61 Princess Street, Fort Erie

$499,900
61 Princess Street

$499,900

New
8d
Detached2-Storey

61 Princess Street, Fort Erie

Total Monthly Obligation $2,602

Beds
5
Baths
2
Park
3
Sqft
2000-2500
DOM
8d
Score
26
Yield
6.5%
Cash on Cash
4.1%
Cap Rate
5.5%
5Y IRR
18.8%
10Y IRR
17.3%
Property Type-Detached
MLS® Number-X14084212
Beds-5
Bathrooms-2
Size-2000-2500 sqft
Lot Size-33 × 110.16 ft
Listed on site-Oct 15, 2026
Style-2-Storey
Building Type-Detached
Taxes-$2,520.79 (2026)
Parking-3 - None
Basement-Unfinished, Full
Heating-Radiant (Gas)
Brokerage-EXP REALTY
Cooling-Central Air
Laundry-No
Fireplace-No
Pool-None
Facing-North
Exterior-Vinyl Siding
Roof-Asphalt Shingle
Foundation-Concrete Block
Sewer-Sewer
Possession-Flexible
Neighbourhood-332 - Central
Title-Residential Freehold

No agent assigned

An exciting opportunity in the heart of Fort Erie! Offering two separate living spaces, a vacant main level and an established upper-level A+ tenant who would love to stay, this versatile property presents an appealing opportunity for buyers seeking flexible living arrangements and potential rental income. The main floor features three bedrooms, a spacious living room with large windows, a separate dining area, a generously sized kitchen with ample cabinetry and counter space, and a full bathroom. Upstairs, you'll find an additional two bedrooms, a comfortable family room, an eat-in kitchen and a full bathroom, creating a functional and inviting living space. A standout feature of the upper level is the expansive private balcony, providing additional outdoor space to relax after a long day or enjoy your morning coffee. The large unfinished basement provides exceptional space for storage, a workshop, hobbies or projects, adding even more versatility to the property. Outside, enjoy a fenced backyard, storage shed and a paved driveway with ample parking. Situated in an established neighbourhood, this property is conveniently located just minutes from the Peace Bridge with easy access to the QEW, shopping, restaurants, schools, parks and everyday amenities. Enjoy the nearby Niagara River, scenic waterfront trails and beautiful Lake Erie, with beaches and recreational opportunities just a short drive away. Whether you're looking for a home with additional living space, exploring investment possibilities or seeking a property that offers flexibility for the future, 61 Princess Street is full of opportunity!

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(utilities, internet...)
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Closing Costs

Mortgage Amount
$399,920
Land Transfer Taxes$6,473
Legal Fees (Est.)
$
Total cash required for closing$107,953

Total Monthly Obligation

$2,602/mo
Mortgage $2,016
Monthly Loss $2,071
Principal$531
Interest$1,486
Property Tax$210
Home Insurance$125
Variable Costs$250
Returns
Weight: 25%
Cap Rate
4.4%31
Cash-on-Cash
-2.0%5
5-Year IRR
14.1%65
10-Year IRR
13.8%
Returns Index
34.2/ 100
Growth Sentiment
Weight: 20%
%/yr
Score+50
%/yr
Score+50
%
%
Growth Index
50.0/ 100
GradeD
26/ 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
$32,280/yr
NOI
$22,031/yr
Net Cash Flow
-$181/mo
Cash Margin
-6.7%1
Cash Flow Index
1.3/ 100
Risk Profile
Weight: 20%
DSCR
0.9120
LTV Ratio
80.0%18
Vacancy Buffer
3.7 mo63
Risk Index
33.8/ 100

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

Comparables

Properties near 61 Princess Street

Time

Comparables are calculated within a 3km radius based on properties sold or leased within the past 6 months. This helps you understand the current market value and potential rental yield with high precision.

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Data last updated within the past 24 hours.