97 Queen St
332 - Central, Fort Erie, L2A 1T9
FOR SALE
$625,000
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4
BEDROOMS4
BATHROOMS4
KITCHENS9
ROOMSX10203408
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Property Description
Discover the perfect investment opportunity in the heart of Fort Erie. This spacious large brick and concrete block 4-plex offers the ideal combination of versatility and potential income. With an attached carport and a detached 2-car garage, there are options to maximize your rental income. This property features four distinct units, catering to a variety of tenant needs. There's one cozy bachelor apartment, two spacious one-bedroom units, and a generous two-bedroom apartment. The third-floor one-bedroom apartment is a unique gem, offering exclusive access to a rooftop space with breathtaking views of the Buffalo skyline. Apartment #2 (Bachelor) $850, Apartment #1 (one bedroom - currently rented) $820, Apartment #3 (2 bedroom and currently rented) $769 and Apartment #4 (one bedroom - vacant) Potential rent $1250 . All rents are all utilities included. Property has hot water gas heating & furnace is located in Unit 1. One unit currently vacant, providing an excellent opportunity for the new owner to take possession for personal use or set competitive rental rates for incoming tenants. With a little vision and the potential to rent out individual garage bays, this investment promises both immediate returns and long-term value. Don't miss out on this chance to own a piece of Fort Erie real estate with incredible potential. Recent improvements include a new exterior staircase to 3rd floor, updated bathroom in apartment 4 and exterior has been painted.
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Listing History
| List Date | End Date | Days Listed | List Price | Sold Price | Status |
|---|---|---|---|---|---|
| 2024-06-04 | 2024-10-31 | 149 | $550,000 | - | Terminated |
| 2024-06-04 | 2024-08-19 | 77 | $550,000 | - | Suspended |
| 2023-10-13 | 2024-05-30 | 230 | $539,900 | - | Expired |
Property Features
Hospital, Lake/Pond, Public Transit, School, School Bus Route
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Property Details
Street
Community
City
Property Type
Multiplex, 3-Storey
Approximate Sq.Ft.
2000-2500
Lot Size
82' x 66'
Fronting
North
Taxes
$3,097 (2024)
Basement
None
Exterior
Brick, Concrete
Heat Type
Water
Heat Source
Gas
Air Conditioning
None
Water
Municipal
Parking Spaces
3
Driveway
Private
Garage Type
Detached
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Fort Erie Market Statistics
Fort Erie Price Trend
97 Queen St is a 4-bedroom 4-bathroom home listed for sale at $625,000, which is $89,188 (16.6%) higher than the average sold price of $535,812 in the last 30 days (December 19 - January 17). During the last 30 days the average sold price for a 4 bedroom home in Fort Erie declined by $148,222 (21.7%) compared to the previous 30 day period (November 19 - December 18) and down $484,188 (47.5%) from the same time one year ago.Inventory Change
There were 10 4-bedroom homes listed in Fort Erie over the last 30 days (December 19 - January 17), which is up 42.9% compared with the previous 30 day period (November 19 - December 18) and up 150.0% compared with the same period last year.Sold Price Above/Below Asking ($)
4-bedroom homes in Fort Erie typically sold ($13,754) (2.6%) below asking price over the last 30 days (December 19 - January 17), which represents a $6,376 increase compared to the previous 30 day period (November 19 - December 18) and ($29,999) more than the same period last year.Sales to New Listings Ratio
Sold-to-New-Listings ration (SNLR) is a metric that represents the percentage of sold listings to new listings over a given period. The value below 40% is considered Buyer's market whereas above 60% is viewed as Seller's market. SNLR for 4-bedroom homes in Fort Erie over the last 30 days (December 19 - January 17) stood at 330.0%, down from 414.3% over the previous 30 days (November 19 - December 18) and up from 50.0% one year ago.Average Days on Market when Sold vs Delisted
An average time on the market for a 4-bedroom 4-bathroom home in Fort Erie stood at 50 days when successfully sold over the last 30 days (December 19 - January 17), compared to 89 days before being removed from the market upon being suspended or terminated.Listing contracted with Re/Max Niagara Realty Ltd., Brokerage
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