15 WEST 1ST Street
Hamilton, Ontario
MLS® 40839056
$650,000
- Status
- Active
- Property type
- House
- MLS® number
- 40839056
- Bedrooms
- 6
- Bathrooms
- 2
- Year built
- 1949
1 / 37Listing description
LIVE IN IT. HOUSE HACK IT. CASH FLOW IT.
BUILD WEALTH WITH IT. This is the kind of property that rarely comes along - A beautiful, flexible home with incredible income potential just steps to Mohawk College, making it highly desirable for student rentals, multi-generational living, or savvy investors looking for strong returns. Whether you're an investor seeking cash flow, a buyer wanting mortgage-helping income, or a family planning for future appreciation, this property offers multiple strategies under one roof.
The home features a finished basement with a separate kitchen and bathroom, plus two generously sized bedrooms with legal windows, ideal for rental income, extended family, or a house-hack setup. The main level offers two spacious bedrooms, with two additional bedrooms upstairs, providing flexibility for room rentals, larger families, or maximizing income potential. Income potential that gets attention.
With proximity to Mohawk College and strong rental demand in the area, Individual rooms rent for approximately $950/month each in today's marker. The 2-bedroom basement offers rental potential of approximately $1,950/month. Depending on configuration and buyer strategy, the property may offer gross rental income potential approaching $8,000/month.
At this level of income, investors may see the potential for an estimated cap rate exceeding 9%, depending on expenses, financing & rental strategy. And the opportunity doesn't stop there. The large backyard offers future ADU (Accessory Dwelling Unit) potential, subject to municipal approvals, opening the door to additional monthly income potential and even stronger long-term returns.
Why buy a property that only appreciates when you can own one that has the potential to appreciate and produce meaningful income? Whether you choose to live in a part of it, rent rooms, create a student rental model, or expand future income opportunities, this is the property.
Property summary
- MLS® number
- 40839056
- Property type
- Single Family
- Building type
- House
- Square footage
- 1,100 sq ft
- Title
- Freehold
- Built in
- 1949
- Annual property taxes
- $3,679.00
- Parking
- 3 spaces
- Days on market
- 98 days
Features & details
- Heating
- Forced air, Natural gas
- Cooling
- Central air conditioning
- Basement
- Finished, Full
- Appliances
- Washer, Stove, Dryer
- Exterior features
- Aluminum siding
- Community features
- Quiet Area
What would this home cost you?
Based on the $650,000 asking price at a 5.00% example rate, semi-annual compounding.
Renanza Realty Inc. can represent you on this property — send an enquiry to arrange a private viewing.
Listing courtesy of Royal LePage State Realty Inc., Hamilton.
The listing data displayed here is provided in part by the Canadian Real Estate Association (CREA) through its Data Distribution Facility (DDF®) and is drawn from Boards and Associations across Canada. Information is deemed reliable but is not guaranteed accurate by CREA. The listings are held by brokerages other than Renanza Realty unless otherwise noted.
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by CREA and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos identify professional services rendered by REALTOR® members of CREA to effect the purchase, sale and lease of real estate as part of a cooperative selling system.