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Listed 3 months ago

14 Elson Drive

Dovercliffe Park/Old University, Guelph

$889,000

Detached|Bungalow-Raised
3 | 3 | 4
About this home

Beautiful raised bungalow offering exceptional flexibility for families, investors, and first-time buyers. Ideally located just minutes from the University of Guelph, this home presents an outstanding opportunity for families with university-aged children, savvy investors seeking strong rental potential, or young couples looking to offset their mortgage with additional income.The bright and spacious main level features three generous bedrooms with the primary bedroom offering a large walk-in closet and a 3 piece bathroom. Gleaming hardwood floors throughout, and a large family-sized eat-in kitchen designed for everyday living and entertaining. You'll love the abundance of cabinetry and expansive counter space, along with the oversized breakfast area that walks out to the backyard. The fully finished lower level offers incredible versatility with a separate entrance, a self-contained basement apartment featuring an additional bedroom, 2nd kitchen, and a warm, inviting room/ dining room complete with a cozy gas fireplace. Whether used for extended family, student accommodations, or as an income-generating rental suite, this space adds tremendous value and flexibility.Parking is never a concern with an oversized driveway accommodating three vehicles, plus an attached two-car garage, providing a total of five parking spaces. Offering hardwood flooring throughout, a functional layout, excellent income potential, and a highly desirable location close to the University of Guelph, schools, parks, shopping, and major amenities, this home is a rare opportunity that combines comfortable family living with outstanding investment potential. Legal 1 bedroom basement apartment.

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agent
Jonathan Lee
(647) 983-0770
TypeDetached
StyleBungalow-Raised
Approx. Age31-50
Size1100-1500 sq. ft.
Property Tax$5,798
Lot Size47.57 ft x 111.26 ft
mls© NumberX13529378
Listed ByRE/MAX REALTY SPECIALISTS INC.

Listing History

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

Could you afford this home?

What the bank counts

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

Mortgage, tested at 6%
$4,550
Property tax
$483
Heat allowance
$150
Housing costs
$5,183 / mo

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

Down payment20% · $177,800
25-yr amortization

Income needed

$159,000

gross annual household income

Payment at 4%
$3,741 / mo
Cash down
$177,800

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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