
2309- 15 Queen Street, Hamilton
Hamilton
$599,900
Cash flow, cap rate & mortgage breakdown
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Listed by RE/MAX ESCARPMENT REALTY INC.
Investment Analysis
Key Facts
Type
Condo Apartment
Bedrooms
2
Bathrooms
2
Days on Market
18
Price Drop
8%
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 penthouse living at Unit 2309, 15 Queen Street South, in the heart of downtown Hamilton. This impressive 2-bedroom, 2-bathroom Washington Fusion-style suite faces the Hamilton waterfront and offers breathtaking panoramic views stretching toward the Toronto skyline. The bright and spacious open-concept layout features 9-foot ceilings and numerous upgrades throughout. The modern kitchen is complete with quartz countertops, stainless steel appliances, ample cabinetry, and an oversized island ideal for dining, entertaining, or working from home. The sun-filled living area opens directly onto an oversized private balcony, creating the perfect space to relax, host guests, and enjoy the incredible city and waterfront views. Both bedrooms are generously sized, including a spacious primary bedroom with its own private ensuite bathroom. The second bedroom provides excellent flexibility for guests, family, or a home office. Residents enjoy outstanding building amenities, including a fully equipped fitness centre, party room, outdoor BBQ area, visitor parking, and a secure underground parking garage. One underground parking space is included. Ideally located near Locke Street, Hess Village, restaurants, cafés, shopping, public transit, the Hamilton GO Centre, downtown amenities, and quick access to Highway 403. This exceptional penthouse combines modern style, impressive upgrades, outstanding amenities, and unforgettable views in one of Hamilton's most convenient locations.
MississaugaInvestor.ca
2309- 15 Queen Street
Condo Apartment · 2bd/2ba · ~850 sqft
$599,900
Cash-Flow Report · August 1, 2026
Cap Rate
0.98%
Monthly Cash Flow
-$2,270/mo
Estimated Rent
$1,950/mo
Cash-on-Cash
-20.72%
Monthly (20% down · 4.89% rate · 25yr)
| Gross Rent | +$1,950 |
| Mortgage | −$2,761 |
| Property Tax | −$630 |
| Insurance | −$225 |
| Condo Fee | −$506 |
| Vacancy (5%) | −$98 |
| Cash Flow | -$2,270/mo |
Annual NOI & Cap Rate (All-Cash)
| Gross Rent | +$23,400 |
| Vacancy (5%) | −$1,170 |
| Property Tax | −$7,559 |
| Insurance | −$2,700 |
| Condo Fee | −$6,072 |
| Annual NOI | $5,899 |
| Cap Rate | 0.98% |
Cash Required to Close
| Down Payment (20%) | $119,980 |
| Ontario Land Transfer Tax | $8,473 |
| Legal & Title Insurance | $2,500 |
| Inspection & Misc | $500 |
| Total Cash Required | $131,453 |
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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