Our Mississauga crush this week might not awestruck you just from looking at the photos, but when we consider the investment and rental potential of this property, I think you may just change your tune.
In the most south west corner of Mississauga is 2631 Sherhill Drive Dr: a 3+2 bedroom, 2 bathroom, semi detached bungalow listed at $829,000.
Why do I love this home?
- Full (and renovated) basement apartment with separate entrance
- Newer floors, kitchen, bathrooms, potlights
- 30 ft lot
- In one of the last affordable neighbourhoods in south Mississauga (Clarkson)
- Short distance to Clarkson Go (which gets you downtown in 20 minutes on the express train)
- Close to the lake, parks, and gentrifying Lakeshore strip
The best part? Basement apartments in Clarkson are desirable, and profitable – they rent anywhere from $1650 a month to $1750 a month for a 2 br (depending on size and finishes).
Assuming a 20% down payment on an $829,000 purchase price + a 2.64% mortgage over a 25 year amortization – renting out this basement could mean reducing your monthly mortgage expenses to just under $1,500 a month.
How good is that basement apartment looking now?
Want to check it out? Let’s see it together.
2631 Sherhill Drive Dr
Listed by: Rajiv Sadana, Pace Realty Inc