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New3 hours ago

116A Melrose Street

Mimico, Toronto

$999,116

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

Welcome to 116A Melrose St in the heart of highly desirable Mimico! A wonderful canvas awaiting your personal style! This home offers a solid layout and great bones, ready for you to bring your own design ideas, updates, and custom finishes. Featuring 3+1 bedrooms, 3 bathrooms, and a partly finished basement with walk out, this property is packed with potential. The main levels offer 3 bedrooms and generous storage space throughout. The lower level features direct walk out access, along with a 4th bedroom and a full bathroom, ideal for a guest space, home office, or potential secondary suite. Unbeatable location on a quiet street just minutes from the Mimico GO Station, Lake Ontario waterfront trails, top rated schools, and quick highway access to Downtown Toronto. Property requires some updates and is priced accordingly. An extraordinary chance for renovators, investors, or end-users to build massive equity in South Etobicoke!

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agent
Jonathan Lee
(647) 983-0770
TypeSemi-Detached
Style2-Storey
Approx. AgeNot available
Size1500-2000 sq. ft.
Property Tax$4,467
Lot Size25 ft x 33 ft
mls© NumberW14109152
Listed ByROYAL LEPAGE SIGNATURE REALTY

Listing History

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  • 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%
$5,114
Property tax
$372
Heat allowance
$150
Housing costs
$5,636 / mo

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

Down payment20% · $199,823
25-yr amortization

Income needed

$173,000

gross annual household income

Payment at 4%
$4,204 / mo
Cash down
$199,823

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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