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C$2,350,000

reducedC$

881 The Greenway , Mississauga, Ontario, L5G 1P7

bedrooms 4 Bedroom
|
washrooms 4 Bathroom
|
garages 2 Garage

MLS - #W12017587

FOR Sale

Description

Welcome to 881 The Greenway, a stunning 4+1 home set on a serene lot backing onto the picturesque Adamson Estate Park, just moments to the lake! This elegant property, situated on a large 70 x 135 ft. beautifully landscaped lot, offers privacy, gorgeous scenery, and is located in the lakeside community of Lakeview. The bright freshly painted interior features oak hardwood flooring, a spacious layout with an abundance of natural light, vaulted and coffered ceilings and crown moulding. The large gourmet kitchen boasts Corian countertops, a walk-in pantry and overlooks a warm and inviting sunroom. The cozy fireplaces in the family and dining rooms complete the charming and relaxing setting. The upper level offers three generous bedrooms, including a primary suite with a walk-in closet, balcony, and spa-like ensuite with a jacuzzi tub. A versatile main-floor bedroom/den adds flexibility, while the fully finished walkout basement includes a large recreation room, a cold cellar, and a one-bedroom apartment with a full kitchen, bathroom, and private entrance- ideal for extended family or rental income. The oversized two-car garage features 11' ceilings and can be utilized as a convenient workshop. Enjoy a beautiful private backyard filled with mature trees, a lovely pond, a two-level deck and a spacious interlock stone patio- a perfect sunlit escape with the upcoming warm Spring weather! Located just steps from Adamson Estate Waterfront Park, the Lakefront Trail, and Lake Ontario, this exceptional home is also minutes from a marina, beach, restaurants, shopping, and the Port Credit GO Station. This is a rare opportunity to enjoy privacy, luxury, and convenience in a prime lakeside community!

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Property type

Detached

Style

2-Storey

Community

Lakeview

Lot size

9,558 Sqft

Garage spaces

2

Home Overview

Basement information

Fin W/O, Sep Entrance

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Mls® #

W12017587

Building size

2500-3000

Status

Active

Property sub type

Taxes

$13,783

Tax year

2024

Maintenance fee

N/A

Year built

--

Interior

# total bathrooms

4

# Full baths

4

# of above grade bedrooms

4

# of rooms

11

Family room available

Yes

Laundry information

Exterior

Construction materials

Stucco/Plaster

Other structures

# garage spaces

2

# parking spaces

4

Garage features

Attached

Has basement (y/n)

Yes

Has garage (y/n)

Yes

Drive

Private

Amenities / Utilities

Cooling

Central Air

Heat source

Gas

Heat type

Forced Air

Sewers

Sewers

Location

Water source

Municipal

Area

Peel

Community

Lakeview

Community features

Fenced Yard, Lake/Pond, Park, Public Transit, School, Wooded/Treed

Directions

Lakeshore Road E. & Enola

walking  Walk Score for 881 The Greenway

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4. Choose a mortgage term (typically 5 years in Canada) and amortization period (usually 25-30 years).

5. Determine the interest rate (check current rates from Canadian lenders).

6. Use a mortgage calculator or formula to determine the monthly payment based on the mortgage amount, interest rate, and amortization period.

7. Factor in additional costs like property taxes, home insurance, and possibly mortgage insurance if the down payment is less than 20%.

8. Consider the impact of making accelerated bi-weekly payments instead of monthly payments to pay off the mortgage faster.

9. Review the total interest paid over the life of the mortgage.

10. Ensure the monthly payments fit within your budget, typically not exceeding 32% of your gross monthly income for housing costs.

Terms Explained

Home Value: The current market value or purchase price of the property.

Down Payment: The initial upfront portion of the total home purchase price paid by the buyer.

Mortgage Amount: The amount borrowed from a lender to purchase the home (Home Value minus Down Payment).

Interest Rate: The percentage charged by the lender for borrowing the money, usually expressed as an annual rate.

Mortgage Term: The length of time your mortgage agreement and interest rate are in effect (typically 1-5 years in Canada).

Amortization Period: The total length of time it will take to pay off the entire mortgage (usually 25-30 years in Canada).

Monthly Payment: The amount paid each month towards the mortgage, including principal and interest.

Principal: The original amount borrowed, which decreases as payments are made.

CMHC Insurance: Mortgage default insurance required for down payments less than 20% of the home's value.

Property Taxes: Annual taxes levied by local governments based on the property's assessed value.

Home Insurance: Coverage to protect the property against damage or loss.

Land Transfer Tax: A tax paid to the provincial government when purchasing a property.

Closing Costs: Additional expenses incurred when finalizing a home purchase (legal fees, inspections, etc.).

Prepayment Privileges: Options to pay extra towards the mortgage without penalties.

Fixed Rate Mortgage: A mortgage where the interest rate remains constant for the term.

Variable Rate Mortgage: A mortgage where the interest rate can fluctuate based on the prime rate.

Refinancing: The process of replacing an existing mortgage with a new one, often to take advantage of better terms or rates.

These terms are commonly used in mortgage calculations and discussions about home financing in Canada.
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