45 WELLINGTON Street N · 5-unit multifamily

45 WELLINGTON Street N is a 5-unit multifamily in Hamilton, ON, asking $2,500,000 — $500,000 per door.

That sits above the Hamilton band of $230k - $390k per door. A price above the band has to be earned by rents, condition, or upside that the listing has not yet shown. 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.