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Listed 3 months ago

42 Cumberland Drive

Port Credit, Mississauga

$4,988,000

Detached|1 1/2 Storey
5 | 4 | 6
About this home

A Rare Waterfront Opportunity In Prestigious Port Credit. Situated On An Exceptional Approx. 0.50 Acre Lakefront Property With Additional Riparian Water Lot Rights Of Approx. 0.90 Acres, Bringing The Total Property Area To Approx. 1.4 Acres, This Truly Unique Offering Features Breathtaking Panoramic Lake Ontario Views, Expansive Backyard Space, Private Shoreline Access, And Incredible Privacy. Surrounded By Multi-Million Dollar Waterfront Estates In One Of Mississauga's Most Coveted Lakefront Communities, This Property Presents Endless Potential For End-Users, Investors, Builders, Or Those Seeking A Luxury Waterfront Estate Setting. The Existing Residence Is Currently Habitable And Offers Immediate Use, Rental, Or Holding Potential While Future Plans Are Explored. Whether You Choose To Live In, Renovate, Or Build A Custom Dream Home, The Possibilities Here Are Exceptional. The New Embankment And Shoreline Improvements Near Completion, Further Enhancing The Long-Term Value And Enjoyment Of The Property.

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agent
Angela Montano
(647) 283-2643
TypeDetached
Style1 1/2 Storey
Approx. Age31-50
Size3000-3500 sq. ft.
Property Tax$31,429
Lot Size58 ft x 241.32 ft
mls© NumberW13208320
Listed ByRE/MAX ATRIUM HOME REALTY

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%
$25,531
Property tax
$2,619
Heat allowance
$150
Housing costs
$28,300 / mo

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

Down payment20% · $997,600
25-yr amortization

Income needed

$871,000

gross annual household income

Payment at 4%
$20,990 / mo
Cash down
$997,600

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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