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Listed 1 month ago

41 Algoma Street

Mimico, Toronto

$1,849,999

Detached|2-Storey
4 | 5 | 2
About this home

Welcome to 41 Algoma Street - Newly Constructed, Never-lived-in home situated on a thoughtfully redeveloped lot, offering modern comfort, generous space, and exceptional versatility. This expansive residence features 9-foot ceilings on the main floor, enhancing a beautifully designed layout that seamlessly blends everyday living with elegant entertaining. Enjoy a bright and inviting living room, a spacious family room, a formal dining area, and a sun-filled breakfast space. Large windows throughout flood the home with natural light, creating a warm and welcoming atmosphere. With 4 generously sized bedrooms and 5 well-appointed washrooms, this home is perfectly suited for families of all sizes. Each space is designed with comfort and functionality in mind. A beautifully finished basement featuring a self-contained secondary suite with a separate entrance and private laundry. Boasting impressive 10-foot ceilings, this bright and spacious area ideal for In-Law living or generating additional rental income. Located in a highly desirable and convenient neighborhood, the home is surrounded by top-rated schools, making it an excellent choice for families. Commuters will appreciate easy access to major highways and transit routes. Nature lovers will enjoy being just minutes from Humber Bay Park and Park Lawn Park, perfect for walking, cycling, and outdoor activities. Everyday essentials, shopping, and dining are all close at hand along the vibrant Queensway corridor, making daily living both convenient and enjoyable. This home presents a rare opportunity to own a thoughtfully designed, move-in-ready property in an outstanding location. This home also comes with an approved permit for a Garden Suite, offering future potential for additional living space, extended family accommodation, or supplemental rental income. 100A ,240 V electrical rough-in has been installed from main panel to the rear of the property, for a future Pool, Hot tub, or Heavy -Duty equipment in the shed.

Extras

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agent
Milad Momtaz Azad
(647) 510-8858
TypeDetached
Style2-Storey
Approx. AgeNot available
Size2000-2500 sq. ft.
Property Tax$3,793
Lot Size25 ft x 100.5 ft
mls© NumberW13498022
Listed ByRE/MAX REALTRON REALTY 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%
$9,351
Property tax
$316
Heat allowance
$150
Housing costs
$9,817 / mo

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

Down payment21% · $388,500
25-yr amortization

Income needed

$302,000

gross annual household income

Payment at 4%
$7,688 / mo
Cash down
$388,500

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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