$599,900

For sale

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#3 3562 Colonial Drive, Mississauga (Erin Mills) - Single Family for Sale

#3 3562 Colonial Drive, Mississauga (Erin Mills), Ontario, L5L0C1

2 beds3 baths1 parking ft²

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Investment analysis

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$599,900

Mississauga

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Overview

This 2-bedroom, 3-bathroom condo in Mississauga is for sale offering roughly 950 sq ft of space. Listed at $599,900, it is attractively priced about 11% below the $675,000 median asking price in Mississauga. It has been on the market 31 days, fresher than the Mississauga average of 45 days.

Condos for Sale in Mississauga →All real estate in Mississauga →

Description

Beautiful & Spacious 2-Bedroom, 2.5-Bath Luxury Condo Townhouse in Erin Mills. Approx 999 Sq Ft. Thoughtfully Designed Open Concept Layout with Additional Basement Storage (Crawl space). Generously Sized Bedrooms, Primary Featuring a 4-Piece Ensuite and Closet. Modern Open Kitchen with Stainless Steel Appliances, Pantry, and Central Island. Convenient 2nd Level Laundry. Mins to Amenities, Including Ridgeway Plaza, Walmart, Costco, Major Retailers, Parks, and Community Centre. (id:66096)

Property Details

MLS®: W13859436
Property Type: Single Family
Bedrooms: 2
Beds (above / below): 2 above · 0 below
Bathrooms: 3
Half Baths: 1
Parking: 1
Interior Size: 950 ft²
Storeys: 2
Basement: Crawl space
Heating: Forced air, Natural gas
Cooling: Central air conditioning
Garage: Garage, Underground
Condo Fee: $360/mo
Fee Includes: Common Area Maintenance, Insurance, Parking
Ownership: Condo/Strata
Property Tax: $3,846/yr
Listed: 31 days ago

Market Timing

Days on market

31d

Mississauga (Erin Mills) listings, avg age

45d

Price / ft²

$632

List price

$600K

Homes here sell faster than most markets

Sold homes in this market spent an average of 34 days on the market over the past year, against a median of 48 days across the markets we publish.

Area context

Neighbourhood profile (L5L)

This home lists at $599,900, about 5.5× the local median household income of $110,000.

Carrying it typically needs a household income of about $117,181 (20% down, 25-yr amortization, stress-tested) — roughly 7% above the area median.

Median household income: $110,000
Population: 43,585
Median age: 44
Owner / renter: 79% / 21%
Avg. household size: 2.9

Source: Statistics Canada, 2021 Census (FSA L5L)

$599,900· $632/ft²

For sale

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Full Cost Breakdown

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Down Payment5.83% · $34,990

Min 5.83%50%

Mortgage payment$3,132/mo

↳ CMHC premium ($22,596 capitalized)

Property tax (est.)$321/mo

Condo fee$360/mo

Total monthly$3,813

Cash Needed to Close

Down payment (5.83%)$34,990

Land transfer tax$8,473

Est. closing costs$4,300

Total cash needed$47,763

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#3 3562 Colonial Drive, Mississauga (Erin Mills) - Single Family for Sale

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