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707 Railway AVENUE
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Neudorf · Single Family · under $175,000 · 3+ bed · 2+ bath. Alerts only send when there are new or meaningfully updated matching homes.
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This 1½ storey multifamily property offers over 1,400 sq ft of living space divided into 3 separate suites, making it a great option for revenue, multi-generational living, or owner-occupied rental potential. Originally built in 1915, the home carries a bit of local history and character, with updates completed over time to add comfort and convenience, including the most extensive renovations completed in 2018. The layout includes a 2-bedroom main floor suite, a main floor studio suite, and an upper-level 2-bedroom suite. Each suite includes its own fridge and stove, and both 2-bedroom suites also offer laundry hookups with a washer and dryer included for added convenience. Important updates over the years include windows, exterior improvements, and electrical upgrades. Each level has its own 200-amp service panel, offering added flexibility and functionality. The upper-level suite is heated with electric heat, while the main floor is serviced by a natural gas forced-air furnace. The upper suite features its own private balcony entrance, while the main level offers easy access to the yard and outdoor spaces. The basement provides excellent storage space for seasonal items, supplies, and extras. Situated on a 104 x 130 lot, the outdoor space includes a deck, fire pit area, 3 storage sheds, a partially fenced yard, and gravel parking with room for multiple vehicles. This is a practical property with income potential and a bit of history woven into its story. Whether you are looking to expand your rental portfolio, accommodate family in separate living spaces, or live in one suite while renting the others, the layout and updates provide plenty of options yet leave room for you to add your own touch. (id:65958)
Basement
| Room | Dimensions | Features |
|---|---|---|
| Other | 23.7 × 19.2 feet |
Main level
| Room | Dimensions | Features |
|---|---|---|
| Living room | 13.2 × 17.7 feet | |
| Kitchen/Dining room | 13.9 × 15.1 feet | |
| Living room | 10.9 × 29.3 feet | |
| 4pc Bathroom | 6.1 × 5 feet | |
| Bedroom | 9.1 × 9.8 feet | |
| Bedroom | 13.7 × 11.11 feet | |
| Sunroom | 9.5 × 26.8 feet | |
| Kitchen | 6.2 × 13.1 feet | |
| 3pc Bathroom | 4.11 × 4.7 feet | |
| Dining room | 7.4 × 8.5 feet |
Second level
| Room | Dimensions | Features |
|---|---|---|
| Laundry room | 11.4 × 3.8 feet | |
| Kitchen | 7.6 × 10.7 feet | |
| Dining room | 7.11 × 14.6 feet | |
| Bedroom | 12.6 × 11.5 feet | |
| Bedroom | 12.7 × 11.9 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
73.15%
Cap rate
19.49%
GRM
4.3
Break-even rent
$988
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 Apr 22, 2026.
Location of this listing. Distances are straight-line.
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