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Listed 2 months ago

172 Hanover Place

Vincent, Hamilton

$839,999

Detached|Bungalow-Raised
4 | 2 | 6
About this home

Welcome to 172 Hanover Place, this legal duplex offers incredible flexibility for homeowners and investors alike. 172 Hanover Place is a rare and exciting opportunity in the desirable Gershome neighbourhood of Hamilton. Situated on a quiet cul-de-sac. Whether you're looking to live in one unit and rent the other, house extended family, or expand your real estate portfolio, this property delivers on all fronts.Each unit is self-contained with its own entrance, offering privacy and strong rental potential. What truly sets this property apart is the inclusion of approved permits and architectural drawings for a detached garden suite-giving you the ability to add a third income-generating unit on the same lot. With the heavy lifting already done, you're one step away from maximizing the full potential of this property.Set on a spacious lot with a fully fenced backyard and ample private parking, the home is just minutes from scenic trails, parks, schools, public transit, and easy access to the Red Hill Valley Parkway. Thoughtfully updated and move-in ready, this is the ideal blend of functionality, location, and long-term upside.Don't miss your chance to own a legal duplex with garden suite potential in one of Hamilton's most sought-after communities. Schedule your private showing today.This property has full drawings for a garden suite and permits.

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agent
Angela Montano
(647) 283-2643
TypeDetached
StyleBungalow-Raised
Approx. Age31-50
Size700-1100 sq. ft.
Property Tax$2,025
Lot Size50 acres x 115 acres
mls© NumberX13504506
Listed ByRE/MAX REAL ESTATE CENTRE 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%
$4,299
Property tax
$169
Heat allowance
$150
Housing costs
$4,618 / mo

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

Down payment20% · $168,000
25-yr amortization

Income needed

$142,000

gross annual household income

Payment at 4%
$3,535 / mo
Cash down
$168,000

Assumes no other monthly debts · 25-yr amortization

Full affordability check

Investment Analysis

Estimated rent, cap rate and monthly cash flow for this property

Values and trends

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