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Property Type: Detached HouseOwnership: Freehold
248 CYRUS Street
Cambridge, ON N3H1H3
MLS® 40852664
$749,900
5 bed2 bath5 parking1,000 sqftBuilt 1970
Property Details
Property & Lot
- Sub-type
- House
- Style
- Bungalow
- Stories
- 1
- Frontage
- 50 feet
R4
Ownership & Fees
- Property type
- Detached House
- Ownership
- Freehold
- Annual property tax
- $4,173.61
Interior
- Basement
- Finished, Full
- Heating
- Forced air, Natural gas
- Cooling / A/C
- Central air conditioning
Room Dimensions
| Room | Level | Dimensions |
|---|---|---|
| Cold room | Lower level | 9'6'' x 3'8'' |
| 3pc Bathroom | Lower level | 5'10'' x 9'10'' |
| Utility room | Lower level | 4'9'' x 8'9'' |
| Kitchen | Lower level | 8'2'' x 15'3'' |
| Bedroom | Lower level | 13'4'' x 13'0'' |
| Bedroom | Lower level | 11'4'' x 19'7'' |
| Dining room | Main level | 8'9'' x 7'8'' |
| 4pc Bathroom | Main level | 4'8'' x 7'8'' |
| Bedroom | Main level | 10'4'' x 8'6'' |
| Bedroom | Main level | 10'4'' x 11'0'' |
| Primary Bedroom | Main level | 10'8'' x 11'0'' |
| Kitchen | Main level | 11'0'' x 11'10'' |
| Living room | Main level | 11'9'' x 16'3'' |
Description
LIVE FOR FREE IN CAMBRIDGE! An exceptional opportunity for homeowners and investors alike. This beautifully renovated legal duplex, which offers the rare chance to significantly offset your mortgage-or potentially live for little to no cost-thanks to the strong rental income already in place. Situated on a generous 50-foot-wide lot in a desirable Cambridge neighbourhood, this property has been extensively updated from top to bottom. With major improvements already completed, including updated mechanicals, there is truly nothing left to do but move in and enjoy. The upper unit is currently leased to a wonderful family for $2,500 per month, providing immediate income from day one. The vacant lower-level legal apartment offers incredible flexibility: occupy it yourself while collecting rent from upstairs, or rent both units and maximize your return. Outside, you'll appreciate the newly widened driveway with parking for 5 to 6 vehicles, making it ideal for multi-generational living, tenants, guests, or hobbyists requiring extra parking. Whether you're a first-time buyer looking for mortgage assistance, a savvy investor seeking a turn-key income property, or someone wanting flexible living arrangements, this home checks all the boxes. Please note: Photos of the upper-level unit were taken prior to the current tenancy. The space is presently occupied by an excellent family who always pay their rent on time . Properties offering this level of renovation, flexibility, and income potential rarely become available. Don't miss your opportunity to own a turn-key property that works for you from the moment you take possession. (id:63159)
Listing Information
- MLS®
- 40852664
- Data last synced
- October 14, 2026
Keller Williams Home Group Realty, Brokerage
Data source: CREA DDF.
CREA DDF® ListingListing Brokerage: Keller Williams Home Group Realty, Brokerage
MLS® Number: 40852664
Listing data is sourced from CREA DDF®, the Canadian Real Estate Association (CREA) Data Distribution Facility. Listing information is deemed reliable but is not guaranteed accurate by CREA or the listing brokerage. Data provided courtesy of Cornerstone Association of REALTORS®.
Values & Trends
This listing
$750/sqft
Building average
—
No other active listings in this building
52 - Preston North average
$356/sqft
17 active listing(s)
Parking: 5 stall(s) includedStorage locker: Not indicated
Per-stall/locker dollar values aren't itemized in our data source — shown as included/not indicated only, not a fabricated estimate. $/sqft averages are computed live from other active listings, not a third-party model.
Location Insights
Weather
Nearest station: Guelph
5°C
—
Humidity 95%
Wind NNE calm km/h
Tonight
6°
Thursday
19°
Thursday night
6°
Friday
12°
Friday night
-2°
Saturday
14°
Source: Environment and Climate Change Canada.
Population
139,163
(2021 Census)
+6.6% since 2016
Density:
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Mortgage & Ownership Cost Calculator
Minimum required: 6.7% ($49,990) — 5% under $500K, 10% up to $1.5M, 20% at/above $1.5M.
Financial Ledger
Net mortgage (loan + CMHC insurance)$599,920.00
Periodic payment — Principal & Interest (monthly)$3,870.48
Additional monthly expenses (condo fees, tax, utilities, etc.)$397.80
Total monthly cost$4,268.28
Interest paid over 5-yr term$171,938.80
Balance at end of term$539,629.98
Rates based on Bank of Canada benchmark data.
Financial Summary
Minimum down payment$49,990
Stress test qualifying rate8.19%
Payment you must qualify for$5,426.92
Cash Needed at Closing
Minimum down payment$49,990
Estimated Land Transfer Tax (LTT)$11,473
Legal / closing costs (typical estimate)$1,500
Total cash needed$62,963
Minimum down payment: 5% on the first $500,000, 10% on the portion up to $1.5M, 20% at/above $1.5M. Stress test: OSFI's minimum qualifying rate, the greater of contract rate + 2% or 5.25% — this is what lenders require you to qualify at, not what you'll actually pay. Closing costs are a typical-range estimate, not a quote — actual legal fees vary. Land Transfer Tax is the Ontario provincial schedule, before any first-time buyer refund; only the City of Toronto charges a municipal land transfer tax on top, so none applies in the areas this site covers (Ontario Ministry of Finance, ontario.ca/document/land-transfer-tax, as of October 28, 2026). Verify all figures with a mortgage broker and lawyer before relying on them.
