1367 CANNON Street E · 5-unit multifamily

1367 CANNON Street E is a 5-unit 5-unit multifamily in Hamilton, ON, asking $649,999 — $130,000 per door.

That sits below the Hamilton band of $230k - $390k per door. A price under the band usually means condition, location, or an in-place rent roll well below market — confirm which before treating it as a discount. Hamilton cap rates screen 4.7% - 6.1% against average rent near $2,050 a door.

At 5 units this is a commercial file: five or more units can be underwritten for CMHC MLI Select, where energy, affordability, and accessibility points decide the tier and the leverage. Below that tier the insured stack you modeled may not exist.

Hamilton can still offer workable small-multifamily economics, especially where transit and rent lift align. Investor demand reads high, vacancy tight.