248 Cyrus Street, Cambridge, ON
Property Highlights
Welcome to this remarkable Bungalow-Raised duplex located in the coveted neighborhood of Cambridge. Expertly crafted featuring premium brick construction, this residence presents an exceptional opportunity offered at $699,000 to acquire a beautiful home in a highly sought-after setting. Designed for both comfortable daily living and elegant entertaining, the layout maximizes natural light, functional flow, and lifestyle utility.
- 5 Bedrooms and 2 Bathrooms with 2 functional kitchens
- Generous living space spanning 700-1100 sqft on a premium 50 x 101.16 ft lot
- Features a apartment, finished with walk-out, separate entrance basement, adding superb versatility for recreation, a home gym, or extra storage
- 5.0 total parking spaces available
- Notable attributes: Accessory Apartment
- equipped with central air central cooling and highly efficient forced air heating via gas
Description
LIVE FOR FREE IN CAMBRIDGE! An exceptional opportunity for homeowners and investors alike. This beautifully renovated bungalow with a legal accessory apartment 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.
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Property Summary
This duplex located at 248 Cyrus Street, Cambridge is currently for sale and has been available on SousaSells for 6 days. This property is listed at $699,000 with an estimated mortgage of $2,327* per month. It has 5 beds, 2 bathrooms, and is 700-1100 square feet. 248 Cyrus Street, Cambridge
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* Estimated mortgage assumes a 30% down payment, 4.00% interest rate, and 30-year amortization.Yes! Featuring 5 bedrooms and 2 bathrooms, this home offers ample space and comfort for growing families in Cambridge.
- •5 spacious bedroom layout offering versatile living space
- •2 well-appointed bathrooms
- •700-1100 sqft of generous functional square footage
Growing families needing multi-bedroom flexibility and space in Cambridge.
Key Features
Additional Details
Property Details
Parking & Garage
Heating & Cooling
Features
Property Features
None listed
Interior Features
- Accessory Apartment
Security Features
None listed
Community Features
None listed
Frequently Asked Questions about 248 Cyrus Street, Cambridge, ON
Q.What is the asking price for 248 Cyrus Street, Cambridge, ON ?
The current listing price for 248 Cyrus Street, Cambridge, ON in Cambridge is $699,000.
Q.How many bedrooms and bathrooms does this property have?
This property features 5 bedrooms and 2 bathrooms across approximately 700-1100 sqft.
Q.What property type and architectural style is 248 Cyrus Street, Cambridge, ON ?
248 Cyrus Street, Cambridge, ON is a Duplex (Bungalow-Raised) featuring a Apartment, Finished with Walk-Out, Separate Entrance basement.
Q.What interior features are included in this home?
Interior highlights include: Accessory Apartment.
Q.Is parking available at this property?
Yes, this property offers parking space for 5.0 vehicles (None).
Q.What heating and cooling systems are installed?
Heating is provided via Gas and cooling via Central Air.
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About Purchasing a Home in Cambridge, ON
For a property listed at $699,000 in Cambridge, the legal minimum down payment is $44,900 under current Canadian banking regulations. This calculation applies a 5% requirement on the first $500,000, 10% on the next $499,999, and a flat 20% on any amount exceeding $1,000,000.
Additionally, buyers in Ontario must budget for the Provincial Land Transfer Tax, which is estimated at $10,455 for this transaction. As this listing is in Cambridge (outside the City of Toronto), no additional municipal land transfer tax is levied, resulting in total estimated land transfer taxes of $10,455.
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Disclaimer: AI Insights are generated by an automated system and should be used for informational purposes only. While we strive for accuracy using current market data and deep-learning models, these assessments do not constitute professional real estate, legal, or financial advice. All property values, predictions, and scores are estimates. We strongly recommend verifying all property details and conducting independent due diligence with a licensed professional before making any purchase decisions.