$279,000

For sale

#501 283 Fairway Rd Road North, Kitchener - Single Family for Sale

#501 283 Fairway Rd Road North, Kitchener, Ontario, N2A2P1

2 beds1 bath1 parking850 ft²$874/mo condo feeListed 40 days ago

Overview

This 2-bedroom, 1-bathroom condo in Kitchener is for sale offering roughly 850 sq ft of space. Listed at $279,000, it is attractively priced about 30% below the $399,500 median asking price in Kitchener. It has been on the market 40 days, fresher than the Kitchener average of 53 days.

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Description

ATTENTION FIRST TIME HOME BUYERS OR INVESTORS! Welcome to this bright and spacious, 2-bedroom condo in Kitchener. Find yourself conveniently located near schools, parks, shopping, and public transit, this condo is perfect for first-time buyers, downsizes, or investors. Featuring a good sized living space to wind down after a long day in, as well as a modern kitchen with ample cabinet space. This unit is filled with natural light from large windows throughout. The generous-sized bedrooms offer great closet space, while the 4-piece bathroom provides comfort and functionality. Condo fees include Hydro, Water and Building insurance, this ensures worry-free living with all your essential utilities covered. Laundry is available in the building. Prime location as its just minutes to Highway 8, Fairway Mall, Chicopee Park, Grocery stores and schools. RARE TO FIND SINGLE CAR GARAGE WHICH COMES WITH UNIT. Don't miss this fantastic opportunity. (id:66096)

Property Details

MLS®: X13829910
Property Type: Single Family
Zoning: R2
Bedrooms: 2
Beds (above / below): 2 above · 0 below
Bathrooms: 1
Parking: 1
Interior Size: 850 ft²
Basement: None
Heating: Baseboard heaters, Electric
Cooling: None
Garage: Attached Garage, Garage
Condo Fee: $874/mo
Fee Includes: Heat, Electricity, Water, Insurance, Parking
Ownership: Condo/Strata
Property Tax: $1,884/yr
Listed: 40 days ago

Rooms

Main level

Great room: 3.86 x 6.6 meters
Kitchen: 2.5 x 2.53 meters
Dining room: 2.4 x 2.6 meters
Primary Bedroom: 4.45 x 3.51 meters
Bedroom 2: 4.45 x 2.77 meters
Bathroom

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

Features

Appliances: Refrigerator, Stove
Exterior: Brick, Vinyl siding
Lot Features: Balcony, Laundry- Coin operated

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

40d

Kitchener listings, avg age

53d

Price / ft²

$328

List price

$279K

Homes here sell faster than most markets

Sold homes in this market spent an average of 31 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 100.7 percent of their asking price over the past year, above the 96.4 percent median across the markets we publish.

Haho

This 2-bed single family in Kitchener has been listed for 40 days, which is 13 days fresher than the city average of 53. Act while there is still low competition.

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Listed by HomeLife Power Realty Inc · AMRIT SIDHU

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (N2A)

This home lists at $279,000, about 2.9× the local median household income of $96,000.

Carrying it typically needs a household income of about $54,498 (20% down, 25-yr amortization, stress-tested) — within reach of the area median.

Median household income: $96,000
Population: 32,454
Median age: 39.2
Owner / renter: 71% / 29%
Avg. household size: 2.7

Source: Statistics Canada, 2021 Census (FSA N2A)

$279,000· $328/ft²

For sale

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Full Cost Breakdown

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Down Payment5% · $13,950

Min 5%50%

Mortgage payment$1,469/mo

↳ CMHC premium ($10,602 capitalized)

Property tax (est.)$157/mo

Condo fee$874/mo

Total monthly$2,500

Cash Needed to Close

Down payment (5%)$13,950

Land transfer tax$2,660

Est. closing costs$3,337

Total cash needed$19,947

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