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$759,000
Available - For Sale
Listing ID: X12054365
This is a great opportunity to own a home that you can live in and either lease the main floor to a professional business while you enjoy 2 floors as your home, or use the main floor for your own business. This is a different kind of ownership that has more upfront cost, but the payoff could be huge in future by having a home and business in one building, or allowing a professional business tenant to help pay down the mortgage. This property has the best of both worlds being on the edge of commercial Upper James St and the edge of a great residential area with large Bruce Park just down the street. The down payment is higher at 35% - 50% and because it is mixed-use residential/commercial and HST is applied to the purchase price. These costs are the "cost of doing business" for this kind of investment home/business and ownership. Current owners ran a professional business in the home for over a decade, and, as such, the property has been well cared for. Previous ownership used the home as alive/work environment whereby the main floor was a doctor's office and the owner lived on the 2nd and lower level. Great location just off of Upper James St on Hamilton mountain, commercial zoning, could be live/work or a mixed commercial/residential, buy and hold opportunity for investors. New roof (shingles and plywood) November 2023. Freshly painted throughout. Updates in 2nd floor bathroom August 2024 (tub added and sink replaced) and kitchen includes eat-at counter station, stove added, light fixture replaced, and new fridge August 2024.)
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Asking Price: $ Heating: $ /Year  
Interest Rate: % Condo Fee: $ /Year
Taxes:   $ /Year Other Debt: $ /Year  
Amortization:     Years GDS: %
    TDS: %
Percent Down:
Down Payment $37,950 $75,900 $113,850 $151,800
First Mortgage $721,050 $683,100 $645,150 $607,200
CMHC/GE $19,828.88 $13,662 $11,290.13 $0
Total Financing $740,878.88 $696,762 $656,440.13 $607,200
Monthly P&I $3,173.13 $2,984.18 $2,811.48 $2,600.59
Expenses $0 $0 $0 $0
Total Payment $3,173.13 $2,984.18 $2,811.48 $2,600.59
Income Required $118,992.25 $111,906.66 $105,430.58 $97,522.14

This chart is for demonstration purposes only. Always consult a professional financial advisor before making personal financial decisions.

Although the information displayed is believed to be accurate, no warranties or representations are made of any kind.
ROYAL LEPAGE STATE REALTY

15 Empress Aven , Hamilton, L9A 1M1, Hamilton

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MD Ashraful Bari
Broker
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647.406.6653
Bus:
905.201.9977
Fax:
905.201.9229

 
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At a Glance:
Type: Freehold - Detached
Area: Hamilton
Municipality: Hamilton
Neighbourhood: Centremount
Style: 2-Storey
Lot Size: x 116.20(Feet)
Approximate Age: 51-99
Tax: $7,522
Maintenance Fee: $0
Beds: 2
Baths: 3
Garage: 0
Fireplace: Y
Air Conditioning:
Pool: None
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Personal Pic MD Ashraful Bari Broker HomeLife/Future Realty Inc, Brokerage Independently owned and operated. pic Cell: 647.406.6653 | Office: 905.201.9977
MD Ashraful Bari
BROKER

Cell: 647.406.6653
Office: 905.201.9977
Fax: 905.201.9229

  Email Us

HomeLife/Future Realty Inc., Brokerage
Independently owned and operated.
205-7 Eastvale Drive
Markham, ON L3S 4N8

 

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