228 Lormel Gate S

FOR SALE
$1,488,888
228 Lormel Gate S, Woodbridge
228 Lormel Gate S
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3 + 2
BEDROOMS
5
BATHROOMS
1 + 2
KITCHENS
5 + 4
ROOMS
N10420919
MLSID
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Property Description
Welcome to 228 Lormel Gate in Vaughan, a spacious and well-maintained detached home offering both comfort and investment potential. This property features three generous bedrooms on the main floor, along with 2.5 bathrooms, including a powder room and en-suite options. The bright living room boasts a stunning fireplace, creating a cozy ambiance, and leads to a walk-out deck, perfect for outdoor relaxation and entertaining. The main floor also includes convenient laundry facilities. The fully finished basement offers two additional bedrooms, two dens, and a second laundry room, providing ample space for guests, a home office, or extra storage. With its dual-basement layout, this home presents a fantastic opportunity for passive rental income, making it ideal for investors or first-time homebuyers looking to offset their mortgage. Located in a prime Vaughan neighborhood, close to schools, parks, shopping, and transit, this property combines excellent living space with investment potential. Don't miss out on this incredible opportunity schedule your private showing today!
Extras
Dual-basement layout, this home presents a fantastic opportunity for passive rental income, making it ideal for investors or first-time homebuyers looking to offset their mortgage.
Property Features
Hospital, Level, Park, Place Of Worship, Public Transit, School
Property Details
Property Type
Detached, Bungalow
Approximate Sq.Ft.
2500-3000
Lot Size
39' x 105'
Acreage
< .50
Lot Irregularities
OFF
Fronting
South
Taxes
$5,625 (2024)
Basement
Finished, Sep Entrance
Exterior
Brick
Heat Type
Forced Air
Heat Source
Gas
Air Conditioning
Central Air
Water
Municipal
Parking Spaces
2
Driveway
Available
Garage Type
Attached
Room Summary
RoomLevelSizeFeatures
LivingMain13.16' x 18.57'Fireplace, Hardwood Floor
DiningMain13.22' x 18.54'Window
Prim BdrmMain9.35' x 16.34'5 Pc Ensuite, Hardwood Floor, Window
2nd BrMain10.89' x 12.30'Closet, Semi Ensuite
3rd BrMain11.81' x 14.17'Closet, Hardwood Floor
Woodbridge Market Statistics
Woodbridge Price Trend
228 Lormel Gate S is a 3-bedroom 5-bathroom home listed for sale at $1,488,888, which is $256,374 (20.8%) higher than the average sold price of $1,232,514 in the last 30 days (October 23 - November 21). During the last 30 days the average sold price for a 3 bedroom home in Woodbridge declined by $128,303 (9.4%) compared to the previous 30 day period (September 23 - October 22) and down $86,426 (6.6%) from the same time one year ago.
Inventory Change
There were 93 3-bedroom homes listed in Woodbridge over the last 30 days (October 23 - November 21), which is up 9.4% compared with the previous 30 day period (September 23 - October 22) and up 3.3% compared with the same period last year.
Sold Price Above/Below Asking ($)
3-bedroom homes in Woodbridge typically sold ($6,237) (0.5%) below asking price over the last 30 days (October 23 - November 21), which represents a $36,099 increase compared to the previous 30 day period (September 23 - October 22) and ($30,703) more than the same period last year.
Sales to New Listings Ratio
Sold-to-New-Listings ration (SNLR) is a metric that represents the percentage of sold listings to new listings over a given period. The value below 40% is considered Buyer's market whereas above 60% is viewed as Seller's market. SNLR for 3-bedroom homes in Woodbridge over the last 30 days (October 23 - November 21) stood at 73.1%, up from 67.1% over the previous 30 days (September 23 - October 22) and up from 54.4% one year ago.
Average Days on Market when Sold vs Delisted
An average time on the market for a 3-bedroom 5-bathroom home in Woodbridge stood at 22 days when successfully sold over the last 30 days (October 23 - November 21), compared to 63 days before being removed from the market upon being suspended or terminated.
Listing contracted with Century 21 Skylark Real Estate Ltd.
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