$299,900

For sale

21 Fifth Street, Welland (Lincoln/Crowland) - Multi-family for Sale

21 Fifth Street, Welland (Lincoln/Crowland), Ontario, L3B4Z4

4 beds2 baths0 parking1,300 ft²27 × 165 ft (4,455 sq ft) lot sizeListed 57 days ago

Overview

This multi-family property in Welland is for sale offering roughly 1,300 sq ft of space. It has been on the market 57 days, fresher than the Welland average of 73 days.

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

Description

Selling under - Power of Sale. Excellent opportunity for investors, renovators, and value-add buyers in Welland. This legal two-storey duplex offers two separate two-bedroom units, two kitchens, four bedrooms, and two bathrooms in total. The home can also be easily converted into a single family home. Each unit has potential rental income of approximately $1,600 to $1,700 per month, for a combined monthly income of up to $3,400. The property is vacant, allowing for immediate renovations and tenant placement. Features include two rented on-demand hot water heaters, a mutual driveway, and street parking. Conveniently located near parks, schools, shopping, restaurants, the Welland Canal, and Welland's recreational waterway. Property is being sold as is. Motivated seller, offers welcome anytime! (id:66096)

Property Details

MLS®: X13757410
Property Type: Multi-family
Bedrooms: 4
Beds (above / below): 2 above · 2 below
Bathrooms: 2
Half Baths: 1
Parking: 0
Interior Size: 1,300 ft²
Lot Size: 27 × 165 ft (4,455 sq ft)
Frontage: 27 ft
Storeys: 2
Basement: Crawl space
Heating: Forced air, Natural gas
Cooling: None
Garage: No Garage
Property Tax: $1,959/yr
Listed: 57 days ago

Features

Foundation: Block
Exterior: Vinyl siding

Services

Water: Municipal water
Sewer: Sanitary sewer

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

57d

Welland (Lincoln/Crowland) listings, avg age

73d

Price / ft²

$231

List price

$300K

Haho

This 4-bed multi-family in Welland (Lincoln/Crowland) has been listed for 57 days, which is 16 days fresher than the city average of 73. Act while there is still low competition.

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Listed by RE/MAX NIAGARA REALTY LTD, BROKERAGE · Sheraz Ahmad

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (L3B)

This home lists at $299,900, about 4.5× the local median household income of $66,500.

Carrying it typically needs a household income of about $58,581 (20% down, 25-yr amortization, stress-tested) — within reach of the area median.

Median household income: $66,500
Population: 25,869
Median age: 43.2
Owner / renter: 66% / 35%
Avg. household size: 2.3

Source: Statistics Canada, 2021 Census (FSA L3B)

$299,900· $231/ft²

For sale

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Full Cost Breakdown

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Down Payment5% · $14,995

Min 5%50%

Mortgage payment$1,580/mo

↳ CMHC premium ($11,396 capitalized)

Property tax (est.)$163/mo

Total monthly$1,743

Cash Needed to Close

Down payment (5%)$14,995

Land transfer tax$2,974

Est. closing costs$3,400

Total cash needed$21,369

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