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248 CYRUS Street, Cambridge — listed at $749,900. Earn buyer cashback at closing. No catches, just more money in your pocket.
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:60164)
| Room | Level | Dimensions |
|---|---|---|
| Cold room | Lower level | 9'6'' x 3'8'' |
| 3pc Bathroom | Lower level | 5'10'' x 9'10'' |
| Utility room | Lower level | 4'9'' x 8'9'' |
| Kitchen | Lower level | 8'2'' x 15'3'' |
| Bedroom | Lower level | 13'4'' x 13'0'' |
| Bedroom | Lower level | 11'4'' x 19'7'' |
| Dining room | Main level | 8'9'' x 7'8'' |
| 4pc Bathroom | Main level | 4'8'' x 7'8'' |
| Bedroom | Main level | 10'4'' x 8'6'' |
| Bedroom | Main level | 10'4'' x 11'0'' |
| Primary Bedroom | Main level | 10'8'' x 11'0'' |
| Kitchen | Main level | 11'0'' x 11'10'' |
| Living room | Main level | 11'9'' x 16'3'' |
What are the ongoing costs beyond the mortgage?+
Budget for annual property taxes of $4,173.61, heating is forced air, natural gas. Always verify the latest figures with your agent before making an offer — these change yearly.
Is there air conditioning?+
Yes — central air conditioning cooling is in place.
Is 248 CYRUS Street a good fit for a growing family?+
With 5 bedrooms and 2 bathrooms (1000 sq ft), there's room for kids plus a guest room or home office.
This home was built in 1970 — what should I watch for?+
Homes from this era may have original wiring, plumbing, or insulation. Key checks: electrical panel (100 vs 200 amp), roof age, furnace age, and whether the basement has ever had water issues. A thorough home inspection is essential.
How is the home heated? Is it efficient?+
Heating is forced air, natural gas. Gas heating is generally the most cost-efficient option in Ontario winters.
Does it have a basement, and is it finished?+
Yes — Finished, Full. A finished basement adds meaningful living space beyond the listed square footage.
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