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222 Grafton Street
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Beds
—
Baths
—
Sqft
—
Year
1912
Type
Multi-family
On market
29d
Positioned in the heart of downtown Charlottetown, 222 Grafton Street is a rare Victorian-era over-under duplex carrying coveted DMU zoning, offering a level of flexibility seldom found within the city core. Whether envisioned as an owner-occupied income property, live-work opportunity, boutique commercial concept, professional office space, or long-term investment, the possibilities here extend far beyond traditional downtown residential use. Behind the blue cedar-shingled exterior are two distinct residences, each with private entrances, outdoor spaces, and a character all their own. The main-level residence offers over 1,000 square feet with preserved architectural warmth throughout. Original hardwood floors, solid-wood doors, tall 9-foot ceilings, French doors, a claw-foot tub, an ornamental fireplace, and natural birch cabinetry create an atmosphere that feels authentic and timeless. Large sliding doors open directly to a private rear deck and fenced backyard oasis tucked quietly behind the home, creating an unexpectedly calm outdoor setting within the downtown core. The upper residence unfolds across both the second and third floors, offering over 1,000 square feet of loft-inspired living. Exposed brick, skylights, elevated decks, expansive open spaces, and a remarkable third-floor retreat beneath vaulted rooflines create one of the more distinctive residential experiences found in Charlottetown. The top level functions beautifully as a primary suite, studio, creative workspace, or elevated entertaining area filled with natural light. The exterior environment further separates the property from typical downtown offerings with layered decking, mature trees, fencing, garden space, and multiple outdoor living areas, creating a hidden urban courtyard atmosphere rarely found within the city. Located steps from Holland College, Confederation Centre of the Arts, restaurants, cafés, theatres, parks, federal buildings, and the downtown waterfront district. (id:65958)
10-item due-diligence checklist. We can pre-flight most of these for you on a CMA call.
Comparable sales
Ask for 3–5 recent solds within ~1 km and the same beds/baths so the list price has context.
Property condition
Roof age, furnace age, hot-water tank age, electrical panel size, windows. Cosmetic vs structural.
Zoning
Confirm zoning matches your intent (single-family vs duplex vs secondary suite vs commercial).
Suite legality / potential
If suited or being marketed as suited: confirm permits, separate entrance, ceiling height, egress windows.
Monthly carrying cost
Mortgage + property tax + insurance + condo fee (if any) + utilities. Compare to your max budget.
Property taxes
Confirm the annual tax amount on the current assessment — and whether a reassessment is pending.
Insurance estimate
Get a same-day quote. Older homes, knob-and-tube wiring, polybutylene plumbing, flood plains all change the number.
Commute
Drive it (or transit it) at the actual time of day you'd commute. Map ETA lies during peak hours.
Deposit and financing conditions
Deposit size, financing condition window, condition removal date, possession date — all negotiable.
Inspection considerations
Budget for a home inspector ($500–700) and any specialty inspections (sewer scope, mould, asbestos for pre-1990 builds).
Cash on cash
-0.92%
Cap rate
4.68%
GRM
13.9
Break-even rent
$4,724
Financing
Operating expenses (monthly)
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Approximation 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.
Rough ballpark only. Pick a down-payment option, then tap any underlined number below to plug in your real numbers — tax, condo fee, insurance, utilities. Total updates live. Confirm with a mortgage broker before writing an offer.
Cost lines (tax, condo, insurance, utilities) are editable inline above. These two control the mortgage payment math.
Approximation only. CMHC default insurance is included when down payment is under 20%. Property tax and condo fees come from MLS when listed and may not reflect the current billing year. Suite rental income depends on permits, market rent, and vacancy — confirm with a property manager. Always validate your scenario with a mortgage broker and your insurance provider before writing an offer.
We'll reply by text within a few hours. Comparable sales, condition flags, things worth checking — sent before you book a showing.
Listing brokerage
Listing brokerage on file
Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated May 12, 2026.
Buyer-fit signals
Derived from listing data and nearby-amenity proximity. Verify anything that matters to your decision — distances are approximate.
Nearby school, halal, mosque, grocery, park, and transit layers are still being built for Charlottetown. The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.