$999,116

For sale

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116A Melrose Street, Toronto (Mimico) - Single Family for Sale

116A Melrose Street, Toronto (Mimico), Ontario, M8Y1B3

78 Royal York Road, Toronto (Mimico), Ontario, M8V2T8

3 bd3 ba2 pk1,750 ft²Lot size 34 × 92 ft (3,082 sq ft)

Listed by KELLER WILLIAMS REFERRED URBAN REALTY

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For saleJust listed

2 days ago

$1.29M

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4 bd2 ba4 pk1,300 ft²Lot size 40 × 91 ft (3,644 sq ft)

Listed by ROYAL LEPAGE SUPREME REALTY

54 Albani Street, Toronto (Mimico), Ontario, M8V1X2

For saleJust listed

2 days ago

$998K

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3 bd2 ba1 pk1,300 ft²Lot size 25 × 125 ft (3,125 sq ft)

Listed by KELLER WILLIAMS REFERRED URBAN REALTY

129 Cavell Avenue, Toronto (Mimico), Ontario, M8V1P5

For sale

8 days ago

$848K

129 Cavell Avenue, Toronto (Mimico), Ontario, M8V1P5

4 bd2 ba1 pk1,300 ft²Lot size 30 × 85 ft (2,550 sq ft)

Listed by ROYAL LEPAGE SIGNATURE REALTY

Investment analysis

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$999,116

Toronto

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4 beds3 baths3 parking1,750 ft²25 × 125 ft (3,125 sq ft) lot sizeListed 13 days ago

Overview

This 4-bedroom, 3-bathroom home in Toronto is for sale offering roughly 1,750 sq ft of space. Listed at $999,116, it is attractively priced about 19% below the $1,229,000 median asking price in Toronto. It has been on the market 13 days, fresher than the Toronto average of 56 days.

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Description

Welcome to 116A Melrose St in the heart of highly desirable Mimico! A wonderful canvas awaiting your personal style! This home offers a solid layout and great bones, ready for you to bring your own design ideas, updates, and custom finishes. Featuring 3+1 bedrooms, 3 bathrooms, and a partly finished basement with walk out, this property is packed with potential. The main levels offer 3 bedrooms and generous storage space throughout. The lower level features direct walk out access, along with a 4th bedroom and a full bathroom, ideal for a guest space, home office, or potential secondary suite. Unbeatable location on a quiet street just minutes from the Mimico GO Station, Lake Ontario waterfront trails, top rated schools, and quick highway access to Downtown Toronto. Property requires some updates and is priced accordingly. An extraordinary chance for renovators, investors, or end-users to build massive equity in South Etobicoke! (id:66096)

Property Details

MLS®: W14109152
Property Type: Single Family
Bedrooms: 4
Beds (above / below): 3 above · 1 below
Bathrooms: 3
Half Baths: 1
Parking: 3
Interior Size: 1,750 ft²
Lot Size: 25 × 125 ft (3,125 sq ft)
Frontage: 25 ft
Storeys: 2
Basement: Partially finished, Separate entrance, N/A, N/A
Heating: Forced air, Natural gas
Cooling: Central air conditioning
Garage: Garage
Ownership: Freehold
Property Tax: $4,467/yr
Listed: 13 days ago

Rooms

Main level

Living room
Kitchen
Dining room

Second level

Primary Bedroom
Bedroom 2
Bedroom 3

Basement

Bedroom 4

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

Features

Appliances: Washer, Refrigerator, Dishwasher, Stove, Dryer
Foundation: Unknown
Exterior: Brick

Services

Water: Municipal water
Sewer: Sanitary sewer

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

13d

Toronto (Mimico) listings, avg age

56d

Price / ft²

$571

List price

$999K

Homes here sell faster than most markets

Sold homes in this market spent an average of 33 days on the market over the past year, against a median of 48 days across the markets we publish.

Homes here sell below asking price

Homes in this market sold for an average of 94.6 percent of their asking price over the past year, below the 96.4 percent median across the markets we publish.

Haho

This 4-bed single family in Toronto (Mimico) has been listed for 13 days, which is 43 days fresher than the city average of 56. Act while there is still low competition.

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Listed by ROYAL LEPAGE SIGNATURE REALTY · STANLEY BERNARDO

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (M8Y)

This home lists at $999,116, about 11.0× the local median household income of $91,000.

Carrying it typically needs a household income of about $195,162 (20% down, 25-yr amortization, stress-tested) — roughly 114% above the area median.

Median household income: $91,000
Population: 21,986
Median age: 40.8
Owner / renter: 56% / 44%
Avg. household size: 2.2

Source: Statistics Canada, 2021 Census (FSA M8Y)

$999,116· $571/ft²

For sale

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Full Cost Breakdown

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Down Payment7.50% · $74,911.60

Min 7.50%50%

Mortgage payment$5,124/mo

↳ CMHC premium ($36,968 capitalized)

Property tax (est.)$372/mo

Total monthly$5,496

Cash Needed to Close

Down payment (7.50%)$74,912

Land transfer tax$32,915

Est. closing costs$5,497

Total cash needed$113,323

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Rates via our partner mortgage brokers at iShopRates · Estimates only, not financial advice