$760,000 - 1556 Lancaster Drive Unit 72, Oakville
Condo for Sale in Oakville
55 days on market- MLS Number
- W13031528
- Property Type
- Condo
- Status
- active
- Days on Site
- 55
- Bedrooms
- 3
- Bathrooms
- 2
- Square Feet
- 1,000 sqft
- Neighbourhood
- Oakville
- Locker
- None
- Exposure
- North East
- Balcony
- None
- Listing Brokerage
- EXP REALTY
Upper Oakville, fully renovated, move-in ready. Unit 72 at 1556 Lancaster Drive is a 3-bedroom townhouse that's been thoughtfully updated throughout, a strong fit for first-time buyers entering the Oakville market and for downsizers who want quality finishes without the maintenance of a detached home.The main floor is open-concept with smooth ceilings, crown moulding, pot lights, updated flooring, new baseboards, and fresh neutral paint. The living and dining area overlooks a partially fenced backyard with a stone patio backing onto mature treed greenspace, a rare find at this price point.The updated kitchen features professionally refinished cabinetry with new quartz countertops, new subway tile backsplash, undermount stainless steel sink, and stainless steel appliances.Upstairs, three spacious bedrooms share a renovated 4-piece main bathroom. The primary bedroom includes a walk-in closet. A new oak staircase with metal spindle railing and new broadloom on the upper and lower stairs add to the polished finish.The finished basement extends the living space with new LED lighting and a renovated 2-piece bathroom, ideal for a recreation room, home office, or guest space. One garage parking space plus one driveway space.Walk to parks and trails. Minutes to Oakville Place, Metro, restaurants, and the QEW for commuting east or west.
Estimate your monthly payments for this property
Estimated Payment
$3,899.19/mo
Includes CMHC insurance ($21,204)
5-yr fixed avg.
Rates shown are estimates based on typical Ontario 5-year fixed rates. Canadian mortgages use semi-annual compounding as required by law. CMHC insurance applies to purchases under $1.5M with less than 20% down. Estimated property tax uses an approximate 0.85% rate. Contact us for current rate options and pre-approval.
Discover Oakville
Oakville is a vibrant community in the Greater Toronto Area, offering excellent amenities, schools, and transportation options. This area is popular with families and professionals seeking a balanced lifestyle with access to urban conveniences and natural spaces.
Why Live in Oakville
- •Convenient location in Oakville
- •Access to local shops and dining
- •Good public transit connections
- •Community parks and green spaces
- •Well-maintained neighbourhoods
Nearby Schools
Transit & Commuting
- •MiWay bus routes throughout the area
- •GO Transit stations within driving distance
- •Easy highway access to 401/403/QEW
- •Walking distance to local amenities
Parks & Amenities
- •Local parks and recreational facilities
- •Community centres
- •Shopping plazas nearby
- •Restaurants and cafes
Lifestyle & Community
Oakville offers a wonderful quality of life with a mix of residential charm and urban convenience. Residents enjoy easy access to schools, parks, and shopping, making it an ideal location for families and professionals alike.
1556 Lancaster Drive Unit 72, Oakville
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Monthly Cash Flow Breakdown
Note: These are estimates only. Actual figures may vary based on market conditions, property condition, and other factors. Consult with a financial advisor for personalized advice.
Joe's Thoughts
Honest perspective from 30+ years of GTA real estate experience
Competitive Pricing
At $760/sqft, this is priced below the area average. This could represent genuine value, but let's investigate why. In my experience, underpriced homes often have deferred maintenance, unfavourable layouts, or motivated sellers. I'll help you determine which it is.
Negotiation Opportunity
At 55 days on site, this property has exceeded the typical selling timeline for Oakville. This creates leverage for buyers. The seller may be motivated by carrying costs, life circumstances, or previous deals falling through. I'd recommend a strategic offer below asking with terms that favour you.
Condo Considerations
For condos, I always review the status certificate thoroughly. Key things I look for: reserve fund health (should be well-funded), any upcoming special assessments, rules that might affect your lifestyle (pets, rentals, renovations), and the corporation's financial statements. We'll want to verify the monthly fees and what they include.
Starter Home Potential
3 bedrooms works well for couples planning families or small families with one child. Consider whether you might outgrow the space in 5-7 years. If so, factor in potential moving costs when making your decision. Alternatively, some buyers convert a bedroom to an office and make it work long-term.
Oakville Premium
Oakville commands premium prices for good reasons: top-rated schools, waterfront access, charming downtown, and affluent community. Homes here hold value exceptionally well during market corrections. The trade-off is higher property taxes and home prices. If schools and lifestyle are priorities, Oakville delivers.
Investment Perspective
Looking at this as an investment: Oakville properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $3,167 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.