487 Cannon Street E
Hamilton (Gibson), ON L8L 2E5
- 5+1Bedrooms
- 4Bathrooms
- 2Parking
- 2000–2500Sq Ft
- $3,474Tax
- 20×95 ftLot Size
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About 487 Cannon Street E, Hamilton, Gibson
Welcome to this meticulously maintained 4-unit investment property, offering exceptional cash flow and long-term appreciation potential. Featuring three 1-bedroom units and one 2-bedroom unit, this turnkey asset generates $52 860 in annual gross rent with very low operating expenses; investors can achieve great positive cash flow, a rare find in today's market! Tenants are paying market rents and in good standing, ensuring stable, hassle-free income. Recent updates include a new roof and fence (2018), interior waterproofing, new concrete walkway, plumbing upgrades, window replacements, door updates, and tree trimming see the full list of improvements in the attachments. With extensive maintenance completed, this is a prime, low-maintenance investment in a high-demand rental market. Upside potential exists with interior cosmetic updates, making this an ideal opportunity for savvy investors looking for both immediate income and long-term growth. Financials attached. Offers welcome anytime!
Key Facts & Features
Property Costs
- Annual Property Tax Amount
- $3,474
- Land Transfer Tax Fee
- $10,475
Rental Items
- Rental Equipment
- Hot water tank
- Basement Type
- Apartment, Finished
Interior Features
- Laundry Level
- Lower Level
- Interior Extras
- None
- Fireplace/Stove
- No
- Elevator
- No
Exterior Features
- Pool
- None
- Property Features
- Hospital, Park, Public Transit, Place Of Worship, Rec./Commun.Centre, School
Building
- Building Type
- Multiplex
- Building Style
- 2 1/2 Storey
Construction
- Exterior Finish
- Brick
- Roof
- Asphalt Shingle
- Foundation Details
- Concrete
- Special Designation
- Unknown
Lot
- Lot Front
- 20.00 ft
- Lot Depth
- 95.00 ft
Inclusions
- Inclusions
- Fridge x3, stove x4, Electrical light fixtures.
Exclusions
- Exclusions
- Tenant belongings
Parking & Garages
- Garage Type
- None
- Garage Spaces
- 2
- Parking Spaces
- 2
- Total Garage And Parking Spaces
- 2
Heating & Cooling
- Heat Source
- Gas
- Heat Type
- Forced Air
- Air Conditioning
- None
- Water
- Municipal
- Sewers
- Sewer
- Bedrooms
- 5 + 1
- Washrooms
- 4
- Kitchens
- 4
Washrooms
- 4-piece, Basement
- 4-piece, Second
- 4-piece, Main
- 4-piece, Third
- Municipality
- Hamilton
- Neighbourhood
- Gibson
- Main cross streets
- Sanford Ave N/Cannon St E
- Directions
- Wentworth St North, right on Cannon St E.
- MLS® number
- X12219524
- Data source
- Toronto Regional Real Estate Board
- Status change
- 2025-11-30
- Listed on
- 2025-06-13
- Days on market
- 170 days
- Possession type
- Immediate
- Co-op commission
- 2.5% plus HST
- Seller
- Listed by
- RIGHT AT HOME REALTY
Home Market Value
Current home valuation for 487 Cannon Street E, Hamilton, Gibson, Hamilton, ON. Listed for $699,999
HOMEH Estimate
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Estimated Sales Range
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HOMEH Estimate for 487 Cannon Street E, Hamilton, Gibson
Calculated with a real agent's CMA method — 45+ years of experience, codified. Not an AI guess.
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Mortgage Payment Calculator
Compare up to 4 down payment scenarios
5% on first $500K + 10% on $199,999 over $500K
$45,000
| Scenario 1 | Scenario 2 | Scenario 3 | Scenario 4 | |
|---|---|---|---|---|
−Down payment | % $ | % $ | % $ | % $ |
+CMHC insurance | $26,180 | $19,530 | $16,660 | $0 |
=Total mortgage | $680,679 | $649,529 | $611,659 | $559,999 |
Amortization | ||||
Mortgage rate | % | % | % | % |
| Payment frequency | ||||
=Mortgage payment | $3,323monthly | $3,171monthly | $2,986monthly | $2,734monthly |
Land Transfer Tax
$10,475
$10,475
Around this home
Data provided by OpenStreetMap & Fraser Institute School Rankings
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