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Listed 3 months ago

28 Grove Street

768 - Welland Downtown, Welland

$399,900

Detached|2 1/2 Storey
1 | 3 | 1
About this home

High-Yield Potential in the Heart of WellandAttention investors and house-hackers! This solid-brick 2-storey home at 28 Grove St offers an opportunity to build equity in a growing market. Currently configured as a duplex, this property features a 1-bedroom, 1-bath unit on the main floor and a sprawling upper unit with a flexible layout capable of accommodating up to 4 bedrooms.The building is rich with original character-think solid wood trim, pocket doors, and classic fireplace mantels-providing the perfect canvas for a modern renovation. With two hydro meters already in place, one gas meter, and a mix of on-lot and street parking, the infrastructure for a high-performing rental is here. Property sold "AS IS," making it the perfect project for those looking to add significant value. Roof replaced 2023

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Contact BrokerHub Inc..

BrokerHub Inc.
(647) 254-1864
TypeDetached
Style2 1/2 Storey
Approx. Age100+
Size1500-2000 sq. ft.
Property Tax$2,377
Lot Size31.7 ft x 92.3 ft
mls© NumberX13541174
Listed ByREAL BROKER ONTARIO LTD.

Listing History

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  • 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%
$2,047
Property tax
$198
Heat allowance
$150
Housing costs
$2,395 / mo

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

Down payment20% · $79,980
25-yr amortization

Income needed

$74,000

gross annual household income

Payment at 4%
$1,683 / mo
Cash down
$79,980

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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