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Listed 25 days ago

129 Margaret Avenue

Stoney Creek, Hamilton

$949,000

Detached|Backsplit 4
4 | 2 | 6
About this home

A rare opportunity in one of Stoney Creek's quiet, established neighbourhoods! Custom-designed and built in 1979 for the original owners, this exceptionally solid and lovingly maintained home reflects true pride of ownership. Most major improvements were completed around 2008, while the roof, windows, exterior doors and garage doors remain in very good condition. Set on an impressive 86 x 175 ft lot and surrounded by attractive newer custom homes, the property offers outstanding possibilities. Buyers may explore severance into two approximately 43 x 175 ft building lots, subject to Committee of Adjustment and all municipal approvals. At roughly $450,000 per potential lot, the land value alone presents a compelling opportunity. The existing home also offers excellent multi-generational or investment potential, with the possibility of creating up to three independent living areas, each with its own entrance, subject to required permits and approvals. The partially finished basement has separate access through stairs from the garage. Estimated potential gross rental income could reach approximately $7,000 per month once properly configured and approved. Enjoy a peaceful setting close to schools, shopping, parks, Downtown Stoney Creek, Confederation GO Station and the Lake Ontario waterfront, with quick access to the QEW for easy travel toward Hamilton, Burlington, Toronto or Niagara. Live in it, rent it, renovate it, or explore the redevelopment potential-this is the kind of property that rarely comes to market.

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agent
Angela Montano
(647) 283-2643
TypeDetached
StyleBacksplit 4
Approx. AgeNot available
Size1500-2000 sq. ft.
Property Tax$6,266
Lot Size86 ft x 175 ft
mls© NumberX13606342
Listed BySUTTON GROUP QUANTUM 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%
$4,857
Property tax
$522
Heat allowance
$150
Housing costs
$5,530 / mo

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

Down payment20% · $189,800
25-yr amortization

Income needed

$170,000

gross annual household income

Payment at 4%
$3,994 / mo
Cash down
$189,800

Assumes no other monthly debts · 25-yr amortization

Full affordability check

Investment Analysis

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

Values and trends

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