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185 Thames Street

185 Thames Street

Chatham, Ontario

Multi-family

$305,000

Welcome to a prime duplex investment opportunity at 185/187 Thames St., perfectly situated in the vibrant heart of Chatham, Ontario. This exceptionally well-maintained property features a highly desirable side-by-side configuration, making it an ideal acquisition for savvy real estate investors or buyers looking for a primary residence that generates substantial rental income. The property consists of two distinct units. The first is a well-maintained, tenant-occupied space currently generating reliable income at $1,100 per month, featuring stylish modern updates including fresh paint, durable new flooring, and an updated kitchen. The second unit is currently owner-occupied, and the seller will provide full vacant possession upon closing. This vacancy presents a phenomenal opportunity to either move in and ""house hack"" or optimize your portfolio by setting current market rent, which is conservatively estimated at $1,700 or more per month. Both units benefit from separate newer HVAC systems that ensure premium climate control and energy efficiency, a brand-new roof for total peace of mind, and separate dedicated laundry facilities located in the basement. Residents on both sides will love the access to a beautiful, private backyard oasis that offers a serene outdoor escape from the daily hustle. Parking is effortless with a long cement driveway that easily accommodates four vehicles, supplemented by ample street parking. Do not miss out on this turnkey gem!

Price History

Schools

Secondary

  • Ursuline College Chatham Catholic Secondary School0.8 km

    Catholic · St Clair CDSB · 1335 students

    Grade 10 literacy: 88% met the provincial standard

  • Chatham-Kent Secondary School1.4 km

    Public · Lambton Kent DSB · 1150 students

    Grade 10 literacy: 77% met the provincial standard

  • John McGregor Secondary School3.1 km

    Public · Lambton Kent DSB · 560 students

    Grade 10 literacy: 65% met the provincial standard

Elementary

  • King George VI Public School1.1 km

    Public · Lambton Kent DSB · 285 students

    Grade 3 reading: 78% met the provincial standard · Grade 6 math: 50% met the provincial standard

  • Victor Lauriston Public School1.9 km

    Public · Lambton Kent DSB · 320 students

    Grade 3 reading: 57% met the provincial standard · Grade 6 math: 0% met the provincial standard

  • Winston Churchill Public School1.9 km

    Public · Lambton Kent DSB · 250 students

    Grade 3 reading: 62% met the provincial standard · Grade 6 math: 29% met the provincial standard

Straight-line distance. Nearby schools are not necessarily the assigned schools — confirm catchment with the school board. Scores are EQAO provincial test results for 2024-2025.

Community

Postal area N7L

Population
25,127
Private dwellings
11,583
Median age
47.2
Average household size
2.2
Median household income
$68,500

Source: Statistics Canada, 2021 Census of Population, catalogue 98-401-X2021013. Adapted from Statistics Canada. This does not constitute an endorsement by Statistics Canada of this product.

Local market

Multi-family in Chatham · last 12 months

Median sold price
$0
Homes sold
0
Median days on market
0
Sale-to-list price
0.0%

Based on 0 recorded sales of multi-family properties in Chatham over the last 12 months.

Walk Score

80

Walk

48

Bike

Scores by Walk Score®

Location

Mortgage Calculator

$61,000

Estimated Monthly Payment

$1,498

Investment Analysis

No recent nearby lease data. Enter a rent to see the numbers.

Mortgage: $1,498/mo (20% down, 5.5%)

Taxes: $0/mo · Insurance: $76/mo

Estimates only. Consult a financial advisor.

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