518 Cannon Street E, Hamilton
Welcome to this exceptional opportunity to own a fully tenanted 2.5-storey triplex ideally located on a prominent corner lot in Hamilton’s vibrant east end. Perfectly suited for buyers looking to break into the market with the advantage of built-in rental income, this property offers the ideal blend of homeownership and long-term financial flexibility. Whether you are looking to offset your mortgage through house hacking, build equity faster, or expand your real estate portfolio with a cash-flowing asset, this is the type of property that delivers versatility and upside. The home features three self-contained units across a spacious and character-filled layout, along with the added convenience of a side parking pad. Currently generating approximately $51,576 in annual gross income with a projected NOI of roughly $41,688 annually, the property also presents a strong conservative income profile even when accounting for management and maintenance reserves. Situated on Cannon Street East, the location provides excellent access to public transit, major routes, schools, parks, and Tim Hortons Field, while remaining close to everyday amenities and growing neighbourhood conveniences. A rare opportunity to secure an income-generating property with strong fundamentals, mortgage-support potential, and long-term value growth in one of Hamilton’s evolving communities. (id:1945)
This listing content provided by
REALTOR.ca
has been licensed by REALTOR®
members of The Canadian Real Estate Association
members of The Canadian Real Estate Association
Property details for 518 Cannon Street E, Hamilton
- Type
- Multi-family
- Bedrooms
- 5
- Bathrooms
- 3
- Living Area
- 2,125 square feet
- Lot Size
- 0.04
- Stories
- 2.5
- Basement
- Unfinished, Full
- Parking
- Open
- Heating
- Forced air, Natural gas
- Cooling
- Central air conditioning
- Exterior
- Vinyl siding
- Ownership
- Freehold
- Annual Taxes
- $2,763
Nearby Listings Stat
Estimated price and comparable properties near 518 Cannon Street E
Active Listings
16
Min Price
$449,900
Max Price
$999,900
Avg Price
$564,119
Days on Market
82
days
Sold Listings
6
Min Sold Price
$375,000
Max Sold Price
$825,000
Avg Sold Price
$666,483
Days until Sold
136
days
Neighbourhood Census Data
Hamilton, Ontario
Population
440
Median Age
30.8
Median Income
$22,464
Dwelling Value
$219,526
Housing Tenure
Owners 56%
Renters 44%
Age Distribution
Dwelling Types
Commute Mode
Education Level
Housing Age
Commute Duration
Avg Household Size: 2.9
Pop. Density: 6,790.1/km²
Avg Shelter Cost: $992/mo
Owners with Mortgage: 68.4%
Owners Spending 30%+: 0%
Tenants Spending 30%+: 37.5%
English only: 84.1%
English and French: 8%
Neither: 8%
Median Household Income: $44,416
Median Employment Income: $24,256
Price History
Listed
May 21, 2026
by Real Broker Ontario Ltd.
Current Price
$549,000
-8.3% from last change
Type
Multi-family
For Sale
Price Changes
1
| Date | Price | Change |
|---|---|---|
| Current | $549,000 | $50,000 (-8.3%) |
| Sep 4, 2026 | $599,000 | Listed |
