 3.2 x 4.7 meters
Bedroom: 3.1 x 3.8 meters
Bedroom 2: 2.8 x 3.2 meters
Bedroom 3: 2.8 x 3.3 meters

Lower level

Kitchen: 3.3 x 7 meters
Bedroom: 3.2 x 4.3 meters
Bedroom 2: 2.3 x 6.3 meters
Living room: 2.25 x 3.3 meters

Features

Appliances: Washer, Refrigerator, Stove, Dryer
Foundation: Concrete, Poured 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

21d

Niagara Falls (Cherrywood) listings, avg age

77d

Price / ft²

$371

List price

$649K

Haho

This 7-bed multi-family in Niagara Falls (Cherrywood) has been listed for 21 days, which is 56 days fresher than the city average of 77. Act while there is still low competition.

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Listed by CENTURY 21 GREEN REALTY INC. · SUKHDEV THAPAR

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (L2E)

This home lists at $649,000, about 10.7× the local median household income of $60,800.

Carrying it typically needs a household income of about $126,772 (20% down, 25-yr amortization, stress-tested) — roughly 109% 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)

$649,000· $371/ft²

For sale

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Full Cost Breakdown

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Down Payment6.15% · $39,900

Min 6.15%50%

Mortgage payment$3,377/mo

↳ CMHC premium ($24,364 capitalized)

Property tax (est.)$334/mo

Total monthly$3,711

Cash Needed to Close

Down payment (6.15%)$39,900

Land transfer tax$9,455

Est. closing costs$4,447

Total cash needed$53,802

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