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228 2nd AVENUE
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Spalding · Single Family · under $75,000 · 1+ bed · 1+ bath. Alerts only send when there are new or meaningfully updated matching homes.
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Welcome to 228 2nd Avenue in the friendly village of Spalding, the perfect opportunity for anyone seeking the charm of small town living, peaceful surroundings, and welcoming neighbours. Whether you are looking to step into homeownership without stretching your budget or searching for a solid rental property to add to your investment portfolio, this cute and cozy bungalow checks all the boxes. Situated on a spacious double 100 x 135 lot along a quiet street, this well-maintained 772 sq. ft. bungalow offers both comfort and potential. The beautifully treed yard provides plenty of outdoor space for gardening, entertaining, or future development, with room to add another garage or storage building if desired. A gravel driveway leads to the 14 x 28 detached garage located at the rear of the property. Recent exterior updates include a newer metal roof, vinyl siding, soffit, fascia, and exterior doors, adding both curb appeal and peace of mind. Inside, you are welcomed by a generous porch area that flows into a bright open-concept living and dining space featuring newer laminate flooring and tasteful crown mouldings. The functional galley-style kitchen offers ample workspace, while the conveniently located main-floor laundry is tucked away at the back of the home. Completing the interior are two comfortable bedrooms and a renovated 4pc bathroom. Ideally located close to local amenities and employment opportunities in the surrounding area, this affordable and move-in-ready home is one you will not want to miss. Come see everything 228 2nd Avenue has to offer! (id:65958)
Main level
| Room | Dimensions | Features |
|---|---|---|
| Enclosed porch | 11.2 × 5.1 feet | |
| Living room | 13.8 × 12.5 feet | |
| Kitchen/Dining room | 10.1 × 9.3 feet | |
| Bedroom | 11.11 × 9.3 feet | |
| Bedroom | 9.6 × 6 feet | |
| 4pc Bathroom | 6.3 × 5.5 feet | |
| Laundry room | 8.2 × 6 feet |
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
153.61%
Cap rate
35.59%
GRM
2.4
Break-even rent
$418
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.
Pick a down payment and tap any underlined number to edit. Total updates live. Confirm with a mortgage broker before writing an offer.
Monthly carrying costs (shared)
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. Accelerated bi-weekly frequency reduces total interest paid vs. monthly — confirm with a broker. Suite rental income depends on permits, market rent, and vacancy. Always validate with a mortgage broker 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 14, 2026.
Location of this listing. Distances are straight-line.
Full neighbourhood intelligence (schools, halal, mosques, transit) is still building for this address.