518 Cannon St E is a 5-bedroom, 3-bathroom triplex in Hamilton, listed for $549,000. It has 2000-2500 sq ft of living space.
1Welcome to this exceptional opportunity to own a fully tenanted 2.5-storey triplex ideally located on a prominent corner lot in Hamilton's vibrant east end.
2The home features three self-contained units across a spacious and character-filled layout, along with the added convenience of a side parking pad.
Welcome to this exceptional opportunity to own a fully tenanted 2.5-storey triplex ideally located on a prominent corner lot in Hamilton's vibrant east end. Perfectly suited for buyers looking to break into the market with the advantage of built-in rental income, this property offers the ideal blend of homeownership and long-term financial flexibility. Whether you are looking to offset your mortgage through house hacking, build equity faster, or expand your real estate portfolio with a cash-flowing asset, this is the type of property that delivers versatility and upside. The home features three self-contained units across a spacious and character-filled layout, along with the added convenience of a side parking pad. Currently generating approximately $51,576 in annual gross income with a projected NOI of roughly $41,688 annually, the property also presents a strong conservative income profile even when accounting for management and maintenance reserves. Situated on Cannon Street East, the location provides excellent access to public transit, major routes, schools, parks, and Tim Hortons Field, while remaining close to everyday amenities and growing neighbourhood conveniences. A rare opportunity to secure an income-generating property with strong fundamentals, mortgage-support potential, and long-term value growth in one of Hamilton's evolving communities.
5 bedrooms, 3 bathrooms, about 2,000 sq ft, works out to roughly $275 per square foot. Chat with Zara if you'd like a deeper read on whether this triplex fits your budget and timing.
Inside 518 Cannon St E
Every detail from the listing, in one place.
Type
Triplex
Style
2 1/2 Storey
Living space
2000-2500 sq ftas stated on the listing
Parking
3 spaces
Basement
Full
Features & systems
Parking & garage
Parking spaces
3
Interior
Basement
Full
Lot & land
Lot size (sqft)
0
Listing & possession
Property style
2 1/2 Storey
Property class
Triplex
518 Cannon St E Price & Sale History
Earlier listings of this property, list-price changes, and the most recent annual property tax on the listing.
Independent mortgage broker · OAC · rates subject to change and underwritingMortgage Squad →
Referral disclosure: Summitly may refer you to Mortgage Squad Advisors, an affiliated mortgage partner. You are free to choose any lender or mortgage professional.
Monthly cost
Enter a rate to see the monthly cost
An estimate, not a quote. Utilities and insurance are extra.
Affordability calculator
Estimated monthly payment
$2,697
/mo
based on the purchase price of $549,000
$109,800 cash
$439,200 financed
$369,922 total interest
Principal54%$439,200
Interest46%$369,922
20% down · 25-yr amortization · 5.50% rate. Principal & interest only — taxes, condo fees, and insurance not included.
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Figures are Summitly estimates for illustration only — not from TRREB or the MLS® feed, and not a mortgage approval, appraisal, or financial advice.
Rental income potential
Est. monthly rent
low–high
Gross yield
rent × 12 ÷ price
Cap rate (est.)
net of tax + fees
Summitly AI estimate for discussion only — not from TRREB or the MLS® feed, and not an appraisal or investment advice. Yield and cap rate are derived from the estimated rent versus the asking price.
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Mortgage financing is arranged through Mortgage Squad Advisors. Summitly is the technology platform that powers this site. Estimated values, AI insights, calculator results, and rental projections shown on this page are generated by Summitly and are not provided by, reviewed by, or sourced from TRREB, the MLS®, or the listing brokerage; they are not appraisals or opinions of value. The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by the Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The Coldwell Banker® name and logo are trademarks of Coldwell Banker Real Estate LLC.
Similar homes for sale nearby in Hamilton
Other 6–7 bed homes for sale in Hamilton around $549K.
Average days on market41Homes sold in about 41 days on average.
Sale-to-list ratio97.1%On average, homes sold below asking.
Active listings2,536Homes for sale here right now.
Median vs prior 90 days−2.5%Compared with Apr 25 – Jul 24, 2026: prices down.
Based on 1,842 sales from Jul 24 – Oct 22, 2026 (1,482 in the prior 90 days). Aggregate MLS® figures for closed sales; individual sold prices are shown only to signed-in members.
518 Cannon St E is listed at $549,000 (MLS® X13156508). Summitly updates the price as soon as the MLS® record changes.
Is $549,000 a good price for 518 Cannon St E?
Summitly rates it Excellent Deal: the asking price is 10% or more below Zara's estimate, an estimate built from recent sales in Hamilton. The rating is an automated opinion, not an appraisal; "What's it worth?" on this page shows how it is worked out. See Zara's estimate
Has the price of 518 Cannon St E changed?
Yes — it was first listed at $599,000 and is now $549,000, a drop of $50,000 (8.3%).
How many bedrooms and bathrooms does 518 Cannon St E have?
518 Cannon St E has 5 bedrooms and 3 bathrooms, with about 2,000–2,500 square feet of living space. It is a triplex in Hamilton.
Is 518 Cannon St E close to transit?
The nearest rapid-transit station is Hamilton GO Centre GO Station (Lakeshore West GO), about 2.1 km in a straight line. West Harbour GO Station is about 2.2 km. Distances are straight-line, not walking routes; check the transit agency for routes and schedules.
How much would the monthly mortgage be on 518 Cannon St E?
About $2,697 a month — principal and interest on $549,000 with 20% down ($109,800), a 25-year amortization and an assumed 5.5% interest rate. The mortgage calculator on this page lets you change the down payment, amortization and rate.
How does 518 Cannon St E compare with other homes in Hamilton?
Its asking price of $549,000 is about 19% below the median sold price in Hamilton over the last 90 days, $675,000, across 1,842 closed sales on the TRREB MLS®. A city median mixes every type and size of home, so the comparable sales on this page are the closer guide.
Has 518 Cannon St E been sold before?
Summitly has no earlier MLS® sale or lease of 518 Cannon St E on record from the last two years. Older records aren't shown under TRREB rules.
Where is 518 Cannon St E?
518 Cannon St E is in Hamilton, ON. Schools, transit, parks and shops nearby are under Location & lifestyle on this page.
How long has 518 Cannon St E been on the market?
154 days — 518 Cannon St E was listed on May 21, 2026.
What is the price per square foot of 518 Cannon St E?
About $220 to $275 per square foot: the asking price of $549,000 over the 2,000–2,500 sq ft the listing gives as its size range.
