402 Lambton Street E, West Grey

$599,000
402 Lambton Street E

$599,000

New
15d
Detached2-Storey

402 Lambton Street E, West Grey

Total Monthly Obligation $2,942

Beds
4
Baths
2
Park
2
Sqft
1500-2000
DOM
15d
Score
23
Yield
5.6%
Cash on Cash
1.4%
Cap Rate
4.9%
5Y IRR
16.7%
10Y IRR
15.5%
Property Type-Detached
MLS® Number-X13874734
Beds-4
Bathrooms-2
Size-1500-2000 sqft
Lot Size-198.74 × 126.03 ft
Listed on site-Oct 8, 2026
Style-2-Storey
Building Type-Detached
Age-100+
Taxes-$1,815 (2025)
Parking-4 - Detached
Basement-Unfinished
Heating-Forced Air (Gas)
Brokerage-CENTURY 21 HERITAGE GROUP LTD.
Cooling-Central Air
Laundry-No
Fireplace-Living Room, Natural Gas
Pool-None
Facing-North
Exterior-Brick, Vinyl Siding
Roof-Metal
Foundation-Concrete, Stone
Sewer-Sewer
Possession-Flexible
Neighbourhood-West Grey
Title-Residential Freehold

No agent assigned

A welcoming country retreat with room to live, create, and grow - right in the heart of Durham. Set on a generous 0.57-acre lot, this charming century home blends historic character with major modern upgrades, offering an ideal small-town lifestyle just minutes from Hanover.Inside, you'll find 4 spacious bedrooms, 2 bathrooms, and large principal rooms filled with natural light. The home has been thoughtfully updated with new hardwood flooring, new electrical, new furnace, central air, all new windows, and steel roofs on every building - a substantial list of improvements already completed for you. The exterior features weather-proof plastic gingerbread trim that never needs painting or treatment, adding long-lasting charm with zero maintenance. Original doors and interior trim have been recently repainted, and two enclosed porches provide even more flexible living space.Step outside and discover a property designed for hobbies, creativity, and outdoor enjoyment. A cement patio off the family room is perfect for gatherings, while the detached 2-car garage with an oil pit offers practical utility. Beyond that, the lot features two impressive outbuildings: a 14' x 25' multi-use studio space currently set up as a "Man Cave" plus a separate "She Shed" - ideal for art, woodworking, home offices, or guest overflow. A striking 40-ft custom shipping-container workshop/studio with a slanted roof, overhead storage, hydro, covered veranda, and beautiful French-door entry completes the package. Together, these spaces add 600+ sq. ft. of finished, versatile workspace.The grounds are a nature-lover's delight. New underground high-speed internet ensures modern convenience, and municipal services make country living easy. Best of all, you're only a 5-minute walk to Main Street (Hwy 6) for shops, cafés, and restaurants.This is one of those rare small-town properties that truly offers more - more land, more character.

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

Closing Costs

Mortgage Amount
$479,200
Land Transfer Taxes$8,455
Legal Fees (Est.)
$
Total cash required for closing$129,755

Total Monthly Obligation

$2,942/mo
Mortgage $2,416
Monthly Loss $2,307
Principal$636
Interest$1,780
Property Tax$151
Home Insurance$125
Variable Costs$250
Returns
Weight: 25%
Cap Rate
4.0%27
Cash-on-Cash
-3.9%3
5-Year IRR
12.5%54
10-Year IRR
12.5%
Returns Index
28.0/ 100
Growth Sentiment
Weight: 20%
%/yr
Score+50
%/yr
Score+50
%
%
Growth Index
50.0/ 100
GradeD
23/ 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
$33,600/yr
NOI
$23,925/yr
Net Cash Flow
-$422/mo
Cash Margin
-15.1%0
Cash Flow Index
0.2/ 100
Risk Profile
Weight: 20%
DSCR
0.8315
LTV Ratio
80.0%18
Vacancy Buffer
3.2 mo55
Risk Index
29.5/ 100

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

Comparables

Properties near 402 Lambton Street E

Time

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