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Listed 1 month ago

1083 Melton Drive

Lakeview, Mississauga

$1,125,000

Detached|Bungalow
3 | 2 | 5
About this home

If you need room for two generations under one roof, or you want a solid Lakeview bungalow on a 50' x 125' lot to make your own, 1083 Melton Drive gives you plenty to work with. The same family has cared for it for 56 years, and the house has been looked after rather than gutted, so you can move in as it is and update on your own schedule. Original hardwood runs across the main floor, under 8' ceilings. The living room has a large south-facing window that brings in light through the middle of the day. The eat-in kitchen is its own room, with 2 windows and space for a breakfast table. Since it's separate, the pots and noise stay out of the dining room when you're hosting. There are 3 bedrooms on the main floor, and the primary shares a renovated 3-piece semi-ensuite with a separate water closet. Downstairs works almost as its own home, with a second kitchen, a 3-piece bath, a fourth bedroom, a family room with a wood-burning fireplace, and a side entrance. That setup suits a parent or an adult child now, and could support a second unit later, subject to City approval. Altogether, there's about 2,400 sq ft of finished space over both levels. Out back, the garden took decades to grow: a rose bush planted the year the house was built, mature plantings for shade and privacy, and a vegetable bed that has produced for years. A built-in garage and a private double driveway give you parking for 5. Sherway Gardens, the QEW, and the waterfront trails are all a short drive away. A pre-listing home inspection is available on request. Furnace and AC owned; hot water tank rental. Flexible closing.

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agent
Macallum Tepsich
(647) 326-2579
TypeDetached
StyleBungalow
Approx. AgeNot available
Size1100-1500 sq. ft.
Property Tax$7,034
Lot Size50 ft x 125.82 ft
mls© NumberW13735836
Listed ByRE/MAX REALTY ENTERPRISES INC.

Listing History

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  • No recent lease history for this listing.

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What the bank counts

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

Mortgage, tested at 6%
$5,758
Property tax
$586
Heat allowance
$150
Housing costs
$6,494 / mo

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

Down payment20% · $225,000
25-yr amortization

Income needed

$200,000

gross annual household income

Payment at 4%
$4,734 / mo
Cash down
$225,000

Assumes no other monthly debts · 25-yr amortization

Full affordability check

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