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Listed 2 months ago

5207 River Road

210 - Downtown, Niagara Falls

$1,095,000

Detached|1 1/2 Storey
5 | 5 | 5.5
About this home

This five (5) Bedroom HOUSE has a BED & BREAKFAST License. Located in Scenic LOCATION, the Bed & Breakfast District of City of NIAGARA Falls directly on RIVER ROAD, which runs along NIAGARA GORGE from the FALLS on towards Niagara-on-the-Lake, and while it can accommodate any family, it also has BB License, which opens earning potential for capable entrepreneur. B & B operation includes 4 rooms, which have their own ensuite bathrooms, and common area. 5th bedrooms is allocated for the owner/host. Large, 58 x 112 ft fenced lot with access from River Road (front) and also from laneway (back). LOCATION ! ~ 1.0 km away from RAINBOW Bridge~1.5 km away from AMERICAN Falls )~ 2.5 km away from HORSESHOE Falls~ 1.4 km to Bus & Railway Station. Direct Exposure to Tourist Traffic along Rover Road. The House was fitted & upgraded to meet City's Bylaws for operating a BED and BREAKFAST Business and has a City License and is ready to accommodate Tourists.Property is right on Niagara Gorge, so at times, depending on wind direction, you can hear the FALLS roaring in a distance. Please note this Offer is for House only, and not for BB business, which is not transferable. Buyer can apply for own license And while the B & B can generate income, which is solely dependent on Buyer's entrepreneurial and marketing performance. *For Additional Property Details Click The Brochure Icon Below*

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agent
Milad Momtaz Azad
(647) 510-8858
TypeDetached
Style1 1/2 Storey
Approx. AgeNot available
Size2000-2500 sq. ft.
Property Tax$6,540
Lot Size58 ft x 112 ft
mls© NumberX13601010
Listed ByICI SOURCE REAL ASSET SERVICES INC.

Listing History

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  • No recent lease history for this listing.

Could you afford this home?

What the bank counts

This home's actual carrying costs, payment stress-tested at 6%

Mortgage, tested at 6%
$5,605
Property tax
$545
Heat allowance
$150
Housing costs
$6,300 / mo

Lenders cap these at 39% of gross income — that sets the number.

Down payment20% · $219,000
25-yr amortization

Income needed

$194,000

gross annual household income

Payment at 4%
$4,608 / mo
Cash down
$219,000

Assumes no other monthly debts · 25-yr amortization

Full affordability check

Investment Analysis

Estimated rent, cap rate and monthly cash flow for this property

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