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Listed 1 month ago

18 Phelps Street

456 - Oakdale, St. Catharines

$999,000

Detached|Bungalow
3 | 1 | 4
About this home

**Prime Development Opportunity - Exceptional Investment Potential**Rare opportunity to acquire a strategically located development property with significant upside potential. This site offers the possibility to develop approximately **4 to 6 townhouse units** (subject to municipal approvals and due diligence), making it an ideal project for builders, developers, and investors seeking to capitalize on the growing demand for quality residential housing.The property features a desirable location with convenient access to schools, shopping, parks, major transportation routes, and community amenities. Its configuration and size provide excellent flexibility for a townhouse development while maximizing land utilization and future value.Whether you're looking to expand your development portfolio or undertake your next residential project, this property presents an outstanding opportunity to create modern, high-demand housing in a sought-after area. Opportunities of this nature are increasingly difficult to find-don't miss your chance to secure a promising development site with substantial future potential. (The existing property is being sold in "as is, where is" condition, with no representations or warranties by the Seller.)

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agent
Angela Montano
(647) 283-2643
TypeDetached
StyleBungalow
Approx. AgeNot available
Size1100-1500 sq. ft.
Property Tax$3,903
Lot Size130.9 ft x 133.9 ft
mls© NumberX13570884
Listed ByRE/MAX NIAGARA REALTY LTD, BROKERAGE

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%
$5,113
Property tax
$325
Heat allowance
$150
Housing costs
$5,589 / mo

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

Down payment20% · $199,800
25-yr amortization

Income needed

$172,000

gross annual household income

Payment at 4%
$4,204 / mo
Cash down
$199,800

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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