Converted Dwelling

With 20% down, your monthly out-of-pocket cost to live in one unit of this Hamilton-Waltherson duplex is just $374 after applying market rent from the second unit toward your PITI. With FHA or conventional financing and as little as 3.5% down, total monthly PITI is approximately $2,332 + PMI. Apply the projected $1,250 rent from the other apartment, and your cost drops to just $882/month. That’s before deducting mortgage interest and property taxes—an added tax benefit that renters never get! Apartment 2, the vacant second-floor unit, is an ideal owner’s unit with a comfortable 1BR + den layout, a modern bath, and all-new wall-to-wall carpeting. Apartment 1 spans the first floor and basement, offering 2BR + den, a finished lower-level living area, and a private laundry room. Both units feature wood cabinetry, laminate counters, 24" gas ranges, and ceramic tile tub surrounds. Located just a mile from the shops and restaurants of downtown Hamilton and a half mile from Belair Road retail, this Hamilton-Waltherson location offers walkable access to daily amenities and a more stable, owner-occupied setting. These are easy-to-maintain, easy-to-rent units in a neighborhood where well-priced housing continues to lease quickly. For straight investors, this property projects a 10.7% cash-on-cash return and a 9.06% cap rate based on market rents—making it a solid addition to any cash flow–focused portfolio.