279 Millen Road, Hamilton
Hamilton
$589,990
Cash flow, cap rate & mortgage breakdown
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Listed by RE/MAX ESCARPMENT REALTY INC.
Investment Analysis
Key Facts
Type
Detached
Bedrooms
3
Bathrooms
1
Days on Market
2
Price Drop
None
Year Built
N/A
Status
Active
Basement Income
Legal Suite (+$1,400/mo)
Rent Estimate
Estimated from market price-to-rent ratios
Remarks
Welcome to 279 Millen Road, Stoney Creek! Situated on a generous 55' x 120' corner lot, this 3-bedroom bungalow offers outstanding value for first-time buyers, downsizers, investors, or anyone looking for a property with future potential. Inside, you'll find a bright and spacious living room with beautiful hardwood floors, an eat-in kitchen, three comfortable bedrooms, a full 4-piece bath, and an unfinished basement ready for your personal touch. Step outside to enjoy a large backyard featuring mature fruit trees, a detached garage, two additional storage sheds, and plenty of parking. The expansive lot offers exciting possibilities and is conveniently located close to schools, parks, shopping, public transit, and with quick access to the QEW, this home is perfectly positioned for commuters while offering the charm of an established Stoney Creek neighbourhood. Lower Stoney Creek is known for its mature streets, established homes, and excellent access to major highways and local amenities.
MississaugaInvestor.ca
279 Millen Road
Detached · 3bd/1ba · ~900 sqft
$589,990
Cash-Flow Report · July 31, 2026
Cap Rate
4.14%
Monthly Cash Flow
-$681/mo
Estimated Rent
$3,550/mo
Cash-on-Cash
-6.32%
Monthly (20% down · 4.89% rate · 25yr)
| Gross Rent | +$3,550 |
| Mortgage | −$2,716 |
| Property Tax | −$620 |
| Insurance | −$225 |
| Maintenance (1% of value/yr) | −$492 |
| Vacancy (5%) | −$178 |
| Cash Flow | -$681/mo |
Annual NOI & Cap Rate (All-Cash)
| Gross Rent | +$42,600 |
| Vacancy (5%) | −$2,130 |
| Property Tax | −$7,434 |
| Insurance | −$2,700 |
| Maintenance (1% of value/yr) | −$5,900 |
| Annual NOI | $24,436 |
| Cap Rate | 4.14% |
Cash Required to Close
| Down Payment (20%) | $117,998 |
| Ontario Land Transfer Tax | $8,275 |
| Legal & Title Insurance | $2,500 |
| Inspection & Misc | $500 |
| Total Cash Required | $129,273 |
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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