A house that was bought for $835,000 in 2022 has recently been sold at a significant loss in southern Ontario.
The property located at 60 Carlton St. in downtown St. Catharines suffered extensive damage from a fire, as reported in online real estate records. The incident occurred in December 2024, and thankfully, there were no injuries reported.
This multi-unit building has seen eight listings since 2018.
In 2020, it was promoted as an income property with three separate units already occupied by tenants.
By 2023, the home had been turned into a rooming house featuring ten rented bedrooms, according to the listing details.
The home changed hands for $480,000 back in August 2020 and then jumped to an astonishing $835,000 less than two years later in March 2022, based on online real estate records.
A few months later, in June 2022, it hit the market again with a price tag of $799,000. That figure dropped to $770,000 by June 2023. The property remained unsold until January 2025 despite being listed during that time.
In June 2025, it was re-listed at $299,900 and ultimately sold this month for just $257,000. It’s unclear how much compensation the owners received from insurance.
“This triplex was bought in 2022 for $835K,” said real estate commentator Shazi Goalie on X. “Since August 2022, the owners have been trying to sell it – but despite it raking in $72,000 a year in rent, there were no takers. Then came the fire that gutted the home. They just sold it for a 70% loss of $578,000. Hopefully their insurance will cover the rest.”
📢 Fire Sale in St. Catharines
📍 St. Catharines, ON 🇨🇦
This triplex was bought in 2022 for $835K. 🏠
It was quickly transformed into a rooming house holding 10 people. 🛏️
Since August 2022, the owners have been trying to sell it – but despite it raking in $72,000 a year in… pic. twitter. com/Nbb F1G0dzv
– Shazi (@Shazi Goalie) October 8, 2025
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Last 30 Days: 65,414 Votes
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A few months later, in June 2022, it hit the market again with a price tag of $799,000. That figure dropped to $770,000 by June 2023. The property remained unsold until January 2025 despite being listed during that time.
In June 2025, it was re-listed at $299,900 and ultimately sold this month for just $257,000. It’s unclear how much compensation the owners received from insurance.
“This triplex was bought in 2022 for $835K,” said real estate commentator Shazi Goalie on X. “Since August 2022, the owners have been trying to sell it – but despite it raking in $72,000 a year in rent, there were no takers. Then came the fire that gutted the home. They just sold it for a 70% loss of $578,000. Hopefully their insurance will cover the rest.”
📢 Fire Sale in St. Catharines
📍 St. Catharines, ON 🇨🇦
This triplex was bought in 2022 for $835K. 🏠
It was quickly transformed into a rooming house holding 10 people. 🛏️
Since August 2022, the owners have been trying to sell it – but despite it raking in $72,000 a year in… pic. twitter. com/Nbb F1G0dzv
– Shazi (@Shazi Goalie) October 8, 2025
INsauga’s Editorial Standards and Policies
Last 30 Days: 65,414 Votes
All Time: 1,228,948 Votes
2607 VOTES
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