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Foreclosure signalInvestment signal

$899,900

388 DOWNIE STREET

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Beds

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Baths

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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 Stratford. The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.

About this home

A rare chance to own a storied piece of Stratford history. The former Avon Hotel, dating to the mid-1800s, offers approx. approx 10,000 sq ft on a prime corner lot with two frontages on busy Downie Street. Located within walking distance to Downtown, the VIA Rail station, new bus terminal, University of Waterloo and Conestoga College campus, Avon Theatre, skate park and the future Community Hub. This 3-storey 19th-century building has undergone some rehabilitation and is looking for its next owner's vision. Potential for two commercial lease spaces on the main floor, and the vacant upper floors are ready for residential redevelopment. Zoned Highway Commercial C2-18. Offered as-is, where-is. (id:65958)

Subtype: Multi-family
Structure: Multi-Family
Community: Stratford
Living area: 10,500 square feet
Lot size: 0.27 acres
Lot dimensions: 0.274
On market: Jan 9, 2026
Status changed: Apr 21, 2026
Annual tax: $5,926 (2025)
Zoning: C2-18
Photos: 10
MLS#: X12680506
Area: STRATFORD

Features and systems

Heating

Forced airNatural gas

Cooling

None

Lot

Irregular lot size

Negative cash flow ~$990/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

-6.60%

Cap rate

3.54%

GRM

16.7

Break-even rent

$5,542

Financing

Down payment$179,980

Loan amount$719,920

Mortgage$3,648/mo

Operating expenses (monthly)

Property tax(est. 0.55%/yr (AB avg))$412

Insurance$80

Maintenance$750

CapEx reserve$375

Vacancy loss$225

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 $3,648/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 21, 2026.