560 North Service Road 602, Grimsby

$515,786
560 North Service Road 602

$515,786

New
22d
Condo ApartmentApartment

560 North Service Road 602, Grimsby

Total Monthly Obligation $3,541

Bed+Den
3+1
Baths
2
Park
2
Sqft
900-999
DOM
22d
Score
15
Yield
5.3%
Cash on Cash
-11.7%
Cap Rate
2.1%
5Y IRR
6.4%
10Y IRR
7.5%
Property Type-Condo Apartment
MLS® Number-X13847556
Bed+Den-3+1
Bathrooms-2
Size-900-999 sqft
Listed on site-Oct 1, 2026
Style-Apartment
Building Type-Condo Apartment
Age-6-10
Taxes-$4,568 (2025)
Maintenance-$880/mo
Locker-Owned
Parking-2 - Underground
Basement-None
Heating-Forced Air (Gas)
Brokerage-HOMELIFE/MIRACLE REALTY LTD
Cooling-Central Air
Laundry-Yes
Fireplace-No
Pool-None
Exterior-Concrete, Other
Possession-Immediate
Neighbourhood-540 - Grimsby Beach
Title-Residential Condo & Other

No agent assigned

Prime Location! 2-Bedroom + Den Condo Apartment for Sale in Up-and-Coming Grimsby*** Discover this exceptional 2-bedroom Plus Den condo apartment With TWO PARKING, boasting unobstructed lake views! Located in the thriving community of Grimsby, this unit offers an open concept floor plan designed for modern living. The contemporary kitchen is equipped with stainless steel appliances and quartz countertops, seamlessly flowing into a spacious living and dining area. Enjoy access to a large covered balcony, perfect for relaxing and taking in the scenic views. The primary bedroom is generously sized, featuring a 4-piece en-suite and a walk-in closet for ample storage. The second bedroom is also spacious, ideal for family or guests. Additionally, there's a versatile den that can be used as a home office or a play/game room. Experience a resort-like lifestyle with this condos proximity to the lake. The location is incredibly convenient, situated near the QEW and within walking distance to the GO Station. Condo fees include all utilities, ensuring a hassle-free living experience. The building is well-managed, highly secure, This Spacious Apartment comes with two owned Side by Side parking spaces and a large locker, providing plenty of storage and parking options. Don't miss this opportunity to own a stunning condo in an excellent location, Building Amenities Include Rooftop Terrace, Party Room, Fitness Centre, Concierge, Guest Suites and visitor parking. **EXTRAS** Unobstructed Lake Views, Open Concept Floor Plan, This unit comes with two owned parking spaces and a large locker. Building Amenities Include Rooftop Terrace, Party Room, Fitness Centre, 24/7 Concierge, Guest Suites and visitor parking.

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%
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$
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(utilities, internet...)
$
%
%

Closing Costs

Mortgage Amount
$424,183($11,554 CMHC)
Land Transfer Taxes$6,791
Legal Fees (Est.)
$
Total cash required for closing$111,448

Total Monthly Obligation

$3,599/mo
Mortgage $2,139
Monthly Loss $3,037
Principal$563
Interest$1,576
Property Tax$381
Condo Fees$880
Home Insurance$50
Variable Costs$150
Returns
Weight: 25%
Cap Rate
1.4%9
Cash-on-Cash
-16.9%0
5-Year IRR
1.5%4
10-Year IRR
5.1%
Returns Index
3.5/ 100
Growth Sentiment
Weight: 20%
%/yr
Score+50
%/yr
Score+50
%
%
Growth Index
50.0/ 100
GradeD
15/ 100
Avoid•Pass

Strategy: Buy & Hold — Weights: CFI 35% · RI 25%
RKI 20% · GI 20%

Assumptions & Inputs
$/mo
%
$
yr
%
Cash Flow
Weight: 35%
Gross Rent
$27,216/yr
NOI
$6,966/yr
Net Cash Flow
-$1,558/mo
Cash Margin
-68.7%0
Cash Flow Index
0.0/ 100
Risk Profile
Weight: 20%
DSCR
0.272
LTV Ratio
82.2%14
Vacancy Buffer
2.7 mo44
Risk Index
19.9/ 100

*This analysis is independently generated NOT provided by TREB or CREA.

Comparables

Properties near 560 North Service Road 602

Time

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Data last updated within the past 24 hours.