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7302 - Meadowlands/Crestview, Meadowlands - Crestview and Area
$795,000
Welcome to 125 Norice St, a beautifully maintained bungalow set on an oversized lot in a highly convenient central location. This is a rare turnkey opportunity that combines strong rental income, immediate cash flow, and outstanding long-term upside. The main-floor unit is bright, inviting, and thoughtfully designed with an open-concept layout that enhances both space and flow. The modern kitchen offers generous cabinetry and workspace, seamlessly connecting to the spacious living room and adjoining dining area-perfect for everyday living or entertaining. Three well-proportioned bedrooms, a full bathroom, and convenient in-unit laundry complete this level. The fully finished lower-level, non-conforming Secondary Dwelling Unit (SDU) features its own private entrance and a well-designed open-concept kitchen, dining, and living area. With comfortable bedrooms, a full bathroom, and separate laundry, this unit is fully self-contained and highly functional. Whether used for rental income, extended family living, or personal flexibility, it offers exceptional versatility. This property is already a proven income generator, producing approximately $4,500 per month in total rental income, with $2,500 from the upper unit and $2,000 from the lower unit. In addition, wide driveway, 2-car separate garage, and strong curb appeal. The expansive oversized lot provides abundant outdoor space and also presents exciting potential for future development or expansion, subject to municipal approvals. Whether you're an investor seeking a reliable cash-flowing asset, a homeowner looking to significantly offset your mortgage, or a buyer in need of a flexible multi-generational setup, 125 Norice St delivers on every level. Located close to schools, parks, shopping, public transit, and everyday amenities, this property offers the perfect blend of comfort, convenience, and investment. Pre-Inspection report available by owner upon request.
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| Type | Detached |
| Style | Bungalow |
| Approx. Age | Not available |
| Size | 700-1100 sq. ft. |
| Property Tax | $4,761 |
| Lot Size | 146 ft x 170 ft |
| mls© Number | X13674054 |
| Listed By | GRAPE VINE REALTY INC. |
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%
- $4,069
- Property tax
- $397
- Heat allowance
- $150
- Housing costs
- $4,616 / mo
Lenders cap these at 39% of gross income — that sets the number.
Income needed
$142,000
gross annual household income
- Payment at 4%
- $3,345 / mo
- Cash down
- $159,000
Assumes no other monthly debts · 25-yr amortization
Full affordability checkInvestment Analysis
Estimated rent, cap rate and monthly cash flow for this property
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