
LPH13- 118 King Street, Hamilton
Hamilton
$565,000
Cash flow, cap rate & mortgage breakdown
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Listed by ROYAL LEPAGE STATE REALTY
Investment Analysis
Key Facts
Type
Condo Apartment
Bedrooms
2
Bathrooms
1
Days on Market
393
Price Drop
13%
Year Built
N/A
Status
Active
Basement Income
None Detected
Rent Estimate
$1,950/mo
Estimated from market price-to-rent ratios
Remarks
Welcome to this lovely lower penthouse at the iconic Royal Connaught, a beautifully preserved piece of Hamiltons history right in the heart of downtown. This pristine, sun-filled unit offers soaring 13-foot ceilings, a bright open-concept layout, and southwest views. The modern kitchen is perfect for entertaining, featuring a waterfall quartz island, matching quartz countertops, and custom glass backsplash. The spacious living area includes a custom feature wall with electric fireplace. Enjoy added comfort and convenience with automated blinds throughout, a double vanity in the large 4-piece bath, a custom glass-enclosed tub/shower,in-suite laundry, and a walk-in closet in the primary bedroom. This unit also comes with an owned locker and an underground parking spot. Located just steps to everything you love about city living including trendy cafes, shops, art galleries, restaurants, and the vibrant energy of James Street. You'll also love the easy access to hospital services, transit, and GO Station connections. If you're ready for a blend of luxury, history, and urban convenience, this spectacular condo might just be your perfect match.
MississaugaInvestor.ca
LPH13- 118 King Street
Condo Apartment · 2bd/1ba · ~1,100 sqft
$565,000
Cash-Flow Report · August 1, 2026
Cap Rate
0.46%
Monthly Cash Flow
-$2,387/mo
Estimated Rent
$1,950/mo
Cash-on-Cash
-23.14%
Monthly (20% down · 4.89% rate · 25yr)
| Gross Rent | +$1,950 |
| Mortgage | −$2,601 |
| Property Tax | −$593 |
| Insurance | −$225 |
| Condo Fee | −$820 |
| Vacancy (5%) | −$98 |
| Cash Flow | -$2,387/mo |
Annual NOI & Cap Rate (All-Cash)
| Gross Rent | +$23,400 |
| Vacancy (5%) | −$1,170 |
| Property Tax | −$7,119 |
| Insurance | −$2,700 |
| Condo Fee | −$9,840 |
| Annual NOI | $2,571 |
| Cap Rate | 0.46% |
Cash Required to Close
| Down Payment (20%) | $113,000 |
| Ontario Land Transfer Tax | $7,775 |
| Legal & Title Insurance | $2,500 |
| Inspection & Misc | $500 |
| Total Cash Required | $123,775 |
Assumptions: 20% down · 4.89% rate · 25yr amort · Canadian semi-annual compounding · $225/mo insurance · maintenance reserve = greater of 8% of rent or 1% of value/yr (condo fee replaces it) · 5% vacancy · rent estimated from neighbourhood MLS comps. All figures are estimates — verify with a licensed professional before making an investment decision.
Prepared by Hamza Nouman · RECO-registered Investor Specialist · 647-609-1289 · hamza@nouman.ca · MississaugaInvestor.ca
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