Many buyers don't realize that income from a legal basement apartment may help them qualify for a larger mortgage.

If you've been struggling to find an affordable detached home in Toronto, this property deserves a closer look.

Located in Scarborough's established Oakridge neighbourhood, this detached brick bungalow features a legal basement apartment, making it an excellent opportunity for first-time buyers, investors, or families looking for flexible living arrangements.

Current rental income totals $3,618.70 per month plus utilities, providing immediate income potential while offering long-term flexibility.

Why This Home Stands Out

• Legal basement apartment with separate entrance

• Current combined rental income of $3,618.70/month + utilities

• Main floor currently rented for $1,978.70/month + 65% utilities

• Basement apartment currently rented for $1,640/month + 35% utilities

• Detached brick bungalow

• Generous 40' x 120' lot

• Large front yard and spacious backyard

• Detached garage plus parking for up to six vehicles

• New asphalt driveway (2025)

• New central air conditioner (2025)

• New garage door (2025)

• Shared laundry with coin-operated washer and dryer

Could This Home Help You Qualify for a Larger Mortgage?

One of the biggest challenges facing today's buyers is qualifying for enough mortgage financing.

What many people don't realize is that many lenders will consider income from a legal basement apartment when calculating mortgage affordability.

That means a property like this may allow some buyers to qualify for more home than they expected while helping reduce their monthly carrying costs through rental income.

(Mortgage qualification depends on the lender and each buyer's financial circumstances. Buyers should consult their mortgage professional to determine how rental income may apply to their specific situation.)

A Rare 40' x 120' Lot Offers More Outdoor Space

Another feature that sets this property apart is the generous 40 foot by 120 foot lot.

Unlike many newer homes with limited outdoor space, this property offers both a good-sized front yard and a large backyard, giving you room for gardening, entertaining, children to play, pets, or simply enjoying your own outdoor space.

The detached garage and long private driveway also provide parking for up to six vehicles, making this an excellent fit for larger households or visitors.

Ideal for Several Types of Buyers

First-Time Buyers

This home offers an opportunity to begin building equity while benefiting from rental income that may help make home ownership more affordable.

Investors

With both units currently rented, this property already generates strong monthly income.

Current tenants have expressed an interest in remaining if an investor purchases the property, providing the potential for a smooth transition after closing.

Multi-Generational Families

Need extra space for parents, adult children or extended family?

The legal basement apartment offers flexibility that many families are looking for today.

Convenient Scarborough Location

You'll enjoy easy access to many everyday conveniences, including:

• Walking distance to public schools, Catholic schools and Birchmount Park Collegiate Institute
• Bus service to Warden, Victoria Park and Main Street Subway Stations
• Shopping, restaurants and other everyday amenities nearby
• Easy access to major commuter routes

Whether you're commuting downtown, attending school, or simply running errands, this location offers outstanding convenience.

A Home With Tremendous Potential

While the home could benefit from some updating, the fundamentals are already in place.

A legal basement apartment.

A detached brick bungalow.

A generous 40' x 120' lot.

Strong rental income.

A detached garage.

Parking for six vehicles.

Excellent transit access.

These are features that are difficult to add later and help make this property an outstanding opportunity for buyers willing to add their own personal touches over time.

See More Photos & Complete Property Information

Interested in learning more?

Click below to view additional photos and complete property information. From there, you can also request a copy of the complete MLS listing, including room measurements, inclusions, and other important property details.

Thinking About Buying?

Buying a home is one of the biggest financial decisions you'll ever make, and having the right guidance can make all the difference.

When you buy through my team, you'll also benefit from programs designed to give you added confidence, including:

• 18-Month Buyer Satisfaction Guarantee – If you're not completely satisfied with your home within the first 18 months, I'll help sell it for FREE.*

• Free Home Warranty – Additional peace of mind for eligible buyers.*

Click below to learn more about all of my buyer offers and guarantees.

When completing the contact form, simply mention in the Comments section that you'd like information about my buyer guarantees and offers, including the 18-Month Buyer Satisfaction Guarantee and Free Home Warranty, and I'll be happy to send you the details with absolutely no obligation.

If you prefer, simply call me at 905-683-7800 and I'll be happy to answer your questions personally.
 

I'm Here to Help

If you'd like to arrange a private viewing or have questions about this property, please call me at 905-683-7800

Thanks For Reading Today’s BLOG!

Brian Kondo
RE/MAX Hallmark First Group Realty Ltd.

905-683-7800

brian@briankondo.com