$2,249,000 - 2531 Morrison Avenue, Mississauga
Detached for Sale in Mississauga
38 days on market- MLS Number
- W13106760
- Property Type
- Detached
- Status
- active
- Days on Site
- 38
- Bedrooms
- 7
- Bathrooms
- 6
- Square Feet
- 3,000 - 3,499 sqft
- Neighbourhood
- Mississauga
- Listing Brokerage
- ROYAL LEPAGE REAL ESTATE SERVICES LTD.
Rare Opportunity in Highly Sought-After Huron Park! Fully Renovated Executive Detached Home Featuring Two Legal Self-Contained Basement Apartments Generating Approximately $4,000 Per Month ($48,000 Annually) in Rental Income. Ideal for families seeking mortgage-helper income, multi-generational living, or investors looking for a turnkey asset in one of Mississauga's most established neighborhoods. Situated on an exceptional 48 x 200 ft premium lot, this extensively updated home offers the perfect blend of lifestyle, flexibility, and long-term value. The legal income suites provide an exceptional opportunity to offset carrying costs while maintaining privacy and flexibility for owner-occupants. The main and upper levels showcase a beautifully renovated kitchen with custom cabinetry, a center island, a designer backsplash, modern lighting, engineered hardwood flooring, updated bathrooms, and fresh paint throughout. Major upgrades include an updated furnace, electrical panel, garage doors, window glass, custom blinds, lighting, and numerous additional improvements throughout the home. The two legal self-contained apartments with separate entrances provide immediate income potential while offering flexibility for extended family or multi-generational living. Conveniently located minutes from QEW, Highway 403, Square One, transit, schools, parks, and community amenities. Situated on a rare deep lot with future potential (buyer to conduct own due diligence). A turnkey opportunity combining luxury living, built-in income, and exceptional long-term value in a mature, high-demand Mississauga neighborhood. Thoughtfully designed with Vastu principles.
Estimate your monthly payments for this property
Estimated Payment
$9,948.09/mo
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 Mississauga
Mississauga 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 Mississauga
- •Convenient location in Mississauga
- •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
Mississauga 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.
2531 Morrison Avenue, Mississauga
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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 $750/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.
Market Position
At 38 days on site, this property has had reasonable exposure. It hasn't sold immediately (which often indicates overpricing), but isn't languishing either. There's likely room for a 3-5% negotiation from asking price.
Detached Home Advantages
Detached homes in Mississauga are increasingly scarce and valuable. You'll have no shared walls, full control over renovations, and typically stronger appreciation. Consider the lot size and potential for future additions or basement apartment income. Detached homes also offer the most flexibility for growing families.
Larger Home Realities
At 3,000 sqft, this is a substantial home. Budget approximately $400-600/month more for utilities compared to an average-sized home. Maintenance costs scale with size too - roof, HVAC, and cleaning all cost more. That said, space is a luxury that's hard to add later, and larger homes often have better resale in family-oriented neighbourhoods.
Excellent Flexibility
With 7 bedrooms, you have genuine flexibility. Beyond the master and kids' rooms, you can have a dedicated home office, guest room, hobby space, or even rental income potential. In today's work-from-home era, extra bedrooms add significant value. Properties with 5+ bedrooms are relatively rare in Mississauga.
Bathroom Count Matters
With 6 bathrooms, morning routines are much smoother. Multiple bathrooms significantly improve daily livability and are a major selling point for resale. Buyers consistently pay more for adequate bathroom counts - this is a strong feature.