245 First Avenue, Welland

$699,999
245 First Avenue

$699,999

New
4d
DetachedBungalow

245 First Avenue, Welland

Total Monthly Obligation $3,795

Beds
4
Baths
3
Park
6
Sqft
1500-2000
DOM
4d
Score
22
Yield
6.2%
Cash on Cash
0.8%
Cap Rate
4.8%
5Y IRR
16.2%
10Y IRR
15.1%
Property Type-Detached
MLS® Number-X14093036
Beds-4
Bathrooms-3
Size-1500-2000 sqft
Lot Size-60 × 204 ft
Listed on site-Oct 19, 2026
Style-Bungalow
Building Type-Detached
Taxes-$7,153.55 (2026)
Parking-8 - Attached
Basement-Separate Entrance, Finished
Heating-Forced Air (Gas)
Brokerage-EXIT REALTY HARE (PEEL)
Cooling-Central Air
Laundry-No
Fireplace-Yes
Pool-None
Facing-West
Exterior-Brick
Roof-Shingles
Foundation-Unknown
Sewer-Sewer
Possession-TBA
Neighbourhood-767 - N. Welland
Title-Residential Freehold

No agent assigned

Welcome to this beautiful, spacious custom built bungalow sitting on a desirable 60 by 204 lot. Open concept layout and a carpet free home provides ample space for a growing family. Separate living room at foyer entrance can be converted to a bedroom as per builder floor plans. The huge family room with vaulted ceiling and skylights for extra sunlight is combined with a good size dining room that is great for entertaining. The updated kitchen has cambria countertops, S/S appliances, a centre island and a breakfast area with extended floor to ceiling cabinetry. This home has it all with some extra highlights such as in ground sprinkler system in front and backyard, a powered shed with open door to the back, a 2 car garage with a drive through/lift door accessible to backyard, a small pond with a waterfall in backyard, a separate entrance leading to the basement, a pergola in the backyard, a 3 season solarium and a cold cellar in the basement. This home offers the potential to create a second dwelling unit with a separate entrance to the basement as well as a 3pc washroom in the basement, a huge rec room with a gas fireplace, 2 bedrooms and an opportunity to create a kitchen and second laundry unit in the basement. The basement also has additional rooms for an office and exercise room. One of the show stoppers of this home is the 3 season solarium that overlooks a huge private backyard surrounded by mature trees. Great for entertaining and gardening. Your oasis awaits! Shingles (2015).

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

Closing Costs

Mortgage Amount
$559,999
Land Transfer Taxes$10,475
Legal Fees (Est.)
$
Total cash required for closing$151,975

Total Monthly Obligation

$3,795/mo
Mortgage $2,824
Monthly Loss $3,052
Principal$743
Interest$2,081
Property Tax$596
Home Insurance$125
Variable Costs$250
Returns
Weight: 25%
Cap Rate
3.9%26
Cash-on-Cash
-4.4%3
5-Year IRR
12.2%52
10-Year IRR
12.4%
Returns Index
26.8/ 100
Growth Sentiment
Weight: 20%
%/yr
Score+50
%/yr
Score+50
%
%
Growth Index
50.0/ 100
GradeD
22/ 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
$43,200/yr
NOI
$27,226/yr
Net Cash Flow
-$555/mo
Cash Margin
-15.4%0
Cash Flow Index
0.2/ 100
Risk Profile
Weight: 20%
DSCR
0.8014
LTV Ratio
80.0%18
Vacancy Buffer
2.5 mo40
Risk Index
24.3/ 100

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

Comparables

Properties near 245 First Avenue

Time

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