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New3 hours ago

5881 Delle Donne Drive

Churchill Meadows, Mississauga

$999,900

Semi-Detached |2-Storey
3 | 4 | 3
About this home

LIVE IN YOUR OWN HOME WHILE RENTAL INCOME HELPS COVER YOUR MORTGAGE! Churchill Meadows, Mississauga Why pay a mortgage without rental assistance when you can live in a beautiful home and receive rental income to help with your payments? Welcome to this well-maintained family home in a highly desirable neighbourhood, surrounded by excellent schools and convenient amenities. Property Features3+1 bedrooms4 washrooms Separate living room and family room with fireplace Over 1,600 sq. ft. above grade Elegant double-door entrance Legal, City-approved one-bedroom basement apartment?? Rental Income That Makes a Difference!? Upper level: $2,800/month plus utilities? Legal basement: $1,500/month plus a share of utilities Total Rental Income: $4,300/month | $51,600/year?? Live Upstairs. Collect Rent. Help Pay Your Mortgage! For illustration, this rental income could help support the payments on approximately $300,000 of mortgage financing, depending on interest rates, amortization and lender qualification. The current tenants are cooperative and would like to stay, offering potential rental continuity for the next owner. The legal basement apartment may also help with mortgage qualification, subject to the lender's requirements and assessment of rental income.?? Opportunities like this deserve your attention! Flexible sellers. A sought-after location. A legal basement apartment. Rental income from two living spaces.?? Build your future. Let rental income help along the way.

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agent
Jonathan Lee
(647) 983-0770
TypeSemi-Detached
Style2-Storey
Approx. AgeNot available
Size1500-2000 sq. ft.
Property Tax$6,732
Lot Size22.47 ft x 104.92 ft
mls© NumberW14012158
Listed ByHOMELIFE/MIRACLE REALTY 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%
$5,118
Property tax
$561
Heat allowance
$150
Housing costs
$5,829 / mo

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

Down payment20% · $199,980
25-yr amortization

Income needed

$179,000

gross annual household income

Payment at 4%
$4,208 / mo
Cash down
$199,980

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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