40 Elgin St N
Cambridge, N1R 5G9
FOR SALE
$499,000
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2 + 1
BEDROOMS2
BATHROOMS1 + 1
KITCHENS4 + 3
ROOMSX12005098
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Property Description
POSTIVE CASH FLOW PROPERTY generating $3,900 in rental income. Featuring separate upstairs and downstairs living spaces, this home offers flexibility and strong income potential. Dont miss out on this high-return investment!Would you like to highlight any other features, such as location, upgrades, or lot size?Welcome home to 40 Elgin St N, a delightful bungalow perfectly positioned on a generous oversized lot in the highly desirable East Galt neighborhood. This inviting home offers a bright and spacious living and dining area, a beautifully updated kitchen, a stylish 4-piece bathroom, and two extra-large bedrooms. The primary bedroom features a walkout to a massive, fully fenced backyard, complete with three handy storage sheds. The cozy lower level boasts a private entrance and a charming in-law suite, offering an open-concept kitchen and living area, a spacious bedroom, and a modern 3-piece bath. Plus, theres a large utility room with plenty of storage and laundry space. Ideally located just minutes from top-rated schools, shopping, dining, parks, and public transit, this home is a perfect blend of comfort and convenience!
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Listing History
| List Date | End Date | Days Listed | List Price | Sold Price | Status |
|---|---|---|---|---|---|
| 2024-01-23 | 2024-02-27 | 35 | $1,600 | - | Terminated |
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Property Details
Street
City
Property Type
Detached, Bungalow
Lot Size
58' x 139'
Fronting
West
Taxes
$3,413 (2024)
Basement
Fin W/O
Exterior
Stucco/Plaster
Heat Type
Forced Air
Heat Source
Gas
Air Conditioning
Central Air
Water
Municipal
Parking Spaces
4
Driveway
Pvt Double
Garage Type
None
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Room Summary
| Room | Level | Size | Features |
|---|---|---|---|
| Living | Main | 10.93' x 17.75' | Pot Lights, Combined W/Dining, Laminate |
| Br | Main | 11.42' x 16.67' | W/O To Yard, Closet, Laminate |
| 2nd Br | Main | 11.42' x 16.34' | His/Hers Closets, Window, Laminate |
| Kitchen | Main | 8.60' x 10.99' | B/I Dishwasher, Custom Backsplash, Ceramic Floor |
| Living | Bsmt | 12.24' x 16.50' | Open Concept, Vinyl Floor, Pot Lights |
| Br | Bsmt | 8.01' x 9.68' | Closet, Window, Pot Lights |
| Utility | Bsmt | 13.25' x 17.16' | Window, Combined W/Laundry, Laundry Sink |
| Kitchen | Bsmt | 9.09' x 9.15' | Window, Pot Lights, Ceramic Floor |
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Cambridge Market Statistics
Cambridge Price Trend
40 Elgin St N is a 2-bedroom 2-bathroom home listed for sale at $499,000, which is $205,666 (29.2%) lower than the average sold price of $704,666 in the last 30 days (January 21 - February 19). During the last 30 days the average sold price for a 2 bedroom home in Cambridge declined by $45,334 (6.0%) compared to the previous 30 day period (December 22 - January 20) and up $57,848 (8.9%) from the same time one year ago.Inventory Change
There were 8 2-bedroom homes listed in Cambridge over the last 30 days (January 21 - February 19), which is up 300.0% compared with the previous 30 day period (December 22 - January 20) and down 27.3% compared with the same period last year.Sold Price Above/Below Asking ($)
2-bedroom homes in Cambridge typically sold $62,000 (8.8%) above asking price over the last 30 days (January 21 - February 19), which represents a $62,000 increase compared to the previous 30 day period (December 22 - January 20) and $25,181 more than the same period last year.Sales to New Listings Ratio
Sold-to-New-Listings ration (SNLR) is a metric that represents the percentage of sold listings to new listings over a given period. The value below 40% is considered Buyer's market whereas above 60% is viewed as Seller's market. SNLR for 2-bedroom homes in Cambridge over the last 30 days (January 21 - February 19) stood at 37.5%, down from 250.0% over the previous 30 days (December 22 - January 20) and down from 100.0% one year ago.Average Days on Market when Sold vs Delisted
An average time on the market for a 2-bedroom 2-bathroom home in Cambridge stood at 14 days when successfully sold over the last 30 days (January 21 - February 19), compared to 49 days before being removed from the market upon being suspended or terminated.Listing contracted with Spark Realty Inc.
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