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New3 hours ago

1072 Orchard Road

Lakeview, Mississauga

$1,178,000

Detached|1 1/2 Storey
3 | 3 | 4
About this home

This beautifully updated family home presents a rare opportunity, ideally set on an expansive 50' x 200' lot in the highly sought-after Lakeview neighbourhood of South Mississauga. Renovated in 2018 the home offers comfortable, flexible living for growing families, first-time buyers or those looking for a home with room to evolve. A separate basement apartment provides the added benefit of rental income or private living space for extended family. Estimated basement rental income of $1700.00 per month. Enjoy the best of Lakeview living with the waterfront, parks, trails, marinas and golf courses nearby, along with excellent schools, shopping, restaurants and everyday amenities. The exciting Lakeview Village redevelopment is just minutes away, while convenient access to the QEW, Highways 427 and 403, and both Long Branch and Port Credit GO Stations makes commuting throughout the GTA easy. Adding to the home's appeal is the exceptional size of the property and the flexibility it provides over time. Surrounded by an increasing number of luxury custom homes and zoned RL, the lot may accommodate approximately 4,000 sq. ft. of above-grade living space, subject to City of Mississauga approvals, offering the option to build a substantial custom residence in the future. A move-in-ready home with income or extended-family potential today, and an exceptional lot offering with even more possibilities for tomorrow.

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agent
Jonathan Lee
(647) 983-0770
TypeDetached
Style1 1/2 Storey
Approx. AgeNot available
Size1100-1500 sq. ft.
Property Tax$6,995
Lot Size50 ft x 200 ft
mls© NumberW13786602
Listed ByRoyal LePage Real Estate Associates

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%
$6,030
Property tax
$583
Heat allowance
$150
Housing costs
$6,762 / mo

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

Down payment20% · $235,600
25-yr amortization

Income needed

$208,000

gross annual household income

Payment at 4%
$4,957 / mo
Cash down
$235,600

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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