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Listed 2 months ago

6104 Garner Road

219 - Forestview, Niagara Falls

$3,700,000

Detached|2-Storey
6 | 5 | 8
About this home

Investor Opportunity - 6104 Garner Road, Niagara FallsRare Shovel-Ready Development Site With Advanced Planning Approvals Already In Place For A Modern 6-Storey Residential Building With 57 Condo Units.Two High-Potential Strategies Available: 1. Market Condo Development - Construct And Sell (Or Hold) 57 Residential Units In A Growing Niagara Falls Corridor. With Key Approvals Progressing, You Can Move Efficiently Into Construction And Capture Strong Market Returns.2. Government-Supported Housing Route - Convert The Project Into Purpose-Built Rental Under Available Federal/Provincial Affordable Housing Programs. Eligible Projects Can Access Funding Covering Up To 95% Of Capital Costs. Build Once, Then Enjoy Reliable, Long-Term Rental Income For Life With Significantly Reduced Equity Outlay.The Heavy Planning Work Is Already Underway. A New Investor Can Step In, Complete The Process, Build, And Begin Generating Returns Quickly - Either Through Unit Sales Or Stable Cash-Flow Rentals.Located In A High-Growth Area Of Niagara Falls With Strong Demand Drivers And Future Secondary-Plan Expansion Nearby. Ideal For Investors Seeking Either Capital Appreciation Or Dependable Lifelong Income.This Is A True Dual-Path Opportunity: Build-To-Sell Or Build-To-Hold With Major Government Support.

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agent
Milad Momtaz Azad
(647) 510-8858
TypeDetached
Style2-Storey
Approx. Age0-5
Size1500-2000 sq. ft.
Property Tax$9,182
Lot Size200 ft x 217.8 ft
mls© NumberX13629384
Listed ByROYAL LEPAGE SIGNATURE REALTY

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%
$18,938
Property tax
$765
Heat allowance
$150
Housing costs
$19,853 / mo

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

Down payment20% · $740,000
25-yr amortization

Income needed

$611,000

gross annual household income

Payment at 4%
$15,570 / mo
Cash down
$740,000

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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