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Mimico, Toronto
$1,299,000
Fully renovated 3-storey freehold semi in Mimico, approx. 2,015 sq ft above grade (MPAC) plus a partially finished basement. 3 bedrooms, 3 baths, 1 office, built-in garage plus driveway. Open-concept second floor: kitchen with centre island, breakfast nook and stainless appliances, powder room, walk-out to the upper deck, dining area and family room with a slat feature wall, pot lights and designer fixtures. Third floor: primary with walk-in closet and 4-piece ensuite with double sinks, second bedroom, office and a 3-piece bath with a walk-in shower. Main floor: third bedroom/office behind black-framed glass doors, with gas fireplace and walk-out to the lower deck. Two-tier deck for entertaining. Hardwood throughout, oak stairs with metal spindles, full house renovation done in 2021. Partially finished basement with den and laundry. 10-minute walk to Mimico GO; minutes to the QEW, Hwy 427, TTC, waterfront trails, parks, shops and schools.
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What the bank counts
This home's actual carrying costs, payment stress-tested at 6%
- Mortgage, tested at 6%
- $6,649
- Property tax
- $437
- Heat allowance
- $150
- Housing costs
- $7,236 / mo
Lenders cap these at 39% of gross income — that sets the number.
Income needed
$223,000
gross annual household income
- Payment at 4%
- $5,466 / mo
- Cash down
- $259,800
Assumes no other monthly debts · 25-yr amortization
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