5197 SECOND Ave
211 - Cherrywood, Niagara Falls, L2E 4J8
FOR SALE
$875,000
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Property Description
Fall in love with this FULLY RENOVATED, 4-bed, 4-bath home and its endless potential, located within walking distance to Niagara Falls. Offering 2,350 sf of above ground living space, 3 SEPARATE ENTRANCES, this home is ideal for anyone looking to generate additional rental income. Also perfect for a growing family, generational living or an investment opportunity. Aside from the lovely sunroom, cozy living room with plenty of natural light, dining area, and updated kitchen with GRANITE COUNTERTOPS, this home offers a large main floor self-contained IN-LAW SUITE at the rear, complete with a bedroom, living room, kitchen, 3-pc bath and patio door to its own private porch. This is an ideal space for income potential, or an owner occupied bnb. A great opportunity to have some of your mortgage paid while still utilizing the entire original home! On the second storey of the home are 3 generously sized bedrooms, a 4-pc bath and 2 linen closets. Don't miss the door that leads up to the 2nd half storey! This area could be used as a great kid's room, flex space, office or storage. The basement has its own separate entrance. WINDOWS (2023), NEW ELECTRIC & PLUMBING (2023), A/C (2023) & the driveway has been updated with NEW ASHPHALT (since the photos were taken - 2024). With its close proximity to Niagara Falls, Clifton Hill, Casinos, Golf Courses, and The Niagara Wine Country, this home holds tremendous value for income potential given all the tourism close by. The possibilities are endless. A must-see home to appreciate all of its character and opportunity.
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Listing History
| List Date | End Date | Days Listed | List Price | Sold Price | Status |
|---|---|---|---|---|---|
| 2024-04-23 | 2024-09-01 | 132 | $899,500 | - | Expired |
| 2023-01-07 | 2023-02-19 | 43 | $929,800 | - | Terminated |
| 2023-06-14 | 2023-09-15 | 95 | $998,000 | - | Expired |
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Property Details
Street
Community
City
Property Type
Detached, 2 1/2 Storey
Lot Size
48' x 110'
Acreage
< .50
Fronting
North
Taxes
$4,750 (2024)
Basement
Sep Entrance, Unfinished
Exterior
Brick, Vinyl Siding
Heat Type
Forced Air
Heat Source
Electric
Air Conditioning
Central Air
Water
Municipal
Parking Spaces
3
Driveway
Other
Garage Type
Detached
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Room Summary
| Room | Level | Size | Features |
|---|---|---|---|
| Sunroom | Main | 9.42' x 22.64' | Stained Glass |
| Bathroom | Main | 2.56' x 9.48' | |
| Living | Main | 21.98' x 24.41' | Sliding Doors |
| Kitchen | Main | 9.97' x 24.57' | |
| Prim Bdrm | 2nd | 11.58' x 14.14' | |
| Bathroom | 2nd | 10.50' x 10.99' | Ensuite Bath |
| Br | 2nd | 11.58' x 13.39' | |
| Br | 2nd | 8.14' x 13.98' | |
| Bathroom | 2nd | 6.07' x 10.50' | Hot Tub |
| Other | 3rd | 17.39' x 25.07' | Skylight |
| Living | Main | 0.98' x 10.89' | Sliding Doors |
| Kitchen | Main | 13.06' x 9.97' |
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Niagara Falls Market Statistics
Niagara Falls Price Trend
5197 SECOND Ave is a 4-bedroom 4-bathroom home listed for sale at $875,000, which is $165,117 (23.3%) higher than the average sold price of $709,883 in the last 30 days (October 21 - November 19). During the last 30 days the average sold price for a 4 bedroom home in Niagara Falls declined by $116,117 (14.1%) compared to the previous 30 day period (September 21 - October 20) and up $57,883 (8.9%) from the same time one year ago.Inventory Change
There were 38 4-bedroom homes listed in Niagara Falls over the last 30 days (October 21 - November 19), which is down 0.0% compared with the previous 30 day period (September 21 - October 20) and up 35.7% compared with the same period last year.Sold Price Above/Below Asking ($)
4-bedroom homes in Niagara Falls typically sold ($18,961) (2.7%) below asking price over the last 30 days (October 21 - November 19), which represents a $1,488 increase compared to the previous 30 day period (September 21 - October 20) and ($22,000) 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 Niagara Falls over the last 30 days (October 21 - November 19) stood at 839.5%, up from 31.6% over the previous 30 days (September 21 - October 20) and up from 17.9% 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 Niagara Falls stood at 27 days when successfully sold over the last 30 days (October 21 - November 19), compared to 73 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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