91 Water Street S

Nestled in the heart of Cambridge, at 91 Water Street S, this remarkable house for sale in Cambridge is a fantastic opportunity for both house-hackers and investors alike. With a CAP rate of 7.91%, this detached house is not just a property; it’s a gateway to financial growth. The building, which dates back to 1890, has been expertly renovated from top to bottom, ensuring that you can attract high-quality tenants while minimising future maintenance costs.

This house for sale in Cambridge boasts a total of 18 rooms, including an impressive seven bedrooms spread across four separate kitchens. Each unit is separately metered, which means tenants are responsible for their own heat and hydro. This setup not only makes it easier for you as the landlord but also ensures that the utilities are managed efficiently. The property features one 3-bedroom unit, two 2-bedroom units, and a bachelor unit, providing versatile layouts that cater to a variety of tenants.

At 91 Water Street S, Cambridge, you’ll find that the property is fully rented at market rates, providing immediate rental income. The monthly net cash flow after financing can be quite lucrative, with figures of $2,822 available with a 20% down payment or $2,220 with a minimum of 10% down. Over five years, you could see an equity position of $759,000 with 20% down, and over ten years, that figure could rise to $1,210,000. It’s a compelling case for anyone looking to create generational wealth through property investment.

The exterior of this house for sale in Cambridge is just as impressive as the interior. It features a lovely balcony, perfect for enjoying a morning coffee or an evening glass of wine. The property also includes separate hydro meters, which is a significant advantage for managing utility costs. Although there is no pool or central vacuum system, the presence of a fireplace adds a charming touch to the living spaces, making it a warm and inviting home.

Situated on a spacious lot measuring 32 x 152 feet, the property has ample parking space for four vehicles, accessed via lane or alley parking. While there is no garage, the gravel parking area is a practical solution for tenants. The house is unfurnished, allowing new owners to put their personal stamp on the space.

The location of 91 Water Street S, Cambridge, is truly unbeatable. You’re just a stone’s throw away from the Grand River, which offers a plethora of walking trails, including the famous Cambridge to Paris Rail-Trail. For those who enjoy a bit of urban life, downtown Cambridge is only a five-minute walk away, and the groovy Gaslight District is just eight minutes on foot. The Cambridge Bus Terminal is a mere six-minute stroll, making commuting a breeze. Plus, if you need to venture further afield, you’re only 15 minutes from the 401, 30 minutes to Hamilton, and an hour to Toronto.

With all these features and its prime location, this house for sale in Cambridge won’t be on the market for long. The city even takes care of clearing the snow from the sidewalk in front of the building, adding to the convenience of this property. Whether you’re looking to invest or find a home that can also serve as a source of income, 91 Water Street S, Cambridge, is the place to be. Don’t miss out on this rare opportunity to secure a property that not only meets your needs but also has the potential to grow your wealth. Grab the brass ring and start your journey towards financial success today!

City Core/Wellington in Cambridge is a vibrant and dynamic area that seamlessly blends urban convenience with a touch of historical charm. As the heart of the city, it boasts an array of amenities, including eclectic shops, delightful cafes, and cultural attractions, all within easy walking distance. The picturesque streets are lined with a mix of modern architecture and historic buildings, creating a unique atmosphere that appeals to both residents and visitors alike. With excellent transport links, including bus and train services, and proximity to beautiful parks and the River Cam, City Core/Wellington offers a lively yet relaxed lifestyle, making it an ideal place for those seeking the perfect balance of city living and community spirit.

Schools in the Neighbourhood

This property is conveniently located near a variety of educational institutions, catering to families with children of all ages. The closest option is Central Public School, an esteemed elementary school just 0.5 km away, rated 4.7, offering grades from JK to 6 under the Waterloo Region District School Board. Avenue Road Public School, located 2.8 km away, provides education from K to 8 and has a rating of 4.2. For secondary education, Glenview Park Secondary School is only 1.2 km from the property and boasts a rating of 6.2, while Galt Collegiate Institute, located 1.6 km away, offers a French program and has a rating of 6.1. Families seeking Catholic education will find St. Anne Catholic Elementary School (1.8 km away, rating 4.4) and Monsignor Doyle Catholic Secondary School (2.1 km away, rating 5.8) to be excellent choices. Additionally, St. Peter Catholic Elementary School is available for younger children, though it has a lower rating of 1.5. Overall, this area provides a strong educational foundation, ensuring a supportive environment for children’s academic growth.

Key Statistics of the Neighbourhood

The area surrounding the property has a population of 915 residents, with an average household size of 1.7 individuals. The demographic profile indicates a mature community, with an average age of 41.7 years. The average household income stands at $59,800, though 22.4% of the population is classified as low-income. The housing market reflects a median property price of $520,000, with a significant portion of the population being renters at 85.44%. Single individuals comprise 65% of the community, while households with children account for 23.08%. The area is also notable for its diversity, with 21.05% of residents being immigrants. Educational attainment is relatively high, with 46.05% of the population holding a college or university degree. However, a considerable segment, 40.79%, is not in the labor force, suggesting potential challenges in employment opportunities. The housing composition includes a small percentage of condominiums, at 4.85%. Overall, this demographic snapshot highlights a community that is predominantly single, educated, and facing economic diversity, with a significant reliance on rental housing.