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Investment signal

$479,900

218 PHIPPS STREET

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Baths

Sqft

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Year

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Type

Multi-family

Suite

Investment signal

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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

Owner occupied home/ duplex. Classic charm meets modern versatility in this character-filled brick duplex, ideally located in Fort Erie's central Bridgeburg neighbourhood. Set on a deep 239-foot lot, this spacious two-storey home offers over 2,200 sq. ft. of above-grade living space across two units (upper and main floor levels) perfect for multi-generational living, investors, or those seeking additional income. The main floor features a bright eat-in kitchen with built-in dishwasher, a generous dining area, and a warm, inviting living room with hardwood flooring throughout. Two comfortable bedrooms complete the main level as well as a 4-piece bathroom. The upper unit offers its own sunny eat-in kitchen with a double sink, open-concept living/dining area, and two bedrooms - ideal for tenants, extended family, or other income potential. The partially finished basement provides added flexibility with two more bedrooms, a laundry room, and a large workshop space for hobbies or storage. The home's layout flows naturally from room to room, creating a warm and welcoming feel throughout. Outside, the expansive backyard offers privacy, mature trees, and landscaping potential - a peaceful retreat with plenty of room to entertain or garden. A private driveway, detached garage, and ample parking complete this desirable package. Located just steps from the Niagara River, local shops, restaurants, schools, and parks, this property combines walkable convenience with timeless appeal. A true gem in a growing community. (id:65958)

Subtype: Multi-family
Structure: Duplex
Community: 332 - Central
Lot dimensions: 50 x 239.3 FT
Bedrooms: 4 above grade, 2 below grade
Parking: 4 total
Stories: 2
On market: Mar 27, 2026
Status changed: Apr 22, 2026
Annual tax: $2,982 (2025)
Zoning: R2
Photos: 39
MLS#: X12928368
Area: FORT_ERIE_(CENTRAL)

Features and systems

Parking

Detached GarageGarage

Basement

Partially finishedN/A

Appliances

Window Air Conditioner

Heating

Radiant heatNatural gas

Cooling

Window air conditioner

Exterior

Brick

Flooring

HardwoodLaminate

Foundation

Poured Concrete

Lot

Open spaceFlat siteIn-Law Suite

Positive cash flow ~$290/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

3.62%

Cap rate

5.59%

GRM

12.1

Break-even rent

$2,995

Financing

Down payment$95,980

Loan amount$383,920

Mortgage$1,945/mo

Operating expenses (monthly)

Property tax(est. 0.55%/yr (AB avg))$220

Insurance$80

Maintenance$400

CapEx reserve$200

Vacancy loss$165

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 $1,945/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 22, 2026.