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Ainslie Wood, Hamilton
$699,000
Excellent investment opportunity just approximately a two-minute walk to McMaster University! Currently operated as a furnished student rental, Currently generating approximately $5,800 in gross monthly rental income, as reported by the seller. Spacious layout offers 8 bedrooms: 3 upstairs, 3 on the main floor and 2 on the lower level-plus 3 renovated bathrooms, a main floor kitchen and basement kitchen. Finished basement includes laundry and storage. Extensively renovated since 2017, with approximately $100,000 invested in improvements, including flooring, most windows and doors, plumbing, electrical wiring, 100 Amp electrical panel and LED lighting. Roof shingles replaced approximately two years ago. Additional features include an upgraded enclosed front porch, front interlock, backyard deck, fencing and garden shed. Three entrances include basement access to the backyard, with additional backyard access from Ward Avenue and Leland Avenue. Owned furnace, central air conditioner and XL hot water tank. Conveniently located close to campus and everyday amenities..
No extras listed.
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| Type | Detached |
| Style | 2-Storey |
| Approx. Age | Not available |
| Size | 1100-1500 sq. ft. |
| Property Tax | $5,388 |
| Lot Size | 25 ft x 100 ft |
| mls© Number | X13880680 |
| Listed By | ROYAL LEPAGE IGNITE 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%
- $3,578
- Property tax
- $449
- Heat allowance
- $150
- Housing costs
- $4,177 / mo
Lenders cap these at 39% of gross income — that sets the number.
Income needed
$129,000
gross annual household income
- Payment at 4%
- $2,942 / mo
- Cash down
- $139,800
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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