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Listed 1 month ago

5974 Scott Street E

211 - Cherrywood, Niagara Falls

$533,500

Detached|Bungalow
3 | 3 | 3
About this home

This detached bungalow offers incredible income potential and a fantastic opportunity to renovate and add major value. The main floor features a bright living room, kitchen, 3 bedrooms, and a full bath.The lower level boasts two self-contained suites, each with living area, kitchen, bedroom, and ensuite bath. While one unit is already occupied by excellent tenants willing to stay, the basement level requires some finishing renovations to maximize your rental income.The property also features a newer A/C, a large backyard, and parking for up to 4 cars. Fix it up, set your own rent, and watch your equity grow!Property sold "As Is". Seller and Listing Agent do not warrant the retrofit status of the basement.

Extras

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Contact Ephy directly.

agent
Ephy Bookbinder
(416) 838-4804
TypeDetached
StyleBungalow
Approx. Age51-99
Size1100-1500 sq. ft.
Property Tax$3,410
Lot Size50 ft x 110 ft
mls© NumberX13797030
Listed ByREVEL Realty Inc., 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%
$2,731
Property tax
$284
Heat allowance
$150
Housing costs
$3,165 / mo

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

Down payment20% · $106,700
25-yr amortization

Income needed

$97,000

gross annual household income

Payment at 4%
$2,245 / mo
Cash down
$106,700

Assumes no other monthly debts · 25-yr amortization

Full affordability check

Values and trends

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