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Listed 4 months ago

115 King Street E

Stoney Creek, Hamilton

$505,000

Detached|2-Storey
4 | 3 | 3
About this home

Excellent opportunity in prime Olde Stoney Creek location, steps to schools, shopping and transit! The huge 56 X 197 foot lot is perfect to build your dream home. The existing house itself is in a state of neglect and disrepair and requires significant renovation and restoration. Ideal for a contractor or handyman/first-time buyer with the resources to bring it back to life. Current improvements include a steel roof, furnace, and central air (2018). The rear yard itself, while overgrown, boasts numerous fruit trees and shrubs (apple, plum, cherry, pear) and berry bushes. Due to the current condition of the property, it is not safe to walk through the house and the property is being sold "As-Is, Where-Is) with no representations or warranties regarding its condition or potential uses.

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agent
Angela Montano
(647) 283-2643
TypeDetached
Style2-Storey
Approx. Age51-99
Size1500-2000 sq. ft.
Property Tax$5,083
Lot Size56.1 ft x 197.2 ft
mls© NumberX13027680
Listed ByRE/MAX ESCARPMENT 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%
$2,585
Property tax
$424
Heat allowance
$150
Housing costs
$3,158 / mo

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

Down payment20% · $101,000
25-yr amortization

Income needed

$97,000

gross annual household income

Payment at 4%
$2,125 / mo
Cash down
$101,000

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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