55 East Street, St. Thomas, ON
Property Highlights
Welcome to this remarkable 2 1/2 Storey duplex located in the coveted neighborhood of St. Thomas. Expertly crafted featuring premium brick and vinyl siding construction, this residence presents an exceptional opportunity offered at $599,900 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 2000-2500 sqft on a premium 30 x 107 ft lot
- Features a walk-up, unfinished basement, adding superb versatility for recreation, a home gym, or extra storage
- 3.0 total parking spaces available with a convenient detached configuration
- Notable attributes: Separate Hydro Meter, Water Softener, Water Heater Owned
- Efficient forced air heating via gas
Description
Vacant Possession Duplex in St. Thomas - Set Your Rents from Day OneA rare opportunity to take control of your investment from the start. This 2.5-storey duplex will be delivered vacant on closing, allowing you to secure market rents immediately.Located in an established area of St. Thomas close to amenities and transit, supporting consistent tenant demand.The home features two self-contained units with private entrances. The main floor offers a bright living space with large windows, laminate flooring, decorative fireplace, two bedrooms, a 3-piece bath, and an updated eat-in kitchen with newer cabinetry and stainless steel appliances. A rear mudroom adds functional entry and storage. Main floor tenant is moving out June 1st.The upper unit includes two bedrooms, a full 4-piece bath, kitchen, and access to a private deck. The finished third floor expands the upper unit with an additional bedroom and large living area. Upper unit is already vacant for you. Shared laundry is located in the lower level with potential for coin operation. Rear parking for two vehicles in the garage and one more in the driveway. Key updates include separate hydro meters plus a common meter, updated electrical (ESA Feb 2025), steel roof (2022) with transferable warranty, owned water heaters and water softener, and natural gas furnace. Two fridges and two stoves with transferable warranty. Two self-contained units with finished third-floor space expanding the upper unit offer strong rental potential. Financial summary available in supplements.
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Separate Hydro Meter, Water Softener, Water Heater Owned
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Pricing & Value Insights
Data-driven valuation for 55 East Street, St. Thomas, ON N5P 2R3
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About Purchasing a Home in St. Thomas, ON
For a property listed at $599,900 in St. Thomas, the legal minimum down payment is $34,990 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 $8,473 for this transaction. As this listing is in St. Thomas (outside the City of Toronto), no additional municipal land transfer tax is levied, resulting in total estimated land transfer taxes of $8,473.
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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.