237 First Avenue, Welland, ON
Property Highlights
Welcome to this remarkable 1 1/2 Storey detached located in the coveted neighborhood of 767 - N. Welland. Expertly crafted featuring premium metal/steel siding construction, this residence presents an exceptional opportunity offered at $749,850 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.
- 3 Bedrooms and 2 Bathrooms
- Generous living space spanning 1100-1500 sqft on a premium 120 x 198 ft lot
- Features a full, unfinished basement, adding superb versatility for recreation, a home gym, or extra storage
- 6.0 total parking spaces available with a convenient detached configuration
- Notable attributes: Sump Pump
- equipped with wall unit(s) central cooling and highly efficient forced air heating via gas
Description
PERFECT MINI-DEVELOPMENT POTENTIAL!!! This is a promising development opportunity for investors keen on creating an eight-townhouse site within walking distance of Niagara College. This lot is ideal for either demolishing the existing house to construct eight affordable townhouses or subdividing into three 40-foot frontage lots. With the HST rebate currently available, there is strong demand for land to secure pre-sales. Concept plans suggest the possibility of eight townhouse lots at approximately $100,000 per lot, with an additional $50,000 allocated for consulting and necessary official plan and zoning by-law amendments. Pre-consultations are recommended for any development initiatives, whether for three lots or eight townhouses. A demolition estimate is also available, and tenants are amenable to staying until demolition is required. This is an excellent opportunity for development and land acquisition in a prime student area near Niagara College. Concept plans for townhouse or detached lots available.
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Pricing & Value Insights
Data-driven valuation for 237 First Avenue, Welland, ON L3C 1Y7
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About Purchasing a Home in Welland, ON
For a property listed at $749,850 in Welland, the legal minimum down payment is $49,985 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 $11,472 for this transaction. As this listing is in Welland (outside the City of Toronto), no additional municipal land transfer tax is levied, resulting in total estimated land transfer taxes of $11,472.
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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.