222 Phipps Street, Fort Erie

$499,900
222 Phipps Street

$499,900

New
3d
Detached2-Storey

222 Phipps Street, Fort Erie

Total Monthly Obligation $2,634

Beds
3
Baths
2
Park
3
Sqft
1100-1500
DOM
3d
Score
25
Yield
6.4%
Cash on Cash
3.6%
Cap Rate
5.4%
5Y IRR
18.4%
10Y IRR
17.0%
Property Type-Detached
MLS® Number-X14097728
Beds-3
Bathrooms-2
Size-1100-1500 sqft
Lot Size-50 × 239.33 ft
Listed on site-Oct 20, 2026
Style-2-Storey
Building Type-Detached
Age-51-99
Taxes-$2,910 (2025)
Parking-3 - None
Basement-Partially Finished
Heating-Radiant (Other)
Brokerage-Century 21 Heritage House LTD
Cooling-Wall Unit(s)
Laundry-No
Fireplace-Wood
Pool-None
Facing-North
Exterior-Brick
Roof-Asphalt Shingle
Foundation-Poured Concrete
Sewer-Sewer
Possession-TBD
Neighbourhood-332 - Central
Title-Residential Freehold

No agent assigned

TIMELESS CHARACTER, CHARM & AN UNBEATABLE FORT ERIE LOCATION! Fall in love with this charming Tudor-style, two-storey brick home, ideally situated within walking distance of the beautiful Niagara River and Downtown Fort Erie! Offering 3 bedrooms, 2 bathrooms, hardwood flooring, and a warm, inviting atmosphere, this home perfectly blends classic character with everyday comfort. The spacious living room features a wood-burning fireplace, while the separate dining room is perfect for family gatherings and entertaining. The newer kitchen showcases Quartz countertops, and the lower-level recreation room provides additional space to relax and unwind. Recent updates include Paved driveway with concrete curbs, Backup generator for added peace of mind, Large concrete patio overlooking a deep rear yard, Kitchen with quartz counters, most interior doors, Upstairs carpet, Refinished hardwood floors, Boiler for radiant heat, Electrical panel, Mini split (AC/HEAT) and Roof 2017. Enjoy a fantastic location close to shopping, major highways, the Peace Bridge, and all the amenities Fort Erie has to offer. A wonderful opportunity to own a home full of timeless charm in a desirable location!

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

Closing Costs

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

Total Monthly Obligation

$2,634/mo
Mortgage $2,016
Monthly Loss $2,103
Principal$531
Interest$1,486
Property Tax$243
Home Insurance$125
Variable Costs$250
Returns
Weight: 25%
Cap Rate
4.3%30
Cash-on-Cash
-2.5%4
5-Year IRR
13.7%63
10-Year IRR
13.6%
Returns Index
32.8/ 100
Growth Sentiment
Weight: 20%
%/yr
Score+50
%/yr
Score+50
%
%
Growth Index
50.0/ 100
GradeD
25/ 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
$32,160/yr
NOI
$21,534/yr
Net Cash Flow
-$222/mo
Cash Margin
-8.3%1
Cash Flow Index
0.9/ 100
Risk Profile
Weight: 20%
DSCR
0.8919
LTV Ratio
80.0%18
Vacancy Buffer
3.6 mo62
Risk Index
33.1/ 100

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

Comparables

Properties near 222 Phipps 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.

Data is provided courtesy of PropTx.

The information provided herein must only be used by consumers who have a bona fide interest in the purchase, sale, or lease of real estate and may not be used for any commercial or other purpose.

Listing information is deemed reliable but not guaranteed accurate by PropTx or TRREB.

REALTOR®, REALTORS®, and the REALTOR® logo are certification marks owned by REALTOR® Canada Inc. and licensed exclusively to the Canadian Real Estate Association (CREA).

The MLS® trademark and MLS® logo are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA.

Data last updated within the past 24 hours.