224 Lyon Street N 1009, Ottawa Centre

$295,000
224 Lyon Street N 1009

$295,000

New
9d
Condo Apartment1 Storey/Apt

224 Lyon Street N 1009, Ottawa Centre

Total Monthly Obligation $2,035

Beds
0
Baths
1
Park
0
Sqft
0-499
DOM
9d
Score
21
Yield
7.0%
Cash on Cash
-3.0%
Cap Rate
3.9%
5Y IRR
13.2%
10Y IRR
12.7%
Property Type-Condo Apartment
MLS® Number-X14030620
Beds-0
Bathrooms-1
Size-0-499 sqft
Listed on site-Oct 14, 2026
Style-1 Storey/Apt
Building Type-Condo Apartment
Age-11-15
Taxes-$3,248 (2026)
Maintenance-$374/mo
Locker-Exclusive
Parking-None
Basement-None
Heating-Forced Air (Gas)
Brokerage-RE/MAX HALLMARK REALTY GROUP
Cooling-Central Air
Laundry-Yes
Fireplace-No
Pool-None
Exterior-Concrete Block
Possession-Highly Flexible
Neighbourhood-4102 - Ottawa Centre
Title-Residential Condo & Other

No agent assigned

Open House: Sunday October 18 - 2:00-4:00pm. Experience the pinnacle of downtown living at 224 Lyon Street in the iconic Gotham building. Whether you are a first-time buyer stepping into the market, a busy professional seeking to eliminate commute times during the workweek or looking for the ideal weekend lock-and-leave pied-a-terre, this meticulously designed space offers a lifestyle that works for everyone. The layout features a signature separate den for a distinct and private sleeping area, setting it apart from standard studios. Clever architectural design shines with a thoughtfully offset patio door that maximizes usable floor space, allowing for flexible furniture arrangements along the exterior wall and seamless access to a private balcony boasting warm afternoon sun. The interior features elegant dark hardwood floors and a sleek modern white kitchen equipped with premium stainless steel appliances and quartz countertops, complemented by in-suite laundry and a full bathroom. Residents benefit from premium building amenities including on-site concierge service for package handling, enhanced security with an after-hours second security door and a spacious party room featuring a sunny south-facing balcony with a BBQ area. Embrace an effortless urban lifestyle where you can walk to work, enjoy weeknights downtown and hit the road with ease on the weekends.

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(utilities, internet...)
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%
%

Closing Costs

Mortgage Amount
$236,000
Land Transfer Taxes$2,900
Legal Fees (Est.)
$
Total cash required for closing$63,400

Total Monthly Obligation

$2,035/mo
Mortgage $1,190
Monthly Loss $1,721
Principal$313
Interest$877
Property Tax$271
Condo Fees$374
Home Insurance$50
Variable Costs$150
Returns
Weight: 25%
Cap Rate
2.8%17
Cash-on-Cash
-9.3%1
5-Year IRR
8.6%27
10-Year IRR
9.8%
Returns Index
14.4/ 100
Growth Sentiment
Weight: 20%
%/yr
Score+50
%/yr
Score+50
%
%
Growth Index
50.0/ 100
GradeD
21/ 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
$20,556/yr
NOI
$8,364/yr
Net Cash Flow
-$493/mo
Cash Margin
-28.8%0
Cash Flow Index
0.0/ 100
Risk Profile
Weight: 20%
DSCR
0.597
LTV Ratio
80.0%18
Vacancy Buffer
4.7 mo80
Risk Index
34.9/ 100

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

Comparables

Properties near 224 Lyon Street N 1009

Time

Comparables are calculated within a 3km radius based on properties sold or leased within the past 6 months. This helps you understand the current market value and potential rental yield with high precision.

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Data last updated within the past 24 hours.