557 Lake Street, St. Catharines, ON
L2N 4J1
Listed July 21, 2026
About this property
Welcome to 557 Lake St - a well-kept, income-generating 2-family home in the highly convenient north end of St. Catharines. This solid property features two spacious 3-bedroom units-one on the main level and one on the lower level-each offering generous living space and modern updates. The layout also allows the home to be easily converted back into a single-family residence if preferred, giving you exceptional flexibility. Step inside to find tastefully renovated interiors, including updated kitchens with stone countertops, refreshed bathrooms, and clean, contemporary finishes throughout. Bright, functional layouts make both units appealing to families and long-term tenants. With two separate hydro meters, each household manages its own usage-a great feature for investors. Both units are currently leased to families, providing immediate, steady rental income. Perfectly located near shopping, parks, transit, and top-rated schools including Eden High School, St. Francis Catholic Secondary, Parnall PS, Dalewood PS, and École Élémentaire L'Héritage, this property offers the ideal blend of convenience, size, and value. Whether you're expanding your rental portfolio, seeking a multi-family living solution, or wanting a home that can easily be returned to single-family use, 557 Lake St is a fantastic opportunity worth exploring.
Features
Property Details
Listing
Property
Location
Taxes & Financials
Cost of Ownership Calculator
What it could cost each month to own 557 Lake Street — mortgage, property taxes, fees, insurance, utilities and upkeep. Change any number to match your situation.
Your mortgage
$132,980 · Minimum $41,490
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
$4,338/mo
About $52,056 a year
- $2,941
- $388
- Home insurance$125
- Utilities$330
- Maintenance & repairs$554
Cash needed to close
- Down payment (20%)
- $132,980
- Ontario land transfer tax
- $9,773
- Legal fees, title insurance & inspectionEstimate
- $2,500
- Total
- $145,253
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
557 Lake Street, St. Catharines, ON
Map data © GoogleOpen in Google Maps ↗
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Last Updated: July 21, 2026
Listing Office: RE/MAX ESCARPMENT REALTY INC.
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