
187 Ray Street, Hamilton
Hamilton
$589,900
Cash flow, cap rate & mortgage breakdown
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Listed by RE/MAX ESCARPMENT REALTY INC.
Investment Analysis
Key Facts
Type
Semi-Detached
Bedrooms
2
Bathrooms
2
Days on Market
2
Price Drop
None
Year Built
N/A
Status
Active
Basement Income
Suite Potential (+$1,190/mo)
Rent Estimate
Estimated from market price-to-rent ratios · Verify suite legality with the City of Mississauga
Remarks
Nestled in one of Hamilton's most sought-after and rapidly evolving neighbourhoods, this beautifully renovated home offers an exceptional lifestyle just moments from Bayfront Park, West Harbour Go Station, TD Coliseum, James St. North, waterfront trails, vibrant downtown amenities, lush green spaces, & convenient highway access. Thoughtfully reimagined in 2024, the home blends timeless style with modern comfort. At its heart is a stunning designer kitchen featuring an expansive dining area, ideal for both everyday living and effortless entertaining. Significant upgrades provide peace of mind, including Timberline HDZ GAF shingles (2022), furnace (2021), central air conditioning (2025), stove (2022), dishwasher and refrigerator (2024). The home features two beautifully appointed bathrooms, including a spa-inspired main bath complete with a luxurious soaker tub. A separate rear entrance and kitchen sink rough-in create outstanding potential for a private in-law suite. Step outside to your own private retreat, where beautiful gardens are complemented by elegant concrete patios, manicured green space, and a spacious storage shed, offering the perfect balance of beauty and functionality. Completing this exceptional home are an impressive oversized living room and a generously proportioned primary bedroom, providing an abundance of space for comfortable, refined living in one of Hamilton's most desirable locations.
MississaugaInvestor.ca
187 Ray Street
Semi-Detached · 2bd/2ba · ~900 sqft
$589,900
Cash-Flow Report · July 31, 2026
Cap Rate
3.06%
Monthly Cash Flow
-$1,211/mo
Estimated Rent
$2,990/mo
Cash-on-Cash
-11.24%
Monthly (20% down · 4.89% rate · 25yr)
| Gross Rent | +$2,990 |
| Mortgage | −$2,715 |
| Property Tax | −$619 |
| Insurance | −$225 |
| Maintenance (1% of value/yr) | −$492 |
| Vacancy (5%) | −$150 |
| Cash Flow | -$1,211/mo |
Annual NOI & Cap Rate (All-Cash)
| Gross Rent | +$35,880 |
| Vacancy (5%) | −$1,794 |
| Property Tax | −$7,433 |
| Insurance | −$2,700 |
| Maintenance (1% of value/yr) | −$5,899 |
| Annual NOI | $18,054 |
| Cap Rate | 3.06% |
Cash Required to Close
| Down Payment (20%) | $117,980 |
| Ontario Land Transfer Tax | $8,273 |
| Legal & Title Insurance | $2,500 |
| Inspection & Misc | $500 |
| Total Cash Required | $129,253 |
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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