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Investment signal

$524,900

198 MURRAY STREET

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Beds

Baths

Sqft

—

Year

—

Type

Single Family

Suite

Suite potential

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Location nearby

Nearby school, halal, mosque, grocery, park, and transit layers are still being built for Fort Erie (Central). The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.

About this home

Welcome to 198 Murray Street in Fort Erie! This versatile property offers comfort, character, and excellent income potential. The main floor features a spacious primary bedroom, second bedroom and a beautifully updated bathroom complete with a separate tub, shower, and heated floors for added luxury. Upstairs, the finished attic has been transformed into a large bedroom with a loft area, creating a unique and functional living space. Step outside and enjoy your own private backyard retreat with a large covered deck, seasonal 2-piece bathroom, wet bar, and an above-ground heated (new in 2023) pool-perfect for entertaining family and friends all summer long. The detached heated garage includes a second-floor loft, plus a convenient side carport for additional covered parking. This home also offers updated electrical service in both the house and garage. The fully finished basement features a separate entrance and includes a one-bedroom apartment or in-law suite, making it ideal for multi-generational living or for buyers looking to offset expenses with rental income. There is sound and fire barrier insulation in between the units. A fantastic opportunity for homeowners, investors, or families needing extra space. (id:65958)

Subtype: Single Family
Structure: House
Community: 332 - Central
Common interest: Freehold
Lot dimensions: 49.3 x 123.4 FT
Bedrooms: 3 above grade, 1 below grade
Parking: 6 total
Stories: 1.5
On market: Apr 2, 2026
Status changed: Apr 27, 2026
Annual tax: $2,982
Zoning: R1
Photos: 46
MLS#: X12953540
Area: FORT_ERIE_(CENTRAL)

Features and systems

Parking

Detached GarageGarage

Basement

FinishedFull

Appliances

Water meterGarage door opener remote(s)

Heating

Forced airNatural gas

Cooling

Central air conditioning

Exterior

StoneStucco

Foundation

Block

Lot

LightingGuest SuiteIn-Law Suite

Pool

Above ground pool

Negative cash flow ~$349/mo at these assumptions

Monthly rent (CAD)Adjust to your local market estimateDown payment (%)Investment props typically 20-25%Mortgage rate (% annual)Default 4.5% — adjust to your rate holdAmortization (years)

Cash on cash

-3.99%

Cap rate

4.07%

GRM

15.1

Break-even rent

$3,268

Financing

Down payment$104,980

Loan amount$419,920

Mortgage$2,128/mo

Operating expenses (monthly)

Property tax(est. 0.55%/yr (AB avg))$241

Insurance$80

Maintenance$437

CapEx reserve$219

Vacancy loss$145

Estimates only. Actual cash flow depends on financing terms, condition reports, current market rents, property tax assessment, condo fees, and tenant quality. Defaults: 4.5% rate, 30-year amortization, 5% vacancy, 1%/yr maintenance, 0.5%/yr CapEx reserve, $80/mo insurance. Property tax estimated at 0.55%/yr where not provided. Talk to a mortgage broker before relying on these numbers.

Mortgage estimate

Estimated $2,128/mo at 4.5% with 20% down, 30-yr amortization.Estimate only — actual payment varies by qualification + insurance.

Listing brokerage

Listing brokerage on file

Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Apr 27, 2026.