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Listed 2 months ago

1083 Melton Drive

Lakeview, Mississauga

$1,147,000

Detached|Bungalow
3 | 2 | 5
About this home

Rarely does a home carry 56 years of one family's care into its next chapter. From the front patio where neighbours still know each other by name, to a mature and lovingly-tended garden that takes years to grow and simply cannot be bought, this home has been lived in, looked after, and genuinely loved across 2 generations. A rose bush on the side of the house has been rooted there since the home was built, and a section of the backyard has produced the family's own vegetables for years - the kind of garden a future family inherits along with the keys. Inside: over 2,400 SF total living space, 8' ceilings and an oversized picture window that frames the front yard like a canvas, flooding the living space with natural light and a quiet connection to one of Mississauga's most beloved streets. 3 generously-sized bedrooms are served by a compartmentalized 3-piece semi-ensuite with a separate water closet. The oversized eat-in kitchen offers abundant cabinetry, generous counter space, room for a full eat-in breakfast area, and the increasingly-rare charm of a window above the sink - a small detail that speaks to an era when homes were built to be lived in, not just sold. The fully-finished lower level is a home within a home: a sprawling family room anchored by a wood-burning fireplace, a kitchen, a 3-piece bathroom, a bedroom, and a private side entrance that has the potential to make the space entirely self-contained. Ideal to enjoy now for a growing family, multigenerational living; or potential* for income unit, legal suite or a future 2nd-storey on this generous 50 x 125 ft lot. The infrastructure is already in place - the vision is yours entirely. Melton Drive has been one of Mississauga's most enduring and sought-after addresses since the 1950s, and it has never stopped earning that reputation. Top-rated schools, lake trails, parks, Sherway Gardens retail, & QEW access all within easy reach. This one is entrusted, not just listed. [*buyers conduct own due diligence]

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agent
Milad Momtaz Azad
(647) 510-8858
TypeDetached
StyleBungalow
Approx. AgeNot available
Size1100-1500 sq. ft.
Property Tax$7,034
Lot Size50 ft x 125.82 ft
mls© NumberW13418336
Listed ByRE/MAX REALTY ENTERPRISES 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%
$5,871
Property tax
$586
Heat allowance
$150
Housing costs
$6,607 / mo

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

Down payment20% · $229,400
25-yr amortization

Income needed

$203,000

gross annual household income

Payment at 4%
$4,827 / mo
Cash down
$229,400

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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