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Listed 29 days ago

5365 Portage Road

211 - Cherrywood, Niagara Falls

$489,000

Detached|1 1/2 Storey
3 | 3 | 8
About this home

Don't miss this chance to secure a flexible, income-generating property with room to expand. This property offers a unique opportunity for investors seeking rental income, workshop space, and long-term potential all within city limits. Close to Hwy, Hospital, Fall, Police Headquarters, this property is set on a large, private lot off Portage Road. , The house is partially hidden from the street offering a rare sense of seclusion. . A long private driveway provides access to multiple parking areas and a 24 x 24 insulated Quonset garage, ideal for storage, a workshop, or rental to tradespeople and small business operators. The home features: 3 bedrooms, 2.5 bathrooms, Open-concept main floor with living, dining, and kitchen. Main floor bedroom & powder room, Sunroom, mudroom, and rear deck. Hardwood flooring. The basement offers a separate entrance, a recreation room, 3-piece bathroom, laundry, and high ceilings providing potential for conversion to a secondary suite. Bonus Value: Currently tenanted, at $2250 with utilities paid by tenant, generating income from day one. The Quonset garage offers additional income potential as a rental workspace. Massive lot with fenced area, multiple parking spots, and room for equipment. Strategically located close to major highways, U.S. border, hospital, tourist attractions, and shopping, this property is ideal for a live/work setup or as part of an investment portfolio.

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BrokerHub Inc.
(647) 254-1864
TypeDetached
Style1 1/2 Storey
Approx. AgeNot available
Size1100-1500 sq. ft.
Property Tax$3,097
Lot Size63.8 ft x 175 ft
mls© NumberX13812322
Listed ByQUANTUM TEAM REALTY

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%
$2,503
Property tax
$258
Heat allowance
$150
Housing costs
$2,911 / mo

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

Down payment20% · $97,800
25-yr amortization

Income needed

$90,000

gross annual household income

Payment at 4%
$2,058 / mo
Cash down
$97,800

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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