172 Hanover Place, Hamilton, ON
Vincent, Hamilton · MLS® X13504506
About this home
In short
- Welcome to 172 Hanover Place, this legal duplex offers incredible flexibility for homeowners and investors alike.
- 172 Hanover Place is a rare and exciting opportunity in the desirable Gershome neighbourhood of Hamilton.
- What truly sets this property apart is the inclusion of approved permits and architectural drawings for a detached garden suite-giving you the ability to add a third...
- This property has full drawings for a garden suite and permits.
Welcome to 172 Hanover Place, this legal duplex offers incredible flexibility for homeowners and investors alike. 172 Hanover Place is a rare and exciting opportunity in the desirable Gershome neighbourhood of Hamilton. Situated on a quiet cul-de-sac. Whether you're looking to live in one unit and rent the other, house extended family, or expand your real estate portfolio, this property delivers on all fronts.Each unit is self-contained with its own entrance, offering privacy and strong rental potential. What truly sets this property apart is the inclusion of approved permits and architectural drawings for a detached garden suite-giving you the ability to add a third income-generating unit on the same lot. With the heavy lifting already done, you're one step away from maximizing the full potential of this property.Set on a spacious lot with a fully fenced backyard and ample private parking, the home is just minutes from scenic trails, parks, schools, public transit, and easy access to the Red Hill Valley Parkway. Thoughtfully updated and move-in ready, this is the ideal blend of functionality, location, and long-term upside.Don't miss your chance to own a legal duplex with garden suite potential in one of Hamilton's most sought-after communities. Schedule your private showing today.This property has full drawings for a garden suite and permits.
Key facts
- Property type
- Detached, Bungalow-Raised
- MLS®
- X13504506
- Bedrooms
- 4
- Bathrooms
- 2
- Size
- 700-1100 sq ft
- Lot
- 50 × 115 ft
- Cross streets
- Bunker Hill & Hanover Place
- Parking
- 6 parking
- Basement
- Apartment, Development Potential, Finished
- Heating
- Forced Air
- A/C
- Central Air
- Exterior
- Vinyl Siding
- Foundation
- Concrete Block
- Roof
- Asphalt Shingle
- Sewer
- Sewer
- Property tax
- $2,025 / 2025
- Days on market
- 84
- Listing brokerage
- RE/MAX REAL ESTATE CENTRE INC.
Rooms
4 Pc Bath
Listed at $839,999, about 38% above our estimate of $608K (homes like it typically land between $570K and $637K). A gap this wide is more often a limit of an automated estimate than a fact about the home, so treat the figure as a starting point, not a verdict.
Longer on the market than typical. 84 days on the market, and asking 38% above where comparable closings put it.
Total price vs nearby homes. Fair value about $608K, learned from recent GTA sales.
The market behind the math:
Price per square foot: this home lists at $933/sqft against an area asking average of $573/sqft.
- basement apartment features. A finished basement apartment. A self-contained space for extended family, guests or potential income. In Vincent basements rarely rent out (1 of 9 recent detached leases were basement units), so buyers here treat a suite as family or nanny space rather than income. Value it for the living space, not the rent. Second-suite retrofit status is not verified. A buyer intending to rent should confirm requirements with the Town of Hamilton.
How this estimate is builtthe short version
This figure comes from a model built on about 44,000 recent GTA sales. It weighs this home’s tax assessment, size, age, location and features against what homes like it actually sold for, including sales in this neighbourhood.
It never sees the asking price. The 21 most comparable recent sales on their own, adjusted for size, beds, baths and lot, point to about $647K. Condition and finishes remain an in-person call.
What the listing highlights1 point to weigh
Claims from the listing, worth confirming in person. I can book you a private showing.
- Garden / laneway suite potential: extra-unit upside, but confirm zoning and feasibility with the city. Worth verifying
Read this with carewhy it’s an estimate, not an appraisal
The listing states size as a wide range, so the size adjustment is approximate and this estimate is a rough read. I can confirm exact square footage to tighten it.
There were not many closely comparable homes right in Vincent, so I widened the search to the surrounding area.
Based on 21 comparable homes that sold in Vincent over the past two years, from 39 closings there.
Nothing closely matching this home is listed nearby right now, so these are the nearest detached listings on the market. Homes like this one have recently closed around $666K, which is where my estimate comes from.
Per square foot, these ask about $666/sqft; this home lists at $933/sqft. Size is part of the price story, not just the sticker.
The 3 closest active listings nearby.
See all comparable homesNeighbourhood & location
Vincent, Hamilton, ON
Enter a workplace or destination and we’ll show the door-to-door time by car, transit and bike.
How asking prices compare in the closest areas to this home. Longer bars mean a pricier market.
Typical asking price of active listings of the same type, per area (outliers removed). Hamilton.
Get the full neighbourhood report (schools, parks, transit & safety) →
Affordability & Mortgage
Income needed assumes a ~32% GDS ratio; weekly is mortgage principal & interest only. Price ÷ income is the home price over the income needed. Fixed reference assumptions so listings compare on equal footing, not a lending decision.
Calculate and customize your mortgage and other expenses
Adjust the down payment, rate, and amortization, and add property tax, condo fees, and heating to see your true monthly cost.
Your numbers
Conventional (20%+ down). Best insured 5-year fixed 4.24% via Ratehub.ca (as of September 23, 2026); conventional rates run a little higher.
Mortgage amount $671,999 · 4.39% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $3,678
- Property tax
- $169
- Condo / maintenance fees
- $0
- Heating
- $0
- Estimated monthly cost
- $3,847
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $13,275
- Estimated closing costs
- $13,275
Plus your down payment of $168,000. Legal fees, title insurance, and adjustments are extra and vary by deal.
Mortgage stress test
Lenders qualify you at the greater of your rate plus 2% or 5.25%. You do not pay this rate. It just shows you could still handle payments if rates rose, so aim to stay comfortable at this higher number.
Over the full 25 years
At the end of your 5-year term
- Total paid over the term
- $220,701
- Principal paid down
- $83,088
- Interest paid
- $137,613
- Balance remaining
- $588,911
Talk to Team Asgarian about your options
Rates and programs change often. We will connect you with a trusted mortgage professional and build a plan that fits your budget and goals.
Estimates only, not a mortgage quote or pre-approval. Figures use Canadian semi-annual compounding, current minimum down-payment rules, CMHC premium tiers, and Ontario (plus Toronto, when selected) land transfer tax. Actual rates, taxes, insurance, and closing costs vary by lender and property. Confirm every number with your mortgage professional.
Investor snapshot
About the suite: in Vincent basements rarely rent out (1 of 9 recent detached leases were basement units), so the figure above does not count it as income. Buyers here use a suite as family or nanny space.
Thinking of this home as an investment? We will pull real comparable rents and run the full numbers with you.
Talk about the numbersThe last 5 whole-home leases in Vincent signed at a median of $3,000 a month; adjusted to this home for size, beds and baths, and for where rents stood the month each signed, that is $2,321. The gross yield above is on the asking price, before taxes and upkeep; the cap rate is after them. A finished basement or second suite can push real rent above it. Taxes, fees, and vacancy vary by property, and cap rate is before financing.
Helpful resources
All information deemed reliable but not guaranteed. For personal, non-commercial use only. Listing courtesy of RE/MAX REAL ESTATE CENTRE INC.. MLS®/PropTx.