$1,999,999 - 2531 Morrison Avenue, Mississauga
Detached for Sale in Mississauga
Popular ListingNeighbourhood: Erindale
- MLS Number
- W13484072
- Property Type
- Detached
- Status
- active
- Days on Site
- 13
- Bedrooms
- 7
- Bathrooms
- 6
- Square Feet
- 3,000 - 3,499 sqft
- Neighbourhood
- Mississauga
- Listing Brokerage
- ROYAL LEPAGE REAL ESTATE SERVICES LTD.
Luxury living meets built-in income. This extensively renovated detached home features two legal self-contained basement apartments with separate entrances, offering estimated rental income potential of approxiamately $4,000/month, all situated on a rare 48x200 ft premium lot in one of Mississauga's most desirable neighbourhoods. Welcome to highly sought-after Huron Park, where this exceptional property offers the perfect blend of lifestyle, flexibility, and investment potential. The main and upper levels have been thoughtfully renovated and feature a modern kitchen with custom cabinetry, centre island and stylish backsplash, upgraded lighting, engineered hardwood flooring, updated bathrooms, and fresh paint throughout. The lower level offers exceptional flexibility for today's buyer, whether utilized for supplemental rental income, multi-generational living, accomodating extended family, or creating a private space for guests. Additional upgrades include an updated furnance, electrical panel, garage doors, window glass, light fixtures and custom blinds. Ideally located minutes from Highways 403 and QEW, Square One Shopping Centre, public transit, schools, parks and everyday amentities, Situated on a premium 48x200 ft lot , this property offers exceptional outdoor space and future potential, subject to buyer verification. A rare turnkey opportunity for families, investors, and those seeking a high-quality asset in one of Mississauga's most established and desirable communities.
Estimate your monthly payments for this property
Estimated Payment
$8,846.67/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.
Nature and University Town Living
Erindale is a mature neighbourhood centered around the University of Toronto Mississauga campus and the scenic Credit River valley. The area offers a unique combination of natural beauty, academic culture, and established residential streets. Erindale Park, one of Mississauga's largest and most beautiful parks, anchors the community.
Why Live in Erindale
- •Adjacent to UTM campus
- •Credit River valley and trails
- •Erindale Park - one of Mississauga's finest
- •Mature trees and established streets
- •Strong rental market near university
Nearby Schools
Transit & Commuting
- •MiWay Route 110 to UTM
- •Easy access to Highway 403
- •Erindale GO Station (planned)
- •25-minute drive to Toronto Pearson Airport
Parks & Amenities
- •Erindale Park
- •Credit River trails
- •Erindale Community Centre
- •UTM campus amenities
- •Riverwood Conservancy (nearby)
Lifestyle & Community
Erindale combines the serenity of nature with the vibrancy of a university community. Residents enjoy beautiful parks, academic culture, and a diverse, welcoming atmosphere.
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 $667/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.
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.
Mississauga Market Insight
Mississauga continues to mature as a city with its own identity. The LRT expansion, growing downtown core, and Square One development are driving appreciation. Transit access is excellent with MiWay, GO Transit, and soon the Hurontario LRT. Many of my clients find they rarely need to commute to Toronto for entertainment or dining anymore.