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211 - Cherrywood, Niagara Falls
$695,000
Welcome to 5214 Third Avenue! This magnificent 4, 000-square-foot residence sits proudly on an impressive 125' x 70' corner lot, offering unparalleled curb appeal, expansive outdoor space, and three levels of sophisticated family living. The exterior features a rare, massive parking setup, including a detached two-car garage for secure storage and a large private driveway that easily accommodates six additional vehicles. The main floor is a masterclass in functional design, centered around a grand living area that serves as the perfect heart of the home for large family gatherings. A gourmet kitchen flows seamlessly into the dining room for effortless hosting, while a sun-drenched sunroom provides a serene sanctuary looking out over your massive yard. This main level also includes a private study room, ideal for professionals working from home, and a highly coveted mudroom transition space to keep the busy household organized. The upper levels offer unmatched privacy and layout flexibility. The second floor serves as a dedicated family retreat featuring four generous, bright bedrooms with excellent closet storage and two well-appointed full washrooms. Ascending to the private third-floor retreat, you will find an incredible bonus level complete with an open-concept loft-perfect for a media room or kids' play area-and a fifth private bedroom featuring its own attached washroom. With five bedrooms, three bathrooms, a dedicated office, and rare parking capacity, this corner-lot property is an exceptional find. This premium property is a goldmine for savvy investors, builders, and developers, boasting incredible fourplex conversion potential alongside the rare opportunity for a future lot severance. Buyers are to do their own due diligence regarding severance possibilities.
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| Type | Detached |
| Style | 2 1/2 Storey |
| Approx. Age | Not available |
| Size | 3500-5000 sq. ft. |
| Property Tax | $4,967 |
| Lot Size | 70 ft x 124.7 ft |
| mls© Number | X13577046 |
| Listed By | HOMELIFE/MIRACLE REALTY LTD |
Listing History
- No recent sale history for this listing.
- No recent lease history for this listing.
Could you afford this home?
What the bank counts
This home's actual carrying costs, payment stress-tested at 6%
- Mortgage, tested at 6%
- $3,557
- Property tax
- $414
- Heat allowance
- $150
- Housing costs
- $4,121 / mo
Lenders cap these at 39% of gross income — that sets the number.
Income needed
$127,000
gross annual household income
- Payment at 4%
- $2,925 / mo
- Cash down
- $139,000
Assumes no other monthly debts · 25-yr amortization
Full affordability checkInvestment Analysis
Estimated rent, cap rate and monthly cash flow for this property
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