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$850K · 7 bed Multiplex · Gibson, Hamilton | MyPropertyScout

$849,999

585 Cannon Street

225 DOM

76225d

Map

⚡ Insider Deal

DOM 225

↓ $87KMotivated SellerPrice Reduced

$849,999

↓ $87KMotivated Seller

DOM225days

585 Cannon Street

Hamilton · Ontario L8L 2G6

MLS® X12568826 · Gibson · L8L 2G6

76TenantOccupied2000-2500 ft²MultiplexNoneApartment, Separate Entrance225d$378/ft²Lot 16.2 x 60.2 ft$3,743 tax/yrApartment, Separate Entrance

Neighbourhood Range

Scoring based on Property Scout Neighbourhood Intelligence — use as guidance only, sometimes it's not so intelligent 👍

About this home

Residential property with 6 units, investment property with Electrical(200Amp), GROSS income over 50K per YEAR. GOOD TENANT PROFILE with stable rent income.

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MyStreetValue™ Analysis

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Property details

MLS#: X12568826
Status: Buy Now
Property class: Residential Freehold
Beds: 7
Baths: 6 full, 0 half
Rooms: 14
Kitchens: 6
Size: 2000-2500Exact finished sqft not on MLS feed (often MPAC-only on broker systems)
Basement: Apartment, Separate Entrance
Style: Other
Type: Multiplex
Year built: —Year built not on MLS feed (often MPAC-only on broker systems)

Roll / ARN: 251803023652950

Occupancy: Tenant Occupied
Washrooms: 3 pc · Ground; 3 pc · Second; 3 pc · Third; 3 pc · Basement
Family room: No
Central vacuum: No
Ensuite laundry: No

Roof: Other
Foundation: Other

Garage: None
Garage spaces: 0
Parking: 0 total
Lot: 16.2 × 60.16
Heating: Forced Air
Heating fuel: Gas
Cooling: Window Unit(s)
Fireplaces: —
Pool: No
Waterfront: No
Exterior: Brick
Fronting on: South
Cross street: CANNON ST & CHESTNUT AVE
Stories: —
Utilities: —
Laundry: —
Interior: None
Parking features: None

Additional listing data

ListAOR: Toronto Regional Real Estate Board

Rooms

Room dimensions are not available for this listing.

Seller signals

Price movement & seller pressure

↓ $87KPrice reduction

MLS shows the seller reduced the asking price by $86,667 (from $936,666 to $849,999).

Motivated SellerWhy this label

225 days on market — Listing has been active for 225 days — extended time on market can signal seller pressure.

Labels reflect MLS fields and listing history in our database — not an opinion on fair market value.

Property history

Sales History

NEW

Property sales history

Location details

Comparable sales

Neighbourhood stats

Brokered by: CENTRAL WORLD REALTY

Source: TRREB/PROPTX · MLS® X12568826

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$850K

585 Cannon Street · Bryon Bertrim

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Annual costs

Monthly carrying costs, utilities, and closing cost estimates.

Pre-filled from listing✓ $849,999✓ $3,743 tax✓ Gas✓ 2000-2500 ft²✓ Ontario· Listing facts below · Ontario averages for utilities — drag sliders to match your home

Monthly all-in

$6,339/mo

incl. closing costs (yr 1)

Annual total

$76,063

year 1

Mortgage only

$3,225/mo

principal + interest

Beyond mortgage

$1,533/mo

taxes, utilities, upkeep

Financing

Purchase price

Down payment20%$170,000

20%+ down — no CMHC premium

Mortgage rate3.00%

Amortization

Province

Government

Property tax (annual)from listing$312/mo

Utilities

Hydro / electricity$158/mo

≈ $0.07/ft² × ~2,250 ft² · ON avg ~$158/mo

Gas$125/mo

Typical ON gas-heated home · ~$125/mo

Water / sewer$60/mo

ON municipal avg ~$60/mo

Internet / TV / phone$70/mo

ON internet/TV avg ~$70/mo

Maintenance & upkeep

Maintenance reserve1.0%$8,500/yr

1% of value/yr — standard reserve

Landscaping & snow$0/mo

Landscaping & snow removal · $0 default

Home insurance$100/mo

$100/mo default · adjust for your home

Security system$0/mo

Optional monitoring · $0 default

Closing costs (one-time, year 1)

Land transfer tax (ON)computed$13,475

Legal / lawyer fees

Home inspection

Title insurance

Moving costs

CMHC premiumNone (20%+ down)

Cost composition

Mortgage (P+I)51% $38,696/yr

Property taxes23% $17,218/yr

Utilities7% $4,950/yr

Insurance & security2% $1,600/yr

Maintenance11% $8,500/yr

Closing costs7% $5,100/yr

Mortgage is 51% of your true cost of ownership. The other 49% surprises most first-time buyers.

Full breakdown

Mortgage & financing
Mortgage (P+I)	$38,696	$3,225/mo
Government & taxes
Property tax	$3,743	$312/mo
Land transfer tax(closing)	$13,475	$1,123/mo
Insurance & protection
Home insurance	$1,200	$100/mo
Title insurance(closing)	$400	$33/mo
Utilities
Hydro / electricity	$1,890	$158/mo
Gas	$1,500	$125/mo
Water & sewer	$720	$60/mo
Internet / TV / phone	$840	$70/mo
Maintenance & upkeep
Maintenance reserve (1.0%)	$8,500	$708/mo
Closing costs (one-time)
Legal / lawyer(closing)	$2,500	$208/mo
Home inspection(closing)	$600	$50/mo
Moving costs(closing)	$2,000	$167/mo
Total	$76,063	$6,339/mo

Listing facts below · Ontario averages for utilities — drag sliders to match your home. CMHC added to loan principal only — not double-counted in chart.

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585 Cannon Street

About this home

MyStreetValue™ Analysis

Property details

Additional listing data

Rooms

Price movement & seller pressure

Sales History

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Annual costs