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Listed 2 months ago

70 Ward Avenue

Ainslie Wood, Hamilton

$629,000

Detached|1 1/2 Storey
6 | 2 | 0
About this home

ATTENTION INVESTORS: Rare, turnkey student housing goldmine in highly desirable Ainslie Wood, steps to McMaster University! This detached 1.5 storey investment property completely eliminates vacancy risk with a rock-solid, fully executed lease agreement guaranteed at $4,042/month until April 2027, PLUS tenants pay all the utilities and internet! This is the current tenants' 2nd year in the property and they have expressed an interest to renew again. Boasting a highly optimized, high-density layout featuring 6 +1 bedrooms and 2 bathrooms, with the option to have a living/common area in the basement with a separate entrance! This property generates an immediate, jaw-dropping 7.8%+ gross yield with zero initial lease costs, zero vacancy downtime, and total operational stability. Unbeatable location for student renters: steps to transit, campus, local dining, and shopping. This property is the perfect add-on for a sophisticated portfolio or an ideal entry point into high-density student housing. True cash-cow opportunities like this do not last. Do the math, check the location, and submit your best offer!

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agent
Macallum Tepsich
(647) 326-2579
TypeDetached
Style1 1/2 Storey
Approx. AgeNot available
Size1100-1500 sq. ft.
Property Tax$5,248
Lot Size25 ft x 100 ft
mls© NumberX13696882
Listed ByROYAL LEPAGE REAL ESTATE SERVICES LTD.

Listing History

  • No recent sale history for this listing.
  • No recent lease history for this listing.

Could you afford this home?

What the bank counts

This home's actual carrying costs, payment stress-tested at 6%

Mortgage, tested at 6%
$3,220
Property tax
$437
Heat allowance
$150
Housing costs
$3,807 / mo

Lenders cap these at 39% of gross income — that sets the number.

Down payment20% · $125,800
25-yr amortization

Income needed

$117,000

gross annual household income

Payment at 4%
$2,647 / mo
Cash down
$125,800

Assumes no other monthly debts · 25-yr amortization

Full affordability check

Investment Analysis

Estimated rent, cap rate and monthly cash flow for this property

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