237 First Avenue, Welland, ON
L3C 1Y7
Listed June 4, 2026
About this property
PERFECT MINI-DEVELOPMENT POTENTIAL!!! This is a promising development opportunity for investors keen on creating an eight-townhouse site within walking distance of Niagara College. This lot is ideal for either demolishing the existing house to construct eight affordable townhouses or subdividing into three 40-foot frontage lots. With the HST rebate currently available, there is strong demand for land to secure pre-sales. Concept plans suggest the possibility of eight townhouse lots at approximately $100,000 per lot, with an additional $50,000 allocated for consulting and necessary official plan and zoning by-law amendments. Pre-consultations are recommended for any development initiatives, whether for three lots or eight townhouses. A demolition estimate is also available, and tenants are amenable to staying until demolition is required. This is an excellent opportunity for development and land acquisition in a prime student area near Niagara College. Concept plans for townhouse or detached lots available.
Features
Property Details
Listing
Property
Location
Taxes & Financials
Cost of Ownership Calculator
What it could cost each month to own 237 First Avenue — mortgage, property taxes, fees, insurance, utilities and upkeep. Change any number to match your situation.
Your mortgage
$149,970 · Minimum $49,985
Use the rate your lender or broker quotes you.
Monthly costs
From the listing (2025 tax bill).
Leave at $0 if there isn't one.
Typical for this kind of home.
Hydro, heating, water and sewer.
About 1% of the price a year, set aside.
One-time costs
A typical estimate — your lawyer will confirm.
Estimated monthly cost of ownership
$4,704/mo
About $56,448 a year
- $3,317
- $307
- Home insurance$125
- Utilities$330
- Maintenance & repairs$625
Cash needed to close
- Down payment (20%)
- $149,970
- Ontario land transfer tax
- $11,472
- Legal fees, title insurance & inspectionEstimate
- $2,500
- Total
- $163,942
Estimates only — not a mortgage approval, quote or tax advice. Payments assume a fixed rate compounded semi-annually; minimum down payments, mortgage insurance and land transfer tax follow current CMHC and Ontario rules. Insurance, utilities and upkeep are typical figures for the area. Your lender, lawyer and insurer will confirm your exact costs.
Location & Walkability
237 First Avenue, Welland, ON
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Last Updated: June 4, 2026
Listing Office: ROYAL LEPAGE NRC REALTY
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