$759,000

For sale

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

262 Melrose Street, Toronto (Mimico), Ontario, M8Z1G6

2 beds1 bath2 parking900 ft²25 × 125 ft (3,125 sq ft) lot sizeListed 22 days ago

Overview

This 2-bedroom, 1-bathroom home in Toronto is for sale offering roughly 900 sq ft of space. Listed at $759,000, it is attractively priced about 38% below the $1,229,000 median asking price in Toronto. It has been on the market 22 days, fresher than the Toronto average of 57 days.

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Description

Attention builders, investors, renovators, and first-time buyers. Welcome to this charming two-bedroom home in the heart of sought-after Mimico, in South Etobicoke. Set on a generous deep lot, this well-maintained property offered as is, presents fantastic potential to renovate or expand. Inside, enjoy a sun-filled main level, new flooring throughout, fresh paint, and a separate side entrance with excellent potential for future rental income or an in-law suite. Step outside to a spacious backyard, perfect for entertaining, gardening, or future expansion. Ideally located just minutes from the lake, waterfront trails, Mimico GO Station, Highway 427, the QEW, excellent schools, cafes, restaurants, shops, The Queensway, and Sherway Gardens. A rare opportunity to secure a prime piece of real estate with exceptional lifestyle and long-term value. (id:66096)

Property Details

MLS®: W14028180
Property Type: Single Family
Bedrooms: 2
Beds (above / below): 2 above · 0 below
Bathrooms: 1
Parking: 2
Interior Size: 900 ft²
Lot Size: 25 × 125 ft (3,125 sq ft)
Frontage: 25 ft
Storeys: 1
Basement: Unfinished, N/A
Heating: Forced air, Natural gas
Cooling: Central air conditioning
Garage: No Garage
Ownership: Freehold
Property Tax: $3,867.25/yr
Listed: 22 days ago

Rooms

Main level

Foyer: 2.16 x 1.4 meters
Kitchen: 2.84 x 2.77 meters
Dining room: 3.61 x 2.87 meters
Living room: 4.29 x 3.45 meters
Mud room: 2.46 x 2.36 meters

Second level

Primary Bedroom: 3.43 x 3.12 meters
Bedroom 2: 3.12 x 2.74 meters

Lower level

Utility room: 7.14 x 5.74 meters
Other: 2.77 x 1.55 meters

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

Features

Appliances: Refrigerator, Stove, Window Coverings
Foundation: Brick
Exterior: Aluminum siding

Services

Water: Municipal water
Sewer: Sanitary sewer

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

22d

Toronto (Mimico) listings, avg age

57d

Price / ft²

$843

List price

$759K

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 2-bed single family in Toronto (Mimico) has been listed for 22 days, which is 35 days fresher than the city average of 57. Act while there is still low competition.

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Listed by RE/MAX PROFESSIONALS INC. · CLAUDIA FLAMMINI

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (M8Z)

This home lists at $759,000, about 6.8× the local median household income of $111,000.

Carrying it typically needs a household income of about $148,259 (20% down, 25-yr amortization, stress-tested) — roughly 34% above the area median.

Median household income: $111,000
Population: 19,312
Median age: 40.4
Owner / renter: 80% / 20%
Avg. household size: 2.5

Source: Statistics Canada, 2021 Census (FSA M8Z)

$759,000· $843/ft²

For sale

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Full Cost Breakdown

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Down Payment6.71% · $50,900

Min 6.71%50%

Mortgage payment$3,926/mo

↳ CMHC premium ($28,324 capitalized)

Property tax (est.)$322/mo

Total monthly$4,248

Cash Needed to Close

Down payment (6.71%)$50,900

Land transfer tax$23,310

Est. closing costs$4,777

Total cash needed$78,987

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