305 Phipps Street S, Fort Erie

$399,500
305 Phipps Street S

$399,500

New
24d
Detached1 1/2 Storey

305 Phipps Street S, Fort Erie

Total Monthly Obligation $2,181

Beds
2
Baths
1
Park
2
Sqft
700-1100
DOM
24d
Score
32
Yield
7.5%
Cash on Cash
8.1%
Cap Rate
6.3%
5Y IRR
22.1%
10Y IRR
20.0%
Property Type-Detached
MLS® Number-X13844700
Beds-2
Bathrooms-1
Size-700-1100 sqft
Lot Size-37.5 × 121.7 ft
Listed on site-Sep 29, 2026
Style-1 1/2 Storey
Building Type-Detached
Age-100+
Taxes-$2,331.25 (2026)
Parking-2 - None
Basement-Partially Finished
Heating-Forced Air (Gas)
Brokerage-Century 21 Heritage House LTD
Cooling-Central Air
Laundry-No
Fireplace-No
Pool-None
Facing-South
Exterior-Vinyl Siding
Roof-Asphalt Shingle
Foundation-Block
Sewer-Sewer
Possession-flexible
Neighbourhood-332 - Central
Title-Residential Freehold

No agent assigned

Fantastic opportunity to own this move-in-ready home and start building equity. Perfect for first- time buyers! Welcoming covered front porch leads into the flowing first floor layout. From living room to dining to kitchen. Wainscotting, hard wood flooring accents. Upstairs 2 bedrooms with closets, 4 pce bath with storage area. Kitchen includes fridge, stove, bi dishwasher. Basement family room for added space. Private courtyard setting in backyard. Plenty of space for family BBQs, children's play area, and pups. 2 minutes away from downtown shopping. Updates include asphalt roof shingles, siding, soffit, fascia, eaves, most windows, sump pump & weeping tile.

$
$
%
%
$
$
$
(utilities, internet...)
$
%
%

Closing Costs

Mortgage Amount
$319,600
Land Transfer Taxes$4,468
Legal Fees (Est.)
$
Total cash required for closing$85,868

Total Monthly Obligation

$2,181/mo
Mortgage $1,611
Monthly Loss $1,757
Principal$424
Interest$1,187
Property Tax$194
Home Insurance$125
Variable Costs$250
Returns
Weight: 25%
Cap Rate
5.0%38
Cash-on-Cash
1.0%9
5-Year IRR
16.5%80
10-Year IRR
15.9%
Returns Index
43.3/ 100
Growth Sentiment
Weight: 20%
%/yr
Score+50
%/yr
Score+50
%
%
Growth Index
50.0/ 100
GradeD
32/ 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
$30,000/yr
NOI
$20,169/yr
Net Cash Flow
$69/mo
Cash Margin
2.8%8
Cash Flow Index
8.0/ 100
Risk Profile
Weight: 20%
DSCR
1.0430
LTV Ratio
80.0%18
Vacancy Buffer
4.3 mo74
Risk Index
41.0/ 100

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

Comparables

Properties near 305 Phipps Street S

Time

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Data last updated within the past 24 hours.