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4591 HOMEWOOD AVENUE, Niagara Falls (Cherrywood) — listed at $579,000. Earn buyer cashback at closing. No catches, just more money in your pocket.
INVESTMENT OPPORTUNITY - TWO UNITS VACANT AS OF DECEMBER 1, 2026. This legal non-conforming triplex offers excellent flexibility and income potential, with the rear 1-bedroom unit currently vacant and the main-floor 2-bedroom unit becoming vacant December 1, 2026, allowing a new owner to establish two new tenancies.The main-floor 2-bedroom unit was renovated in 2023, while the lower-level 3-bedroom unit was renovated in 2020 and features large windows with plenty of natural light. The rear unit offers 1 bedroom and 1 bathroom. Additional highlights include an oversized 2-car garage with hydro, two separate hydro meters, a new roof completed in 2023, and an owned hot water tank.With two units available for occupancy as of December, this is a great opportunity for an investor looking to reposition the property and maximize its income potential. (id:60164)
Could this work as an investment property?+
The basement description mentions: Finished, Separate entrance, N/A, N/A. If it has a separate entrance, there may be rental income potential — but verify zoning and whether a legal second unit is permitted in Niagara Falls (Cherrywood) before counting on it.
What are the ongoing costs beyond the mortgage?+
Budget for annual property taxes of $3,820, 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?+
No central cooling is listed. Budget for portable or window units, or get a quote for adding central air — typically $5,000–$10,000 installed.
Is this a good starter home?+
At $579,000, this is priced in starter-home territory for Niagara Falls (Cherrywood). With multiple bedrooms, it has room to grow into. Factor in property taxes when calculating your true monthly cost.
What's the parking situation?+
This property includes 7 spaces — Detached Garage, Garage.
Does it have a basement, and is it finished?+
Yes — Finished, Separate entrance, N/A, N/A. A finished basement adds meaningful living space beyond the listed square footage.
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