$439,900

For sale

58 WELLINGTON Street, Port Colborne - Multi-family for Sale

58 WELLINGTON Street, Port Colborne, Ontario, L3K2J7

3 beds2 baths2 parking1,384 ft²Listed 53 days ago

Overview

This multi-family property in Port Colborne is for sale offering roughly 1,384 sq ft of space. It has been on the market 53 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

Excellent opportunity for investors, first-time buyers or those looking to live in one unit and have a tenant help with the mortgage. This well-maintained two-unit home in Port Colborne features a spacious main-floor 2-bedroom unit with a 3-piece bath, in-unit laundry, sundeck and access to the backyard. The second-floor 1-bedroom unit offers a kitchen, 4-piece bath and separate living space. Both units feature separate front entrances and dedicated parking. The main floor is currently vacant, providing flexibility for an owner-occupier or new tenant. Great Cashflow potential and an attractive opportunity for homeownership or long-term investment. (id:66096)

Property Details

MLS®: 40863061
Property Type: Multi-family
Zoning: R2
Bedrooms: 3
Bathrooms: 2
Parking: 2
Interior Size: 1,384 ft²
Frontage: 33 ft
Units: 2
Year Built: 1916
Storeys: 2
Basement: Unfinished, Crawl space
Heating: Forced air, Natural gas
Cooling: Central air conditioning
Ownership: Freehold
Property Tax: $3,075/yr
Listed: 53 days ago

Features

Exterior: Vinyl siding

Services

Water: Municipal water
Sewer: Municipal sewage system

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

53d

Port Colborne listings, avg age

91d

Price / ft²

$318

List price

$440K

Haho

This 3-bed multi-family in Port Colborne has been listed for 53 days, which is 38 days fresher than the city average of 91. Act while there is still low competition.

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Listed by Coldwell Banker Community Professionals · Nigel Garcia

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (L3K)

This home lists at $439,900, about 6.3× the local median household income of $70,000.

Carrying it typically needs a household income of about $85,928 (20% down, 25-yr amortization, stress-tested) — roughly 23% 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)

$439,900· $318/ft²

For sale

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Full Cost Breakdown

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Down Payment5% · $21,995

Min 5%50%

Mortgage payment$2,317/mo

↳ CMHC premium ($16,716 capitalized)

Property tax (est.)$256/mo

Total monthly$2,573

Cash Needed to Close

Down payment (5%)$21,995

Land transfer tax$5,273

Est. closing costs$3,820

Total cash needed$31,088

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