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C$635,000

reducedC$

250 Lett St, West Centre Town, Ontario, K1R 0A8

bedrooms 2 Bedroom
|
washrooms 2 Bathroom

MLS - #X12025786

FOR Sale

Description

This modern 2-bedroom 2 bathroom condo in the heart of LeBreton Flats presents an unparalleled opportunity to be part of one of Ottawa's most exciting neighborhoods, primed for significant growth and urban renewal. From your private balcony, enjoy breathtaking, unobstructed views of LeBreton Flats, the iconic War Museum, and the tranquil Ottawa River.Inside, the design maximizes space and light, featuring a contemporary kitchen equipped with stainless steel appliances and bonus pantry. Expansive floor-to-ceiling windows invite abundant natural light, creating a bright and airy atmosphere throughout. The primary bedroom, bathed in sunlight, includes a generous closet and ensuite with a sleek glass shower. The versatile second bedroom offers additional functionality, while a handy nook is the perfect space for a home office space. The 2nd 4-piece bathroom is conveniently located off the foyer. Living here means enjoying the best of both urban living and nature. With easy access to scenic walking and biking paths along the river, as well as the vibrant downtown core, you'll have the perfect balance of tranquility and city energy. The Pimisi LRT station is just minutes away, offering seamless transit to all parts of the city, while nearby parks, the War Museum, and annual events such as Bluesfest further enhance the appeal of this prime location.The building itself offers an array of amenities, including an indoor swimming pool, a well-equipped fitness center, a rooftop terrace with BBQ areas, in-suite laundry, underground parking, and a convenient storage locker. This condo offers a rare and exciting opportunity to invest in a thriving neighborhood with tremendous potential. With everything this unit and location have to offer, you won't want to miss your chance to experience it firsthand. Schedule your viewing today!

Last check for updates

Property type

Condo Apt

Style

Apartment

Community

4204 - West Centre Town

Lot size

0 Sqft

Garage spaces

N/A

Home Overview

Basement information

None, null

Virtual tour

Mls® #

X12025786

Building size

800-899

Status

Active

Property sub type

Taxes

$4,395

Tax year

2024

Maintenance fee

N/A

Year built

2024

Interior

# total bathrooms

2

# Full baths

2

# of above grade bedrooms

2

# of rooms

5

Family room available

No

Laundry information

Main

Exterior

Construction materials

Brick

Other structures

# garage spaces

N/A

# parking spaces

0

Garage features

Underground

Has basement (y/n)

Yes

Has garage (y/n)

Yes

Drive

Amenities / Utilities

Cooling

Central Air

Heat source

Gas

Heat type

Forced Air

Sewers

Location

Water source

Area

Ottawa

Community

4204 - West Centre Town

Community features

Clear View, Park, Public Transit, River/Stream, ,

Directions

Lett Street and Fleet Street

walking  Walk Score for 250 Lett St

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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%.

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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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