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Listed 3 months ago

5214 Third Avenue

211 - Cherrywood, Niagara Falls

$695,000

Detached|2 1/2 Storey
5 | 3 | 8
About this home

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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BrokerHub Inc.
(647) 254-1864
TypeDetached
Style2 1/2 Storey
Approx. AgeNot available
Size3500-5000 sq. ft.
Property Tax$4,967
Lot Size70 ft x 124.7 ft
mls© NumberX13577046
Listed ByHOMELIFE/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.

Down payment20% · $139,000
25-yr amortization

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 check

Investment Analysis

Estimated rent, cap rate and monthly cash flow for this property

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