$499,000

For sale

292 FARES Street, Port Colborne - Multi-family for Sale

292 FARES Street, Port Colborne, Ontario, L3K1W8

3 beds2 baths2 parking1,731 ft²Listed 22 days ago

Overview

This multi-family property in Port Colborne is for sale offering roughly 1,731 sq ft of space. It has been on the market 22 days, fresher than the Port Colborne average of 91 days.

Multi-Family Properties for Sale in Port Colborne →All real estate in Port Colborne →

Description

Discover a RARE OPPORTUNITY with this LEGAL side-by-side DUPLEX. Ideal for homeowners and investors alike, this versatile property offers TWO compelling opportunities: live comfortably in one unit while generating rental income from the other to help offset mortgage costs, OR maximize your investment potential by renting both units at current market rates. Whether you're looking to combine lifestyle with income or build long-term wealth through rental revenue, this duplex delivers the flexibility to make your property work for you. Fully compliant with city safety and occupancy standards, this duplex features above-grade units, SEPARATE HYDRO METERS, and modern finishes including carpet-free flooring and stainless steel appliances. Peace of mind comes standard with ROOF (2018), FURNACE (2021), and AIR CONDITIONER (2021). Situated in a thriving community, this property offers close proximity to local amenities, schools, and transportation—making it highly attractive to tenants and future buyers alike. Add this to your FAVORITES as the perfect blend of comfortable living and built-in rental income—an opportunity to live well while your property helps pay the way. (id:66096)

Property Details

MLS®: 40871071
Property Type: Multi-family
Zoning: R3
Bedrooms: 3
Bathrooms: 2
Parking: 2
Interior Size: 1,731 ft²
Frontage: 39 ft
Units: 2
Year Built: 1900
Storeys: 2
Basement: Unfinished, Full
Heating: Forced air, Natural gas
Cooling: Central air conditioning
Ownership: Freehold
Property Tax: $2,750.35/yr
Listed: 22 days ago

Features

Foundation: Poured Concrete
Exterior: Aluminum siding, Vinyl siding
Lot Features: Sump Pump

Services

Water: Municipal water
Sewer: Municipal sewage system

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

22d

Port Colborne listings, avg age

91d

Price / ft²

$288

List price

$499K

Haho

This 3-bed multi-family in Port Colborne has been listed for 22 days, which is 69 days fresher than the city average of 91. Act while there is still low competition.

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Listed by Rock Star Real Estate Inc. · MARK L.A. GREENIDGE

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (L3K)

This home lists at $499,000, about 7.1× the local median household income of $70,000.

Carrying it typically needs a household income of about $97,472 (20% down, 25-yr amortization, stress-tested) — roughly 39% above the area median.

Median household income: $70,000
Population: 19,458
Median age: 50.8
Owner / renter: 73% / 27%
Avg. household size: 2.2

Source: Statistics Canada, 2021 Census (FSA L3K)

$499,000· $288/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.)$229/mo

Total monthly$2,857

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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