For Sale: 248 Cyrus Street, Cambridge, ON - REW
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$749,000
5 bd • 2 ba • 2000 sf • Multifamily
248 Cyrus Street
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$749,000
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248 Cyrus StreetCambridge, ON, N3H 1H3

  • 5 Bed
  • 2 Bath
  • 2000 Sqft
  • Multifamily

About this home

OWN YOUR HOME FOR LESS THAN THE COST OF RENT! This beautifully renovated bungalow with a legal accessory apartment offers a rare opportunity to enjoy homeownership in a fantastic Cambridge neighbourhood while significantly offsetting your mortgage. With $2,500 per month already coming in from the upper-level unit, you can enjoy the benefits of a fully updated home at a cost that may be less than many rental payments. Situated on a generous 50-foot-wide lot, this turn-key property has been extensively renovated from top to bottom. Major updates have already been completed, including mechanical systems, leaving nothing to do but move in and enjoy. The upper-level unit is currently occupied by an excellent family paying $2,500 per month, providing immediate income from day one. The vacant lower-level legal apartment offers exceptional flexibility and offers 2 large bedrooms, spacious living room, and large windows allow the rooms to fill with light. Live in one unit while collecting rent from the other, accommodate extended family, or maximize your investment by renting both units. 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 needing extra space. Whether you’re a first-time buyer looking for mortgage assistance, an investor seeking a turn-key income property, or someone looking for flexible living arrangements, this property checks all the boxes. Please note: Photos of the upper-level unit were taken prior to the current tenancy. The unit is presently occupied by wonderful tenants who pay on time and would be happy to stay. Opportunities offering this combination of renovation, income potential, and flexibility are hard to find. Own a great home in a great neighbourhood—while your tenant helps pays most of the mortgage. (id:63626)
Listed by: LESLEY SHORT, Salesperson, Keller Williams Home Group Realty, Brokerage

Home facts and features

Price details
List Price
$749,000
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Gross Taxes for 2026
$4,174
Home facts
Bedrooms
5
Full Bathrooms
2
Parking Spaces
5
Parking Details
Open
Property Type
Multifamily
Depth
Frontage
50.0 feet
Year Built
Built in 1970 (56 yrs old)
Title
Freehold
Exterior Finish
Brick
Heating Type
Forced air, Natural gas
Cooling
Central air conditioning
Basement Details
Finished, Full
Features
Paved driveway
Appliances
Water softener
Agent details
Primary Agent
LESLEY SHORT
Primary Broker
Keller Williams Home Group Realty, Brokerage
Listing details
Days on REW
29 Days
MLS® Number
40842655
Source
Canadian Real Estate Association
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Amortization
25 Years
Interest Rate
3.99%

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Property Insights

Parkway Public School
  • Public
  • JK - 6
Preston High School
  • Public
  • 9 - 12
Preston Public School
  • Public
  • JK - 6
St Joseph Catholic Elementary School
  • Catholic
  • JK - 8
Grand View Public School
  • Public
  • JK - 6
Coronation Public School
  • Public
  • JK - 6
St Michael Catholic Elementary School
  • Catholic
  • JK - 8
William G Davis Public School
  • Public
  • 7 - 8
ÉÉC Saint-Noël-Chabanel-Cambridge
  • Catholic
  • JK - 6
Père-René-de-Galinée
  • Catholic
  • 7 - 12
School catchments and distances are intended to be used as reference only. To verify enrolment eligibility for a property, contact the school directly.Report Incorrect Info
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Call Agent
Salesperson
LESLEY SHORT
Phone:
(519) 841-5418
Cell:
519-841-5418
Office:
226-780-0202
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By proceeding, you consent to receive communications using the methods provided, from REW.ca and our partners about your inquiry and other home-related matters to assist you in your search, but not as a condition of any purchase.