188-190 CAROLINE STREET S, Hamilton (Durand)

$1,099,000

For sale: Multiplex

Multiplex at 188-190 CAROLINE STREET S, Hamilton (Durand)
Property type
Fourplex
Bedrooms / bathrooms
7 bedrooms, 5 bathrooms
Living area
3,500 sqft
MLS®
MLS® X13828766
Neighbourhood
Durand

6.5% cap rate. $91,650 in annual rent from four leased units in Hamilton's popular Durand Neighbourhood. You get a legal 4-plex built, fully tenanted, producing $75,189 in net operating income. All four tenants pay their own hydro, so your utility exposure stays small and easy to predict. The expensive work is already behind you. Parapet walls and chimney have been re-built, and the water line has been upgraded to 3/4" copper. 4 car parking sits at the rear. The unit mix protects your income: one 3 bedroom, one 2 bedroom, two 1 bedrooms. Four separate tenancies means no single vacancy takes out your cash flow. Each unit has kept its own character, which is what holds good tenants in place. Walk to Locke St S, James St S, Hess Village, St. Joseph's Hospital, downtown Hamilton, transit, parks and schools. Durand is one of the tightest rental pockets in the city, on a quiet tree-lined street. Two of the four rents are under market so there's upside for the future in the numbers. Book your showing this week.

Sold data

Homes in Durand — recent sold market

Homes in Durand took a median of 52 days to sell over the last 365 days, with the quickest quarter selling within 22 days and the slowest quarter taking more than 93, across 57 recorded sales.

That clock counts only the listing each home finally sold on. Measured from the first time these properties came to market, including any earlier listings that were withdrawn and re-entered, the median is 89 days.

The median sale price was $455,000.

Homes sold for about 5.0% below asking on average, so there was room to negotiate.

About 4% of sales closed above the list price.

Around 33% of sellers reduced their price before finding a buyer.

Median days to sell
52
Median sale price
$455,000
Sale-to-list ratio
95.0%
Sold above asking
4%

Based on 57 recorded sales in the last 1 year — a small sample, so treat these figures as indicative. Aggregate statistics only; individual sale prices are not shown.

Schools

Schools in Hamilton (Durand)

Hamilton (Durand) has 130 Fraser Institute–rated schools (108 elementary and 22 secondary), averaging 5.6/10.

Rated schools
130
Elementary
108
Secondary
22
Average rating
5.6 / 10

Top-rated schools in Hamilton (Durand)

  • Corpus Christi — elementary, HamiltonFraser rating 10.0/10
  • Norwood Park — elementary, HamiltonFraser rating 8.4/10
  • Pope John Paul II — elementary, HamiltonFraser rating 8.0/10
  • Our Lady of Lourdes — elementary, HamiltonFraser rating 7.3/10
  • Westmount — secondary, HamiltonFraser rating 7.3/10
  • Sacred Heart — elementary, HamiltonFraser rating 7.2/10

School ratings from the Fraser Institute's Ontario school report cards.

Currently for sale

Homes for sale near 188-190 CAROLINE STREET S