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Listed 1 month ago

2531 Morrison Avenue

Erindale, Mississauga

$1,999,999

Detached|2-Storey
4 | 6 | 8
About this home

Luxury living meets built-in income. This extensively renovated detached home features two legal self-contained basement apartments with separate entrances, offering estimated rental income potential of approxiamately $4,000/month, all situated on a rare 48x200 ft premium lot in one of Mississauga's most desirable neighbourhoods. Welcome to highly sought-after Huron Park, where this exceptional property offers the perfect blend of lifestyle, flexibility, and investment potential. The main and upper levels have been thoughtfully renovated and feature a modern kitchen with custom cabinetry, centre island and stylish backsplash, upgraded lighting, engineered hardwood flooring, updated bathrooms, and fresh paint throughout. The lower level offers exceptional flexibility for today's buyer, whether utilized for supplemental rental income, multi-generational living, accomodating extended family, or creating a private space for guests. Additional upgrades include an updated furnance, electrical panel, garage doors, window glass, light fixtures and custom blinds. Ideally located minutes from Highways 403 and QEW, Square One Shopping Centre, public transit, schools, parks and everyday amentities, Situated on a premium 48x200 ft lot , this property offers exceptional outdoor space and future potential, subject to buyer verification. A rare turnkey opportunity for families, investors, and those seeking a high-quality asset in one of Mississauga's most established and desirable communities.

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agent
Jonathan Lee
(647) 983-0770
TypeDetached
Style2-Storey
Approx. Age16-30
Size3000-3500 sq. ft.
Property Tax$10,825
Lot Size48 ft x 201 ft
mls© NumberW13484072
Listed ByROYAL LEPAGE REAL ESTATE SERVICES LTD.

Listing History

  • No recent sale history for this listing.
  • No recent lease history for this listing.

Schools

Could you afford this home?

What the bank counts

This home's actual carrying costs, payment stress-tested at 6%

Mortgage, tested at 6%
$10,237
Property tax
$902
Heat allowance
$150
Housing costs
$11,289 / mo

Lenders cap these at 39% of gross income — that sets the number.

Down payment20% · $400,000
25-yr amortization

Income needed

$347,000

gross annual household income

Payment at 4%
$8,416 / mo
Cash down
$400,000

Assumes no other monthly debts · 25-yr amortization

Full affordability check

Investment Analysis

Estimated rent, cap rate and monthly cash flow for this property

Values and trends

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