$340,000

$357,500For salePrice drop↓ $17,500 (5%)

#10 487 ELGIN Street North, Cambridge - Single Family for Sale

#10 487 ELGIN Street North, Cambridge, Ontario, N1R6V4

3 beds1 bath984 ft²$386/mo condo feeListed 54 days ago

Overview

This 3-bedroom, 1-bathroom condo in Cambridge is for sale offering roughly 984 sq ft of space. Listed at $340,000, it is attractively priced about 32% below the $499,900 median asking price in Cambridge. It has been on the market 54 days, fresher than the Cambridge average of 57 days.

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Description

Welcome to this 3-bedroom townhome in sought-after North Galt, offering a functional layout, plenty of natural light, and great potential to make it your own. An excellent opportunity for first-time buyers, young families, or investors, the home features a bright main floor with a spacious living area that flows naturally into the dining space and kitchen. Large windows bring in an abundance of natural light, creating a comfortable and inviting atmosphere throughout the main living areas. The kitchen offers ample space and a window overlooking the yard. Upstairs, you'll find three bedrooms and a 4-piece bathroom. The primary bedroom features double closets. The lower level provides plenty of opportunity for future customization. Outside, enjoy a private fenced backyard with a patio. Located in a quiet community with affordable condo fees, close to schools, parks, public transit, shopping, major amenities, and Highway 401. A home with good bones, a practical layout, great natural light, and plenty of potential for the future. (id:66096)

Property Details

MLS®: 40861061
Property Type: Single Family
Zoning: RM4
Bedrooms: 3
Beds (above / below): 3 above · 0 below
Bathrooms: 1
Interior Size: 984 ft²
Year Built: 1976
Storeys: 2
Basement: Unfinished, Full
Heating: Forced air, Natural gas
Cooling: Central air conditioning
Garage: None
Condo Fee: $386/mo
Ownership: Condo/Strata
Property Tax: $2,081/yr
Listed: 54 days ago

Rooms

Basement

Utility room: 15'7'' x 15'7''
Storage: 11'6'' x 15'7''

Second level

Primary Bedroom: 13'10'' x 8'9''
Bedroom: 10'1'' x 7'6''
Bedroom: 13'10'' x 8'9''
4pc Bathroom: 6'3'' x 6'5''

Main level

Living room: 10'6'' x 15'7''
Kitchen: 8'0'' x 8'9''
Dining room: 8'1'' x 9'5''

Room details as supplied by the listing brokerage. Dimensions are shown in the unit the listing states, and are approximate.

Features

Exterior: Brick, Vinyl siding
Lot Features: Cul-de-sac

Services

Water: Municipal water
Sewer: Municipal sewage system

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

54d

Cambridge listings, avg age

57d

Price / ft²

$346

List price

$340K

Homes here sell faster than most markets

Sold homes in this market spent an average of 32 days on the market over the past year, against a median of 48 days across the markets we publish.

Homes here sell close to asking price

Homes in this market sold for an average of 99.8 percent of their asking price over the past year, above the 96.4 percent median across the markets we publish.

Haho

This 3-bed single family in Cambridge has been listed for 54 days, which is 3 days fresher than the city average of 57. Act while there is still low competition.

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Listed by eXp Realty · MIRANDA DREXLER

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (N1R)

This home lists at $340,000, about 4.4× the local median household income of $77,000.

Carrying it typically needs a household income of about $66,414 (20% down, 25-yr amortization, stress-tested) — within reach of the area median.

Median household income: $77,000
Population: 42,928
Median age: 40.8
Owner / renter: 59% / 41%
Avg. household size: 2.5

Source: Statistics Canada, 2021 Census (FSA N1R)

$340,000· $346/ft²

For sale

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Full Cost Breakdown

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Down Payment5% · $17,000

Min 5%50%

Mortgage payment$1,791/mo

↳ CMHC premium ($12,920 capitalized)

Property tax (est.)$173/mo

Condo fee$386/mo

Total monthly$2,350

Cash Needed to Close

Down payment (5%)$17,000

Land transfer tax$3,575

Est. closing costs$3,520

Total cash needed$24,095

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