248 Cyrus Street, Cambridge ON

About 248 Cyrus Street

OWN YOUR HOME FOR LESS THAN THE COST OF RENT! This beautifully renovated bungalow with a legal accessory apartment offers a rare opportunity to enjoy homeownership in a fantastic Cambridge neighbourhood while significantly offsetting your mortgage. With $2,500 per month already coming in from the upper-level unit, you can enjoy the benefits of a fully updated home at a cost that may be less than many rental payments. Situated on a generous 50-foot-wide lot, this turn-key property has been extensively renovated from top to bottom. Major updates have already been completed, including mechanical systems, leaving nothing to do but move in and enjoy. The upper-level unit is currently occupied by an excellent family paying $2,500 per month, providing immediate income from day one. The vacant lower-level legal apartment offers exceptional flexibility and offers 2 large bedrooms, spacious living room, and large windows allow the rooms to fill with light. Live in one unit while collecting rent from the other, accommodate extended family, or maximize your investment by renting both units. Outside, you’ll appreciate the newly widened driveway with parking for 5 to 6 vehicles, making it ideal for multi-generational living, tenants, guests, or hobbyists needing extra space. Whether you’re a first-time buyer looking for mortgage assistance, an investor seeking a turn-key income property, or someone looking for flexible living arrangements, this property checks all the boxes. Please note: Photos of the upper-level unit were taken prior to the current tenancy. The unit is presently occupied by wonderful tenants who pay on time and would be happy to stay. Opportunities offering this combination of renovation, income potential, and flexibility are hard to find. Own a great home in a great neighbourhood—while your tenant helps pays most of the mortgage. (id:56071). Get more information on 248 Cyrus Street

Property Features

Appliances:  Dishwasher, Dryer, Microwave, Refrigerator, Stove, Water softener, Washer, Range - Gas, Microwave Built-in
Features:  Paved driveway
Rental Equipment:  
Directions:  Fountain ST North to Kitchener Road to Cyrus.
Zoning Description:  R4
Interior Size (Approximate):  2000 sqft
Community Features:  Quiet Area
Access:  Highway access
Lot (Approximate):  under 1/2 acre
Exterior Finish:  Brick
Water:  Municipal water, Municipal sewage system
Heating / Cooling:   Natural gas / Central air conditioning
Age (Approximate):  1970
Foundation: Poured Concrete
Constructed Date:  1970
Basement:  Full (Finished) Finished

Rooms & Sizes

(Approximate)

Cold room Lower level 3 8 x 9 6	3pc Bathroom Lower level 9 10 x 5 10	Utility room Lower level 8 9 x 4 9
Kitchen Lower level 15 3 x 8 2	Bedroom Lower level 19 7 x 11 4	Bedroom Lower level 13 0 x 13 4
Dining room Main level 7 8 x 8 9	4pc Bathroom Main level 7 8 x 4 8	Bedroom Main level 8 6 x 10 4
Bedroom Main level 11 0 x 10 4	Primary Bedroom Main level 11 0 x 10 8	Kitchen Main level 11 10 x 11 0
Living room Main level 16 3 x 11 9