$699,000 - 5904 Prospect Street, Niagara Falls
Detached for Sale in Niagara Falls
78 days on market- MLS Number
- X12949076
- Property Type
- Detached
- Status
- active
- Days on Site
- 78
- Bedrooms
- 3
- Bathrooms
- 2
- Square Feet
- 1,100 - 1,499 sqft
- Neighbourhood
- Niagara Falls
- Lot Size
- 955 sqft
- Listing Brokerage
- EXP REALTY
Rare double-lot opportunity in a central Niagara Falls location, offering a unique combination of a well-maintained, turn-key home and future redevelopment potential. Situated on an approximate 80 ft x 147 ft lot and zoned R2 / R5A (buyer to verify permitted uses), this property presents excellent flexibility for investors, renovators, or end-users.The existing 3-bedroom, 2-bathroom century home has been thoughtfully updated and is ideal for immediate occupancy or rental use. Features include an updated kitchen with quartz countertops and island, stainless steel gas range, French door fridge, bright principal rooms, and a sunroom overlooking the private backyard. Character details such as the original banister and stained-glass window add charm, while large windows provide abundant natural light.The backyard is a standout feature, offering a fully fenced private setting with a solar-heated above-ground pool, 6-person hot tub, perennial gardens, and stone patio-creating a true outdoor retreat.Additional highlights include a double-car garage, long driveway, basement with in-law suite potential, and a hard-wired security system.Located close to transit, amenities, and entertainment, this property offers multiple use options-live in, rent out, or plan for the future. Ideal for End-Users and Investors Seeking a Future Hold. Ready to move-in
Estimate your monthly payments for this property
Estimated Payment
$3,586.23/mo
Includes CMHC insurance ($19,502)
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 Niagara Falls
Niagara Falls 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 Niagara Falls
- •Convenient location in Niagara Falls
- •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
Niagara Falls 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.
5904 Prospect Street, Niagara Falls
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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 $635/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.
Negotiation Opportunity
At 78 days on site, this property has exceeded the typical selling timeline for Niagara Falls. 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 Niagara Falls 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.
Starter Home Potential
3 bedrooms works well for couples planning families or small families with one child. Consider whether you might outgrow the space in 5-7 years. If so, factor in potential moving costs when making your decision. Alternatively, some buyers convert a bedroom to an office and make it work long-term.
Investment Perspective
Looking at this as an investment: Niagara Falls properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $2,913 (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.