$589,900 - 62 Erie Avenue, Hamilton
Multi-Family for Sale in Hamilton
44 days on marketNeighbourhood: Stinson
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- MLS Number
- X13708376
- Property Type
- Multi-Family
- Status
- active
- Days on Site
- 44
- Bedrooms
- 5
- Bathrooms
- 2
- Square Feet
- 1,500 - 1,999 sqft
- Neighbourhood
- Hamilton
- Taxes (2026)
- $4,349
- Listing Brokerage
- ROYAL LEPAGE REAL ESTATE SERVICES LTD.
Live in this fantastic cash flowing property in amazing Stinson area! Recently updated, this legal duplex has a vacant upper unit with loft, turnkey and ready to move in with new kitchen and bathrooms and unique loft features. Carefully selected AAA tenants on main floor paying $1950. Live in this detached home with mortgage payments of approx. $700 monthly! So much potential with extra deep lot of 180 ft! Each unit has separate laundry and separate entry. One parking spot included with this home. No leased equipment. Upgraded kitchens, brand new stainless steel appliances. Wonderful opportunity for first time home buyers or investors to buy in downtown Hamilton's top neighborhood. Walking distance to grocery stores and amenities and minutes from upcoming Hamilton LRT.
Estimate your monthly payments for this property
Estimated Payment
$3,026.49/mo
Includes CMHC insurance ($16,458)
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 Stinson
Stinson 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 Stinson
- •Convenient location in Hamilton
- •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
Stinson 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.
62 Erie Avenue, Hamilton
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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 $393/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 44 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.
Excellent Flexibility
With 5 bedrooms, you have genuine flexibility. Beyond the master and kids' rooms, you can have a dedicated home office, guest room, hobby space, or even rental income potential. In today's work-from-home era, extra bedrooms add significant value. Properties with 5+ bedrooms are relatively rare in Hamilton.
About Stinson
I know Stinson 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: Hamilton properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $2,458 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.
Let's See It Together
Photos only tell part of the story. During our showing, I'll point out things the camera doesn't capture: neighbourhood feel, natural light quality, traffic noise, and overall condition. I'll also share what comparable homes have sold for and help you craft a winning strategy if you decide to move forward.