$699,900 - 361 Prospect Avenue, Kitchener
Multi-Family for Sale in Kitchener
New — Listed 3 days ago- MLS Number
- X13446234
- Property Type
- Multi-Family
- Status
- active
- Days on Site
- 3
- Bedrooms
- 5
- Bathrooms
- 2
- Square Feet
- 1,100 - 1,499 sqft
- Neighbourhood
- Kitchener
- Listing Brokerage
- EXP REALTY
Turnkey legal duplex in a desirable Kitchener location. The property was converted to a legal duplex in 2020, creating two self-contained units ideal for investors or multi-generational living. Each unit is equipped with its own 100 amp hydro panel and in-suite laundry for added convenience. Enjoy a spacious 6-car asphalt driveway installed in 2020, offering ample parking for both units. Additional updates include a new furnace in 2025 and a new garage roof in 2026, adding long-term value and peace of mind. The basement is fully finished with the exception of the utility room. Located just 2 minutes from Sunnyside Public School, making school pick-up and drop-off quick and easy. Well-maintained and income-generating, this is a solid opportunity in a great location for those looking to invest or offset living costs with rental income.
Estimate your monthly payments for this property
Estimated Payment
$3,590.85/mo
Includes CMHC insurance ($19,527)
5-yr fixed avg.
Rates shown are estimates based on typical Ontario 5-year fixed rates. Canadian mortgages use semi-annual compounding as required by law. CMHC insurance applies to purchases under $1.5M with less than 20% down. Estimated property tax uses an approximate 0.85% rate. Contact us for current rate options and pre-approval.
Discover Kitchener
Kitchener is a vibrant community in the Greater Toronto Area, offering excellent amenities, schools, and transportation options. This area is popular with families and professionals seeking a balanced lifestyle with access to urban conveniences and natural spaces.
Why Live in Kitchener
- •Convenient location in Kitchener
- •Access to local shops and dining
- •Good public transit connections
- •Community parks and green spaces
- •Well-maintained neighbourhoods
Nearby Schools
Transit & Commuting
- •MiWay bus routes throughout the area
- •GO Transit stations within driving distance
- •Easy highway access to 401/403/QEW
- •Walking distance to local amenities
Parks & Amenities
- •Local parks and recreational facilities
- •Community centres
- •Shopping plazas nearby
- •Restaurants and cafes
Lifestyle & Community
Kitchener offers a wonderful quality of life with a mix of residential charm and urban convenience. Residents enjoy easy access to schools, parks, and shopping, making it an ideal location for families and professionals alike.
361 Prospect Avenue, Kitchener
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Monthly Cash Flow Breakdown
Note: These are estimates only. Actual figures may vary based on market conditions, property condition, and other factors. Consult with a financial advisor for personalized advice.
Joe's Thoughts
Honest perspective from 30+ years of GTA real estate experience
Competitive Pricing
At $636/sqft, this is priced below the area average. This could represent genuine value, but let's investigate why. In my experience, underpriced homes often have deferred maintenance, unfavourable layouts, or motivated sellers. I'll help you determine which it is.
Just Listed - Act Strategically
This property hit the market within the last week. In Kitchener's current market, desirable homes often receive multiple offers within 5-7 days. If you're seriously interested, I recommend booking a showing immediately. However, never let urgency override due diligence - we'll still do proper inspections.
Excellent Flexibility
With 5 bedrooms, you have genuine flexibility. Beyond the master and kids' rooms, you can have a dedicated home office, guest room, hobby space, or even rental income potential. In today's work-from-home era, extra bedrooms add significant value. Properties with 5+ bedrooms are relatively rare in Kitchener.
Investment Perspective
Looking at this as an investment: Kitchener properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $2,916 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.
Let's See It Together
Photos only tell part of the story. During our showing, I'll point out things the camera doesn't capture: neighbourhood feel, natural light quality, traffic noise, and overall condition. I'll also share what comparable homes have sold for and help you craft a winning strategy if you decide to move forward.