38 SPADINA AVENUE · Duplex

38 SPADINA AVENUE is a 2-unit duplex in Hamilton, ON, asking $429,900 — $214,950 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 2 units this finances as residential, not commercial — MLI Select starts at five units. The qualifying rate still applies: federally regulated lenders test a 1–4 unit rental at the greater of your contract rate plus two points or 5.25%.

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