505 Albany Street, Fort Erie

$695,000
505 Albany Street

$695,000

New
27d
DetachedBungalow

505 Albany Street, Fort Erie

Total Monthly Obligation $3,663

Beds
3
Baths
3
Park
4
Sqft
1500-2000
DOM
27d
Score
17
Yield
4.6%
Cash on Cash
-5.6%
Cap Rate
3.4%
5Y IRR
11.2%
10Y IRR
11.1%
Property Type-Detached
MLS® Number-X13832102
Beds-3
Bathrooms-3
Size-1500-2000 sqft
Lot Size-60 × 120 ft
Listed on site-Sep 26, 2026
Style-Bungalow
Building Type-Detached
Age-31-50
Taxes-$5,818.66 (2026)
Parking-6 - Attached
Basement-Full, Finished
Heating-Forced Air (Gas)
Brokerage-RE/MAX HENDRIKS TEAM REALTY
Cooling-Central Air
Laundry-No
Fireplace-No
Pool-Inground
Facing-North
Exterior-Brick
Roof-Asphalt Shingle
Foundation-Concrete
Sewer-Sewer
Possession-Flexible
Neighbourhood-333 - Lakeshore
Title-Residential Freehold

No agent assigned

An open-concept brick bungalow with a backyard made for summer! With approximately 1,700 sq. ft. on the main floor plus a fully finished lower level, this home offers plenty of flexibility for daily life and entertaining. From the front foyer, the layout opens into the kitchen, dining and living areas. The kitchen brings everyone together around a large centre island with a cooktop and seating, complemented by white cabinetry, dark counters and plenty of workspace and storage. Natural light fills the dining and living areas, while an enclosed sunroom overlooks the backyard. The main floor also has 3 bedrooms and 2 full bathrooms, including a spacious primary bedroom with an ensuite featuring a soaker tub and separate shower. Downstairs, the finished lower level offers large recreation and sitting areas, a bar-style entertaining space, room for other uses, a laundry/work area and another full bathroom. A separate exterior stair entrance provides direct access to the lower level. An attached 2-car garage and generous driveway parking add everyday convenience. Out back, extensive patio space, mature landscaping, fencing, a covered sitting area and an inground pool create an inviting retreat with distinct places to lounge, dine and entertain. Whether you're looking for a retirement bungalow without giving up space or searching for your next family home, this could be the place to Love Where You Live!

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(utilities, internet...)
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%
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Closing Costs

Mortgage Amount
$556,000
Land Transfer Taxes$10,375
Legal Fees (Est.)
$
Total cash required for closing$150,875

Total Monthly Obligation

$3,663/mo
Mortgage $2,803
Monthly Loss $2,926
Principal$738
Interest$2,066
Property Tax$485
Home Insurance$125
Variable Costs$250
Returns
Weight: 25%
Cap Rate
2.6%16
Cash-on-Cash
-10.3%1
5-Year IRR
7.6%21
10-Year IRR
8.8%
Returns Index
11.8/ 100
Growth Sentiment
Weight: 20%
%/yr
Score+50
%/yr
Score+50
%
%
Growth Index
50.0/ 100
GradeD
17/ 100
Avoid•Pass

Strategy: Buy & Hold — Weights: CFI 35% · RI 25%
RKI 20% · GI 20%

Assumptions & Inputs
$/mo
%
$
yr
%
Cash Flow
Weight: 35%
Gross Rent
$31,800/yr
NOI
$18,301/yr
Net Cash Flow
-$1,278/mo
Cash Margin
-48.2%0
Cash Flow Index
0.0/ 100
Risk Profile
Weight: 20%
DSCR
0.546
LTV Ratio
80.0%18
Vacancy Buffer
2.6 mo43
Risk Index
22.2/ 100

*This analysis is independently generated NOT provided by TREB or CREA.

Comparables

Properties near 505 Albany Street

Time

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