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Listed 1 month ago

557 Lake Street

443 - Lakeport, St. Catharines

$664,900

Detached|Bungalow
3 | 2 | 4
About this home

Welcome to 557 Lake St - a well-kept, income-generating 2-family home in the highly convenient north end of St. Catharines. This solid property features two spacious 3-bedroom units-one on the main level and one on the lower level-each offering generous living space and modern updates. The layout also allows the home to be easily converted back into a single-family residence if preferred, giving you exceptional flexibility. Step inside to find tastefully renovated interiors, including updated kitchens with stone countertops, refreshed bathrooms, and clean, contemporary finishes throughout. Bright, functional layouts make both units appealing to families and long-term tenants. With two separate hydro meters, each household manages its own usage-a great feature for investors. Both units are currently leased to families, providing immediate, steady rental income. Perfectly located near shopping, parks, transit, and top-rated schools including Eden High School, St. Francis Catholic Secondary, Parnall PS, Dalewood PS, and École Élémentaire L'Héritage, this property offers the ideal blend of convenience, size, and value. Whether you're expanding your rental portfolio, seeking a multi-family living solution, or wanting a home that can easily be returned to single-family use, 557 Lake St is a fantastic opportunity worth exploring.

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agent
Angela Montano
(647) 283-2643
TypeDetached
StyleBungalow
Approx. Age51-99
Size1100-1500 sq. ft.
Property Tax$4,650
Lot Size70.5 ft x 111.19 ft
mls© NumberX13588644
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%
$3,403
Property tax
$388
Heat allowance
$150
Housing costs
$3,941 / mo

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

Down payment20% · $132,980
25-yr amortization

Income needed

$121,000

gross annual household income

Payment at 4%
$2,798 / mo
Cash down
$132,980

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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