205 WATER STREET
PEIA · C1N1B4
$429,900
About this residence
Discover the potential of 205 Water Street in the heart of downtown Summerside, PEI! This versatile property features a spacious 5-bedroom residence above, ready for your personal touch, alongside two thriving commercial rentals on the main level. With current tenants already in place, this is an ideal opportunity for those looking to live in the vibrant downtown area while running a business or managing rental income. The residential space has new windows and updated electrical, with some cosmetic renovations already started in the bathroom, waiting for your finishing touches. Imagine the possibilities of a weekly rental above, combined with established commercial leases below. Don?t miss your chance to invest in a prime location on the Main Street of PEI's second-largest city .Lot goes street to street ?opportunities like this are rare and endless! (id:61366)
Property details
- Property type
- Single Family
- Style
- House
- Ownership
- Freehold
- Bedrooms
- 5 (5 above)
- Bathrooms
- 2 (1 half)
- Storeys
- 2
- Living area
- 2,892 sq ft
- Lot size
- 0.10
- Year built
- 1923
- Annual tax
- $2,514
- MLS®
- 202522262
- Board
- PEIA
- Status
- Inactive
- Listed
- Sep 3, 2025
- Updated
- Sep 29, 2025
Room dimensions
| Room | Level | Dimensions |
|---|---|---|
| Other | Second level | Back Entry 13.11 x 14 |
| Kitchen | Second level | 14 x 14.6 |
| Other | Second level | Hall 7 x 25 |
| Living room | Second level | 18.4 x 13.6 |
| Bedroom | Second level | 18.4 x 12 |
| Kitchen | Second level | 9 x 14 |
| Bedroom | Third level | 12 x 14 |
| Bedroom | Third level | 9 x 14 |
| Bedroom | Third level | 10 x 11 |
| Bedroom | Third level | 7 x 15 |
| Other | Main level | Store 18 x 30 |
| Other | Main level | Store 17 x 20 |
| Bath (# pieces 1-6) | Third level | 8 x 10 |
| Bath (# pieces 1-6) | Main level | 4 x 4 |
Features & finishes
Appliances
- Washer
- Stove
Flooring
- Hardwood
- Tile
Heating
- Hot Water
- Radiator
- Electric
- Oil
Basement
- Full
Exterior
- Other
Foundation
- Poured Concrete
Parking
- Detached Garage
- Exposed Aggregate
Sewer & Utilities
- Septic System
Financing
Estimated monthly payment
$2,011/mo
Loan amount
$343,920
Down payment
$85,980
Estimate only. Rates and terms vary by lender and qualification.
Powered by Lenderoo.caLocation & area
PEIA
Nearby
About the area
Census · C1N- 17,691
- Population
- 47
- Median age
- $65,000
- Median income
- $250,000
- Median home value
- 59%
- Home ownership
- 16 min
- Avg. commute
Age distribution
Tenure
Neighbourhood statistics for the property’s forward sortation area. Figures are census-derived estimates.
Powered by Neighbourly.ioFrequently asked questions
What is the asking price for 205 WATER STREET?
205 WATER STREET is listed for $429,900, in PEIA.
How many bedrooms and bathrooms does 205 WATER STREET have?
It offers 5 bedrooms and 2 bathrooms (including 1 half-bath).
What type of home is 205 WATER STREET?
205 WATER STREET is a Single Family, House set over 2 storeys, built in 1923.
How large is 205 WATER STREET?
The home offers approximately 2,892 sq ft of living space on a lot measuring 0.10.
What would the monthly mortgage payment be?
With a 20% down payment at a 5.0% interest rate over a 25-year amortization, the estimated monthly payment is about $2,011. Use the mortgage calculator above to model your own scenario.
What are the annual property taxes?
Property taxes are approximately $2,514 per year.
What is the PEIA area like?
PEIA has a population of about 17,691, a median age of 47, a 59% home-ownership rate, with an average commute of about 16 minutes.
What is the average home value in PEIA?
The median dwelling value in this area is approximately $250,000, based on census data via Neighbourly.
What is the median household income in PEIA?
The median household income in this area is approximately $65,000.
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