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Investment signal

$619,000

2474 HIGHWAY 24 W

Beds

Baths

Sqft

—

Year

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Location

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About this home

Prime 2-acre investment opportunity located on high-exposure Highway 24 in Waterford, just minutes to Simcoe, ~30 minutes to Brantford, and under 1 hour to Hamilton. This level, fully fenced parcel offers excellent accessibility with a wide concrete driveway and strong future potential for an additional farm access .Featuring fertile sandy loam soil and a scenic creek at the rear, the property is well-suited for a variety of income-generating uses, including greenhouse operations, nursery/garden center, hobby farm, landscaping yard, contractor shop, or agri-related business. Ample space to construct outbuildings such as workshops, barns, or greenhouses. Full services available: natural gas, hydro, and high-speed internet-ideal for both residential and commercial-style rural operations. Zoning and location provide strong appeal for live/work setups and small business expansion. Improved with a 3-bedroom, 2-bath bungalow (approx. 1,012 sq ft main level) plus a bright basement with large windows. Significant renovations already completed (approx. 85%), including electrical updates, wall improvements, and new pump system. Property sold "as is," offering value-add potential for investors or end users. Rare opportunity to secure a versatile rural asset with excellent exposure, infrastructure, and multiple income streams. (id:65958)

Subtype: Single Family
Architectural style: Bungalow
Structure: House
Community: Townsend
Common interest: Freehold
Lot dimensions: 70 x 681 FT
Bedrooms: 3 above grade
Parking: 3 total
Stories: 1
On market: Apr 13, 2026
Status changed: Apr 13, 2026
Annual tax: $3,258 (2025)
Zoning: A
Photos: 26
MLS#: X12992906
Area: NORFOLK_(TOWNSEND)

Features and systems

Parking

No Garage

Basement

Full

Heating

Forced airNatural gas

Cooling

Central air conditioning

Exterior

Vinyl siding

Foundation

Unknown

Lot

Sump Pump

Negative cash flow ~$1,230/mo at these assumptions

Monthly rent (CAD)Adjust to your local market estimateDown payment (%)Investment props typically 20-25%Mortgage rate (% annual)2026 default 5.49% — adjust to your rate holdAmortization (years)

Cash on cash

-11.93%

Cap rate

3.50%

GRM

16.6

Break-even rent

$4,395

Financing

Down payment$123,800

Loan amount$495,200

Mortgage$3,038/mo

Operating expenses (monthly)

Property tax(est. 0.55%/yr (AB avg))$284

Insurance$80

Maintenance$516

CapEx reserve$258

Vacancy loss$155

Estimates only. Actual cash flow depends on financing terms, condition reports, current market rents, property tax assessment, condo fees, and tenant quality. Defaults: 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.

Lifestyle nearby

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

Mortgage estimate

Estimated $3,038/mo at 5.49% with 20% down, 25-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 13, 2026.