341 FIRST Street, Central Elgin

$429,900
341 FIRST Street

$429,900

New
8d
DetachedBungalow

341 FIRST Street, Central Elgin

Total Monthly Obligation $2,332

Beds
2
Baths
1
Park
3
Sqft
< 700
DOM
8d
Score
19
Yield
4.5%
Cash on Cash
-5.7%
Cap Rate
3.4%
5Y IRR
11.1%
10Y IRR
11.1%
Property Type-Detached
MLS® Number-X14086202
Beds-2
Bathrooms-1
Size-< 700 sqft
Lot Size-43.44 × 95.35 ft
Listed on site-Oct 15, 2026
Style-Bungalow
Building Type-Detached
Age-100+
Taxes-$2,677 (2025)
Parking-3 - None
Basement-None
Heating-Heat Pump (Other)
Brokerage-RE/MAX CENTRE CITY REALTY INC
Cooling-Wall Unit(s)
Laundry-No
Fireplace-Living Room, Natural Gas
Pool-None
Facing-North
Exterior-Wood
Roof-Asphalt Shingle
Foundation-Concrete
Sewer-Sewer
Possession-IMMEDIATE
Neighbourhood-Port Stanley
Title-Residential Freehold

No agent assigned

RARE PORT STANLEY! - DETACHED BEACH COTTAGE WITH 3-CAR PARKING! Welcome to 341 First Street, a move-in-ready, year-round 2-bedroom cottage on a street with a proven, established short-term rental history right in the heart of this charming beachside community. This property delivers a massive premium that is highly sought-after steps from the sand: a deep driveway with dedicated parking for up to 3 vehicles. Inside, the inviting open-concept layout seamlessly connects the kitchen and the living area, which features a cozy gas fireplace adding warmth and character. Modern conveniences include a wall-mounted Split HVAC System for efficient heating and cooling, a 3-piece bathroom, and a stackable washer/dryer neatly tucked away. Outside, enjoy a charming front porch, a spacious front yard, and a rear deck perfect for summer barbecues that backs onto green space for exceptional privacy with no rear neighbors. A handy storage shed provides plenty of space for beach gear and seasonal items. Whether you are searching for an affordable personal year-round beach retreat, a highly profitable addition to your rental portfolio, or an effortless Airbnb setup, this property represents the absolute best value at the beach in Port Stanley.

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

Closing Costs

Mortgage Amount
$343,920
Land Transfer Taxes$5,073
Legal Fees (Est.)
$
Total cash required for closing$92,553

Total Monthly Obligation

$2,332/mo
Mortgage $1,734
Monthly Loss $1,876
Principal$456
Interest$1,278
Property Tax$223
Home Insurance$125
Variable Costs$250
Returns
Weight: 25%
Cap Rate
2.4%14
Cash-on-Cash
-11.6%0
5-Year IRR
6.6%17
10-Year IRR
8.0%
Returns Index
9.6/ 100
Growth Sentiment
Weight: 20%
%/yr
Score+50
%/yr
Score+50
%
%
Growth Index
50.0/ 100
GradeD
19/ 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
$19,200/yr
NOI
$10,103/yr
Net Cash Flow
-$892/mo
Cash Margin
-55.8%0
Cash Flow Index
0.0/ 100
Risk Profile
Weight: 20%
DSCR
0.494
LTV Ratio
80.0%18
Vacancy Buffer
4.1 mo71
Risk Index
31.4/ 100

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

Comparables

Properties near 341 FIRST Street

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.