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Price Change$639,900

5020 Mcrae Street

211 - Cherrywood, Niagara Falls

$624,999

Detached|2 1/2 Storey
4 | 3 | 5
About this home

Welcome to 5020 McRae Street, a character-filled single-family detached home offering approx. 1,780 sq. ft. above grade plus approx. 500 sq. ft. of finished basement space. The bright main floor features an inviting living room with a beautiful wood-burning fireplace and classic brick surround. The spacious kitchen offers white cabinetry, gas range, stainless steel dishwasher, built in microwave, ceramic tile backsplash, generous counter space, additional pantry cabinetry and a freestanding storage station. A 2-piece bath and main-floor laundry add everyday convenience, while updated light fixtures throughout give the home a fresh, modern feel. Upstairs are 3 bedrooms, a 4-piece bath and charming solarium. Continue up to the impressive fully finished loft, currently used as the primary bedroom. At approx. 400 sq. ft., it features a walk-in closet, additional hidden storage, space for a desk/work area and cozy reading nook, with plenty of room for a king-size bed and additional furnishings. Portable A/C included. The fully finished basement adds approx. 500 sq. ft. and features a family room, kitchen, bedroom, 3-piece bath with stand-up shower, laundry, LED pot lights, an operable awning-style window and separate exterior entrance-providing plenty of additional space for the household to enjoy. Outside, enjoy a fully fenced yard, 2-car garage, private double driveway and additional gravel parking. Pedestrian gates on both sides plus an exceptionally wide gated opening provide convenient backyard access for an RV, boat, trailer or larger equipment. TURNKEY OPTION: Sellers are open to selling the home fully furnished, including existing furniture and additional appliances, by separate negotiation. Furnishings are not included in the asking price.

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BrokerHub Inc.
(647) 254-1864
TypeDetached
Style2 1/2 Storey
Approx. AgeNot available
Size1500-2000 sq. ft.
Property Tax$4,022
Lot Size35 ft x 120 ft
mls© NumberX13869272
Listed ByROYAL LEPAGE NRC REALTY

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%
$3,199
Property tax
$335
Heat allowance
$150
Housing costs
$3,684 / mo

Lenders cap these at 39% of gross income — that sets the number.

Down payment20% · $125,000
25-yr amortization

Income needed

$113,000

gross annual household income

Payment at 4%
$2,630 / mo
Cash down
$125,000

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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