$699,900 - 391 East 16th Street, Hamilton
Detached for Sale in Hamilton
83 days on market- MLS Number
- X12918694
- Property Type
- Detached
- Status
- active
- Days on Site
- 83
- Bedrooms
- 4
- Bathrooms
- 2
- Square Feet
- 700 - 1,099 sqft
- Neighbourhood
- Hamilton
- Lot Size
- 6,695 sqft
- Listing Brokerage
- ROYAL LEPAGE REAL ESTATE SERVICES LTD.
Welcome to 391 East 16th Street-The Perfect Mortgage Helper on Hamilton Mountain!Nestled in a quiet cul-de-sac in a highly sought-after neighborhood, this charming 3-bedroom bungalow offers a brilliant opportunity for smart homeownership: live comfortably on the main level while the fully equipped basement suite helps pay your mortgage.Your Main Floor SanctuaryThe bright and inviting main floor is completely move-in ready and designed for comfortable living. It features three spacious bedrooms flooded with natural light, offering a highly functional layout that is perfect for relaxing, working from home, or starting a family.The Income SuiteMaximize your investment with the fully finished lower level. Complete with a private, separate entrance, a second kitchen, and a large living area, this space is perfectly laid out to attract a quality tenant. It's a turnkey setup for generating reliable rental income to offset your living expenses.Outdoor Living & LocationSet on a generous pie-shaped lot, the property offers a fantastic backyard space for gardening, entertaining, or simply unwinding. A covered concrete patio allows you to enjoy the outdoors regardless of the weather, while the detached garage provides secure parking and extra storage.Because it sits in a peaceful cul-de-sac with minimal traffic, this home provides a quiet haven while still keeping you close to everything. You are just minutes away from schools, parks, shopping, public transit, and major highways for an easy commute.Lovingly maintained with quality finishes, 391 East 16th Street is a rare find that combines a wonderful place to live with a savvy financial advantage. Don't miss your chance to own this gem!
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 Hamilton
Hamilton 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 Hamilton
- •Convenient location in Hamilton
- •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
Hamilton 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.
391 East 16th Street, Hamilton
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Rental income estimator & ROI calculator
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
Fair Market Value
At $1000/sqft, this property is priced in line with current Hamilton market conditions. The pricing suggests the seller has done their homework. We may have modest room for negotiation, typically 2-4% in today's market.
Negotiation Opportunity
At 83 days on site, this property has exceeded the typical selling timeline for Hamilton. This creates leverage for buyers. The seller may be motivated by carrying costs, life circumstances, or previous deals falling through. I'd recommend a strategic offer below asking with terms that favour you.
Detached Home Advantages
Detached homes in Hamilton are increasingly scarce and valuable. You'll have no shared walls, full control over renovations, and typically stronger appreciation. Consider the lot size and potential for future additions or basement apartment income. Detached homes also offer the most flexibility for growing families.
Efficient Living
At 700 sqft, this is a more compact space. The upside: lower utility bills, less maintenance, and easier cleaning. Consider how you'll use the space - built-in storage, multi-functional furniture, and good organization become important. Great for singles, couples, or those who prefer a low-maintenance lifestyle.
Family-Friendly Layout
4 bedrooms hits the sweet spot for most families. You'll have room for 2-3 children plus a home office or guest room. This is the most sought-after configuration for families relocating to Hamilton. Good resale value as demand remains consistent.
Investment Perspective
Looking at this as an investment: Hamilton 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.