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Listed 1 month ago

5965 River Grove Avenue

East Credit, Mississauga

$1,599,900

Detached|2-Storey
5 | 5 | 5
About this home

Absolutely stunning 5-bedroom detached home offering over 4,000 sq ft of bright, spacious living in the highly desirable River Grove community. Situated in one of the area's most sought-after neighborhoods, this property is a legal two-dwelling unit and is conveniently close to top-rated schools, community centres, public transit, and Heartland Town Centre. The main level showcases elegant hardwood flooring and a versatile den for a home office alongside generously sized principal rooms designed for comfortable family living. Extensive upgrades have been completed, including a renovated main floor with new flooring and kitchen appliances, a new roof, modern light fixtures, updated stairs, and a newly finished driveway. The basement is thoughtfully configured with two self-contained units: a 2-bedroom apartment and a 1-bedroom studio, each featuring its own kitchen and washroom, along with a separate shared laundry area. Both units are currently leased, generating strong rental income (over $3,500 per month), an excellent opportunity for investors or multi-generational living. A rare chance to own a turnkey property with significant income potential in a prime location.

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agent
Jonathan Lee
(647) 983-0770
TypeDetached
Style2-Storey
Approx. AgeNot available
Size3000-3500 sq. ft.
Property Tax$8,798
Lot Size57.03 ft x 113.85 ft
mls© NumberW13505648
Listed ByCENTURY 21 PEOPLE`S CHOICE REALTY INC.

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%
$8,189
Property tax
$733
Heat allowance
$150
Housing costs
$9,072 / mo

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

Down payment20% · $319,980
25-yr amortization

Income needed

$279,000

gross annual household income

Payment at 4%
$6,733 / mo
Cash down
$319,980

Assumes no other monthly debts · 25-yr amortization

Full affordability check

Investment Analysis

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

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