$819,000 - 40 Cherrylawn Avenue, Downsview
Semi-Detached for Sale in Downsview
Neighbourhood: Humber Summit
- MLS Number
- W13646778
- Property Type
- Semi-Detached
- Status
- active
- Days on Site
- 17
- Bedrooms
- 3
- Bathrooms
- 2
- Square Feet
- 1,100 - 1,499 sqft
- Neighbourhood
- Downsview / Black Creek
- Listing Brokerage
- RE/MAX HALLMARK FIRST GROUP REALTY LTD.
Welcome to 40 Cherrylawn Avenue, a well-cared-for semi-detached bungalow offered for the first time by its original owners of nearly 60 years. Thoughtfully maintained over the decades, this home offers a functional layout with plenty of potential for its next chapter. The main floor features three bedrooms, one bathroom with an updated walk-in shower, and hardwood flooring throughout. A separate entrance leads to the finished basement, where you'll find a spacious living and recreation room, a full second kitchen, a three-piece bathroom, two separate storage rooms, and a workshop. A third entrance provides direct access from the basement to the backyard, adding even more convenience and flexibility. With generous lower-level living space, ample storage, and a practical bungalow layout, this North York home offers a strong foundation for buyers looking to personalize a property and make it their own.
Estimate your monthly payments for this property
Estimated Payment
$4,201.89/mo
Includes CMHC insurance ($22,850)
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 Humber Summit
Humber Summit 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 Humber Summit
- •Convenient location in Downsview / Black Creek
- •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
Humber Summit 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.
40 Cherrylawn Avenue, Downsview / Black Creek
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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 $745/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 17 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 Downsview 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.
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.
About Humber Summit
I know Humber Summit well from working with many buyers and sellers here. Each pocket has its own character - let me share what I've learned about this specific street and block. During our showing, I'll point out local amenities, school catchments, and what similar homes have sold for recently.
Investment Perspective
Looking at this as an investment: Downsview properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $3,413 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.