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Listed 12 days ago

53 Milford Haven Drive N

Morningside, Toronto

$1,079,990

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

A smart financial move for buyers! Live upstairs while the two self-contained basement suiteshave the potential to generate up to $3,500/month in rental income (subject to marketconditions), helping offset a significant portion of your mortgage and making homeownershipmore affordable.Beautifully renovated detached bungalow in a highly desirable, family-friendly Scarboroughneighbourhood! This move-in-ready home features 3 spacious bedrooms on the main floor,hardwood flooring throughout, and a modern kitchen with quartz countertops, pot lights, andstylish finishes. Major updates include a new furnace, new central A/C, and a new roof foradded peace of mind.The professionally finished basement with a separate entrance offers two self-contained suites(2-bedroom + 1-bedroom), providing exceptional flexibility for rental income, extended family,or multi-generational living.Ideally located just minutes from Centennial College, the University of Toronto ScarboroughCampus, Highway 401, TTC, schools, parks, shopping, and everyday amenities. A rare opportunityoffering modern living, outstanding income potential, and exceptional long-term value

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agent
Angela Montano
(647) 283-2643
TypeDetached
StyleBungalow-Raised
Approx. Age51-99
Size700-1100 sq. ft.
Property Tax$3,657
Lot Size96.36 ft x 45 ft
mls© NumberE13649084
Listed ByRE/MAX COMMUNITY REALTY INC.

Listing History

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

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Could you afford this home?

What the bank counts

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

Mortgage, tested at 6%
$5,528
Property tax
$305
Heat allowance
$150
Housing costs
$5,983 / mo

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

Down payment20% · $215,998
25-yr amortization

Income needed

$184,000

gross annual household income

Payment at 4%
$4,545 / mo
Cash down
$215,998

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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