248 CYRUS Street

About this home

LIVE FOR FREE IN CAMBRIDGE! An exceptional opportunity for homeowners and investors alike. This beautifully renovated legal duplex, which offers the rare chance to significantly offset your mortgage-or potentially live for little to no cost-thanks to the strong rental income already in place. Situated on a generous 50-foot-wide lot in a desirable Cambridge neighbourhood, this property has been extensively updated from top to bottom. With major improvements already completed, including updated mechanicals, there is truly nothing left to do but move in and enjoy. The upper unit is currently leased to a wonderful family for $2,500 per month, providing immediate income from day one. The vacant lower-level legal apartment offers incredible flexibility: occupy it yourself while collecting rent from upstairs, or rent both units and maximize your return. Outside, you'll appreciate the newly widened driveway with parking for 5 to 6 vehicles, making it ideal for multi-generational living, tenants, guests, or hobbyists requiring extra parking. Whether you're a first-time buyer looking for mortgage assistance, a savvy investor seeking a turn-key income property, or someone wanting flexible living arrangements, this home checks all the boxes. Please note: Photos of the upper-level unit were taken prior to the current tenancy. The space is presently occupied by an excellent family who always pay their rent on time . Properties offering this level of renovation, flexibility, and income potential rarely become available. Don't miss your opportunity to own a turn-key property that works for you from the moment you take possession. (id:66966)

Details

Type

Detached

Style

Bungalow

Size

1000 sq ft

Basement

Finished, Full

Property tax

$4,174

Neighbourhood

Preston North

Municipality

Cambridge

Interior

Bedrooms

3 above ground + 2 below

Fireplace

No

Appliances

Washer, Refrigerator, Water softener, Range - Gas, Dishwasher, Stove, Dryer, Microwave, Microwave Built-in

Heating, cooling and services

Heating

Forced air, Natural gas

Air conditioning

Central air conditioning

Water and sewer

Municipal sewage system

Building and exterior

Style

Bungalow

Year built

1970

Foundation

Poured Concrete

Outdoor

Brick

Parking

Total parking

5

Driveway and parking

Open

Rooms

Location

Location is approximate. See nearby homes on the map