556 Empire Avenue
St. John’s, NL, A1E1W9
5 Beds | 3 Baths
$419,900
About the property (MLS: 1287047):
Welcome to 556 Empire Avenue — a solid, two-apartment home in a prime, high-demand location between Memorial University, Churchill Square, and downtown St. John’s. This area has long been a hotspot for consistent rental income, with steady demand from students, healthcare workers, and young professionals alike. Walkable, well-connected, and close to absolutely everything — groceries, coffee shops, parks, gyms, transit routes, MUN, the Health Sciences Centre, and downtown’s dining and nightlife — this is the kind of central location investors love. The property is fully occupied with two strong rental streams in place: the upstairs unit is leased at $1,995/month (internet and cable included) until October 1, 2025, with the tenant scheduled to vacate at that time — perfect timing for an owner-occupier or a re-list at market value. The lower unit is bringing in $1,075/month, also including internet and cable, and has been an easy, reliable rental — with the current tenant scheduled to vacate November 30, 2025. Each unit has its own entrance, and the home has been well maintained, making it a solid turn-key addition to your portfolio or an ideal first purchase with major mortgage-helping potential. This stretch of Empire Avenue is filled with classic homes, long-term residents, and investment properties that rarely sit vacant. With rising rental rates in the city, close proximity to major institutions, and a flexible occupancy timeline upstairs, 556 Empire offers immediate income, low vacancy risk, and long-term upside in a location that’s only getting stronger. Whether you’re a seasoned investor or a savvy buyer looking for a foothold in the city, this one is a no-brainer. As per seller’s direction, there will be no conveyance of offers prior to 12:00PM on Monday, June 30th, 2025, to be left open until 3:00PM on Monday, June 30th, 2025. (id:56688)
Property Details
Listing ID: 28525731
Address: 556 Empire Avenue, St. John’s, Newfoundland & Labrador, Canada A1E1W9
Status: Active
Last updated: 14 days ago ( Jun 27, 2025 )
Year Built: 2007
Property Type: Single Family
Structure Type: Two Apartment House
Ownership Type: Freehold
Beds: 5
Baths: 3
1/2 Baths: 1
Heating: Baseboard heaters, Electric
Sewer: Municipal sewage system
Flooring: Laminate, Mixed Flooring
Living Area Total: 2,060 square feet
Price per sq ft: $204
Tax Annual Amount: $2,933
Garage? No
Attached Garage? No
Carport? No
Open Parking? No
Waterfront? No
Pool? No
Appliances: Washer, Refrigerator, Dishwasher, Stove, Dryer
Water Source: Municipal water
Heating: Baseboard heaters, Electric
Flooring: Laminate, Mixed Flooring
Exterior Features: Vinyl siding
Cooling: Air exchanger
Common Interest: Freehold
Number of photos available: 28
Rurl
Coordinates: [47.548255, -52.751991]
Rooms
| Basement | Not known Not known Not known Not known Not known Utility room Recreation room | Full Bath null 9’0” x 9’0” null 12’6” x 8’6” null 8’6” x 5’2” null 13’6” x 10’6” null 13’6” x 12’0” null 16’6” x 9’0” null |
| Main level | Ensuite Bath (# pieces 1-6) Bedroom Bedroom Bedroom Living room Kitchen | Half null Full null 9’2” x 8’8” null 10’0” x 9’6” null 12’0” x 12’0” null 18’0” x 13’6” null 12’6” x 11’6” null |
Basic Calculator
First Mortgage: $335,920
Mortgage insurance premium: $0
Total Financing: $335,920
Rough closing fee (1.5%): ~ $6,299
Total downpayment with estimated closing fee: $90,279
Investment Calculator:
| Monthly | Yearly | |
|---|---|---|
| Gross Revenue | $2,266 | $27,192 |
| Gross rental income (income/principal ratio) | 0.540% | 6.476% |
| Mortgage | $0 | $0 |
| Monthly Expenses | $525 | $6,300 |
| Vacancy | $114 | $1,360 |
| Management Fee | $182 | $2,176 |
| Expense / Income Ratio | 23.17% | 23.17% |
| Cash Flow | $1,447 | $17,364 |
| Net Operating Income (NOI) | $1,447 | $17,364 |
| Capitalization Rate | 0.34% | 4.14% |
