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518 Cannon Street

Hamilton, Hamilton

$549,000
5 beds 3 baths 2,125 sqftLot: 1742.4Multi-3 UnitListed 3 months ago

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.

AI value estimate

$586K

Listed 6% below est.

Range $511K$660K · Good confidence

Modeled from recent comparable sales, list price, MLS attributes, and city-level price-per-sqft trends. Not an appraisal — for a precise value, request a complimentary review from our team.

* Estimates are AI-generated and not an appraisal. Commercial and rental properties are excluded because rental income and cap rates aren't verifiable from MLS data.

MLS® 40832202. Listing courtesy of Real Broker Ontario Ltd.. Data is refreshed daily. REALTOR®, MLS® and associated logos are trademarks of The Canadian Real Estate Association.

371 Google Reviews
Great experience! Jason was a tremendous help from the beginning when we were looking for a house, all through the purchase and closing of our new home.
JesseJesse · 3 weeks ago
Mike was amazing! We felt comfortable from the moment we met him. He was able to sell our condo in 1 week!! In this market, that is nothing short of a miracle. He spent countless hours taking us on showings until we found the perfect place for our family. We finally have space to grow and a backyard...thank you!!!
Marlee GallinaMarlee Gallina · a month ago
Working with Branden was an amazing experience, especially as this was my first home. He has great knowledge about first time home buyer programs, and connected me with excellent professionals to create a seamless experience from viewing to close. I would absolutely work with Branden again in the future.
Sonia DhaliwalSonia Dhaliwal · a month ago
I don’t think there is anything harder than trying to keep 4 adults happy with one house. Regina did it with ease. She was always friendly, patient and kind. She had faith we would find a house to make us all happy, even when I didn’t. If you need a realtor that goes the extra mile, is always there when you call, I highly recommend Regina. Thanks so much Regina for making a stressful time easier.
Vickie SebastiaoVickie Sebastiao · a month ago
The best team to work with :) -Regina Marin
Regina MarinRegina Marin · a month ago
I do not usually write reviews..however the service provided and the level of genuine concern and care expressed by Branden Nauss deserves to be acknowledged. Branden took time and effort beyond what is required by am agent with our recent purchase. Talked us off the proverbial ledge a few times..dealt with difficult issues (caused by extenuating circumstances surround the property) in a very professional manner. I have known him in a professional capacity for a few years now...but due to his nature and outlook I now consider him a friend!
Gerald SchuttenGerald Schutten · a month ago
Branden Nauss helped me hunt for the perfect home for me and went above and beyond in many ways, probably the most important was he kept me on track with my goals and original vision. Plus, we had some great conversations! A great guy who did an amazing job and was a lot of fun to hang out with. His integrity and patience was what held the whole long process together.
Caroline MCaroline M · a month ago
We had an amazing experience with Branden Nauss. He helped our family of five find the perfect home when we moved from Toronto to the Niagara area. Later, when we were looking for another home in a different area of Niagara, he was there to help us again. Branden is accommodating, kind, knowledgeable, and professional. Whenever someone asks me for a realtor, I always recommend him without hesitation. He truly goes above and beyond for his clients and is amazing at what he does!
Maya McGowan-RossMaya McGowan-Ross · a month ago
Great experience! Jason was a tremendous help from the beginning when we were looking for a house, all through the purchase and closing of our new home.
JesseJesse · 3 weeks ago
Mike was amazing! We felt comfortable from the moment we met him. He was able to sell our condo in 1 week!! In this market, that is nothing short of a miracle. He spent countless hours taking us on showings until we found the perfect place for our family. We finally have space to grow and a backyard...thank you!!!
Marlee GallinaMarlee Gallina · a month ago
Working with Branden was an amazing experience, especially as this was my first home. He has great knowledge about first time home buyer programs, and connected me with excellent professionals to create a seamless experience from viewing to close. I would absolutely work with Branden again in the future.
Sonia DhaliwalSonia Dhaliwal · a month ago
I don’t think there is anything harder than trying to keep 4 adults happy with one house. Regina did it with ease. She was always friendly, patient and kind. She had faith we would find a house to make us all happy, even when I didn’t. If you need a realtor that goes the extra mile, is always there when you call, I highly recommend Regina. Thanks so much Regina for making a stressful time easier.
Vickie SebastiaoVickie Sebastiao · a month ago
The best team to work with :) -Regina Marin
Regina MarinRegina Marin · a month ago
I do not usually write reviews..however the service provided and the level of genuine concern and care expressed by Branden Nauss deserves to be acknowledged. Branden took time and effort beyond what is required by am agent with our recent purchase. Talked us off the proverbial ledge a few times..dealt with difficult issues (caused by extenuating circumstances surround the property) in a very professional manner. I have known him in a professional capacity for a few years now...but due to his nature and outlook I now consider him a friend!
Gerald SchuttenGerald Schutten · a month ago
Branden Nauss helped me hunt for the perfect home for me and went above and beyond in many ways, probably the most important was he kept me on track with my goals and original vision. Plus, we had some great conversations! A great guy who did an amazing job and was a lot of fun to hang out with. His integrity and patience was what held the whole long process together.
Caroline MCaroline M · a month ago
We had an amazing experience with Branden Nauss. He helped our family of five find the perfect home when we moved from Toronto to the Niagara area. Later, when we were looking for another home in a different area of Niagara, he was there to help us again. Branden is accommodating, kind, knowledgeable, and professional. Whenever someone asks me for a realtor, I always recommend him without hesitation. He truly goes above and beyond for his clients and is amazing at what he does!
Maya McGowan-RossMaya McGowan-Ross · a month ago
Read all reviews →