123A Cavell Avenue
Mimico, Toronto
$1,350,000
A Rare Find In Mimico. Wide Lot Over 40ft in Width. Detached 2 Storey Home With Spacious 3Bedroom 3 Washroom And Double Car Garage. Finished Walk Out Basement. 2 Car Garage With Direct Entrance To Backyard. Large Drive Way Can Park 4 Cars. Recently Renovated Kitchen, Bathrooms. Walking Distance To TTC, GO Train, Shops And Restaurants.
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What the bank counts
This home's actual carrying costs, payment stress-tested at 6%
- Mortgage, tested at 6%
- $6,910
- Property tax
- $472
- Heat allowance
- $150
- Housing costs
- $7,532 / mo
Lenders cap these at 39% of gross income — that sets the number.
Income needed
$232,000
gross annual household income
- Payment at 4%
- $5,681 / mo
- Cash down
- $270,000
Assumes no other monthly debts · 25-yr amortization
Full affordability checkInvestment Analysis
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