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316 - 120 Varna Drive
Englemount-Lawrence, Toronto
$389,000
Excellent layout featuring a separate, enclosed bedroom with a door and a rare, spacious south-facing terrace. Enjoy sunshine throughout the day, outdoor entertaining, or growing your own urban garden. A phenomenal location just steps from TTC, Yorkdale Mall, and major retailers, with convenient access to Highway 401. A compelling opportunity to secure a sought-after combination of functional indoor space, generous outdoor living, and exceptional convenience at today's prices. Tenanted until the end of December, with vacant possession available thereafter. ***The first four images are virtually staged.***
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What the bank counts
This home's actual carrying costs, payment stress-tested at 6%
- Mortgage, tested at 6%
- $1,991
- Property tax
- $162
- Heat allowance
- $150
- Condo fees, half counted
- $199
- Housing costs
- $2,502 / mo
Lenders cap these at 39% of gross income — that sets the number.
Income needed
$77,000
gross annual household income
- Payment at 4%
- $1,637 / mo
- Cash down
- $77,800
Assumes no other monthly debts · 25-yr amortization
Full affordability checkInvestment Analysis
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