12 Mayflower Avenue, Hamilton - $505,000 | Modern Solution Realty

12 Mayflower Avenue, Hamilton

12 Mayflower Avenue, Hamilton

12 Mayflower Avenue in Hamilton - 4 bedroom, 2 bathroom. Listed at $505,000.

12 Mayflower Avenue, Hamilton is an investment property within a portfolio. A single detached home operated as a four-room rental, offered at a 5.61% in-place cap rate on current rents. This fully-tenanted property generates $36,000 in gross annual rent and $28,334 NOI at an asking price of $505,000.The home is configured with 3 bedrooms and a bath upstairs and 1 bedroom on the main floor, plus a bathroom in the basement. Three tenants pay $750/month each in cash rent, while the fourth room is occupied by a tenant who performs maintenance and repairs in lieu of cash rent, valued at the same $750/month - gross rent is shown inclusive of this in-kind arrangement. This property carries the lowest operating-expense load in the portfolio, so every additional dollar of room rent converts to NOI at an unusually high rate. One of the four rooms is already month-to-month, with the remainder repositionable to market as tenancies turn. The detached home sits on its own lot, offering a new owner long-term flexibility - whether continued as a room rental, converted to a single-family lease, or held for appreciation.

Property Details

  • Property Type: Mortgage
  • Style: 2-Storey
  • Square Footage: 1300 sqft
  • Basement: Unfinished
  • Heating: Gas
  • Cooling: Central Air
  • Parking: 1 space
  • Property Taxes: $2,280/yr
  • Neighbourhood: Crown Point
  • Postal Code: L8L 2K4

View photos, details, and schedule a showing with Modern Solution Realty. 1% commission listing services available.