248 CYRUS Street, Cambridge, Ontario
$649,900
- 5 Beds
- 2 Baths
- 2,000 Square Feet
OWN YOUR HOME FOR LESS THAN THE COST OF RENT! This beautifully renovated bungalow with a legal accessory apartment offers a rare opportunity to enjoy homeownership in a fantastic Cambridge neighbourhood while significantly offsetting your mortgage. With $2,500 per month already coming in from the upper-level unit, you can enjoy the benefits of a fully updated home at a cost that may be less than many rental payments. Situated on a generous 50-foot-wide lot, this turn-key property has been extensively renovated from top to bottom. Major updates have already been completed, including mechanical systems, leaving nothing to do but move in and enjoy. The upper-level unit is currently occupied by an excellent family paying $2,500 per month, providing immediate income from day one. The vacant lower-level legal apartment offers exceptional flexibility and offers 2 large bedrooms, spacious living room, and large windows allow the rooms to fill with light. Live in one unit while collecting rent from the other, accommodate extended family, or maximize your investment by renting both units. Outside, you’ll appreciate the newly widened driveway with parking for 5 to 6 vehicles, making it ideal for multi-generational living, tenants, guests, or hobbyists needing extra space. Whether you’re a first-time buyer looking for mortgage assistance, an investor seeking a turn-key income property, or someone looking for flexible living arrangements, this property checks all the boxes. Please note: Photos of the upper-level unit were taken prior to the current tenancy. The unit is presently occupied by wonderful tenants who pay on time and would be happy to stay. Opportunities offering this combination of renovation, income potential, and flexibility are hard to find. Own a great home in a great neighbourhood—while your tenant helps pays most of the mortgage. (id:23309)
- Listing ID: 40842052
- Property Type: Single Family
- Year Built: 1970
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Listing provided by Keller Williams Home Group Realty, Brokerage
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This REALTOR.ca listing content is owned and licensed by REALTOR® members of the Canadian Real Estate Association. This property for sale is located at 248 CYRUS Street in Cambridge Ontario. It was last modified on June 23rd, 2026. Contact Bob Downer to schedule a viewing or to discover other Cambridge homes for sale.