$825,000 - 5161-5163 River Road, Niagara Falls
Multi-Family for Sale in Niagara Falls
Neighbourhood: 210 - Downtown
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- MLS Number
- X13800086
- Property Type
- Multi-Family
- Status
- active
- Days on Site
- 20
- Bedrooms
- 4
- Bathrooms
- 2
- Square Feet
- 3,000 - 3,499 sqft
- Neighbourhood
- Niagara Falls
- Taxes (2026)
- $4,645
- Listing Brokerage
- RE/MAX NIAGARA REALTY LTD, BROKERAGE
SPECTACULAR NIAGARA RIVER DUPLEX WITH INCREDIBLE INCOME POTENTIAL! Situated on prestigious River Road, one of Niagara's most highly sought-after neighborhoods overlooking the majestic Niagara River, this massive, fully upgraded property offers an exceptional opportunity for savvy investors or owner-occupiers. The property features two expansive 1,300-square-foot units, each offering 2 spacious bedrooms, a beautifully updated bathroom, a bright sunroom, a kitchen, a formal dining room, and a living room complete with elegant French doors and gleaming hardwood floors. Both main and second-floor units boast individual full basements for ample storage, separate gas and hydro meters, and two owned hot water tanks. Capital improvements abound with a complete electrical rewiring in 2023 featuring pot lights throughout and hardwired smoke detectors, along with fully replaced windows and air conditioning spanning all three floors. A detached double garage with concrete floors provides excellent parking or storage. Financially rewarding, the main floor currently generates $1,940 per month plus heat and hydro. The identical second-floor unit also commands $2,500 per month plus heat and hydro, and will be delivered vacant-perfect for an owner-occupant or an investor looking to set current market rents. Massive upside awaits in the 800-square-foot, partially finished third-floor loft Already framed and plumbed for a kitchen, bathroom, and living area, this space offers the opportunity to create a separate Additional Dwelling Unit (ADU) for rental income. Alternatively, it can be integrated into the second-floor apartment as a spectacular master suite with an ensuite bathroom, transforming the unit into a high-value three-bedroom apartment. Turnkey mechanics, premium location, and undeniable value-add potential make this River Road gem a rare find
Estimate your monthly payments for this property
Estimated Payment
$4,232.68/mo
Includes CMHC insurance ($23,018)
5-yr fixed avg.
Rates shown are estimates based on typical Ontario 5-year fixed rates. Canadian mortgages use semi-annual compounding as required by law. CMHC insurance applies to purchases under $1.5M with less than 20% down. Estimated property tax uses an approximate 0.85% rate. Contact us for current rate options and pre-approval.
Discover 210 - Downtown
210 - Downtown is a vibrant community in the Greater Toronto Area, offering excellent amenities, schools, and transportation options. This area is popular with families and professionals seeking a balanced lifestyle with access to urban conveniences and natural spaces.
Why Live in 210 - Downtown
- •Convenient location in Niagara Falls
- •Access to local shops and dining
- •Good public transit connections
- •Community parks and green spaces
- •Well-maintained neighbourhoods
Nearby Schools
Transit & Commuting
- •MiWay bus routes throughout the area
- •GO Transit stations within driving distance
- •Easy highway access to 401/403/QEW
- •Walking distance to local amenities
Parks & Amenities
- •Local parks and recreational facilities
- •Community centres
- •Shopping plazas nearby
- •Restaurants and cafes
Lifestyle & Community
210 - Downtown offers a wonderful quality of life with a mix of residential charm and urban convenience. Residents enjoy easy access to schools, parks, and shopping, making it an ideal location for families and professionals alike.
5161-5163 River Road, Niagara Falls
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Monthly Cash Flow Breakdown
Note: These are estimates only. Actual figures may vary based on market conditions, property condition, and other factors. Consult with a financial advisor for personalized advice.
Joe's Thoughts
Honest perspective from 30+ years of GTA real estate experience
Competitive Pricing
At $275/sqft, this is priced below the area average. This could represent genuine value, but let's investigate why. In my experience, underpriced homes often have deferred maintenance, unfavourable layouts, or motivated sellers. I'll help you determine which it is.
Market Position
At 20 days on site, this property has had reasonable exposure. It hasn't sold immediately (which often indicates overpricing), but isn't languishing either. There's likely room for a 3-5% negotiation from asking price.
Larger Home Realities
At 3,000 sqft, this is a substantial home. Budget approximately $400-600/month more for utilities compared to an average-sized home. Maintenance costs scale with size too - roof, HVAC, and cleaning all cost more. That said, space is a luxury that's hard to add later, and larger homes often have better resale in family-oriented neighbourhoods.
Family-Friendly Layout
4 bedrooms hits the sweet spot for most families. You'll have room for 2-3 children plus a home office or guest room. This is the most sought-after configuration for families relocating to Niagara Falls. Good resale value as demand remains consistent.
About 210 - Downtown
I know 210 - Downtown well from working with many buyers and sellers here. Each pocket has its own character - let me share what I've learned about this specific street and block. During our showing, I'll point out local amenities, school catchments, and what similar homes have sold for recently.
Investment Perspective
Looking at this as an investment: Niagara Falls properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $3,438 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.