116-1538 Lancaster Drive, Oakville, ON
Falgarwood, Oakville · MLS® W12867790
About this home
Welcome to this sun-drenched 3-bedroom, 2-bathroom condo townhouse, where comfort meets effortless living. The main floor shines with modern pot lights and a spacious layout perfect for hosting. Retreat upstairs to three bright bedrooms featuring laminate flooring. A standout feature is the finished basement, complete with a rare 3-piece bathroom. Step outside to your private outdoor nook or explore the incredible neighborhood, rich with parks, ravines, and scenic trails. Situated just minutes from the Oakville GO Station, shopping, and dining, this home offers the ultimate low-maintenance lifestyle in a prime location. Nestled in the heart of Oakville's coveted Falgarwood community, this elegant 3-bedroom, 2-bathroom condo townhouse perfectly balances modern comfort with suburban tranquility. The main floor features a sprawling living area designed for both quiet evenings and effortless entertaining. Upstairs, three sun-drenched bedrooms offer a serene retreat, complemented by a pristine full bathroom. The home's versatility shines in the finished basement, which boasts a spacious rec room and a rare, additional 3-piece bath. Step outside to a private outdoor space brimming with potential. Located just minutes from the Oakville GO Station, premium dining, and lush ravine trails, this home offers a seamless, low-maintenance lifestyle in a nature-rich neighborhood.
Key facts
- Property type
- Condo Townhouse, 2-Storey
- MLS®
- W12867790
- Bedrooms
- 3
- Bathrooms
- 2
- Size
- 1000-1199
- Cross streets
- Upper Middle Rd E/ Eighth Line
- Parking
- 1 garage · 2 parking (attached)
- Basement
- Finished
- Heating
- Forced Air
- A/C
- Central Air
- Exterior
- Brick, Aluminum Siding
- Foundation
- Concrete
- Roof
- Asphalt Shingle
- Maintenance
- $475/mo
- Exposure
- South
- Property tax
- $2,896 / 2025
- Days on market
- 129
- Listing brokerage
- CMI REAL ESTATE INC.
Rooms
4 Pc Bath
Listed at $685,000, this home is about 14% above what comparable homes suggest. The number above is my independent estimate of value, not the asking price.
Priced above comparable homes overall, but the price per square foot ($623/sqft) is below the area, so you are paying for extra space rather than a premium.
There were not many closely comparable homes right in Falgarwood, so I widened the search to the surrounding area.
Based on 5 similar homes nearby, adjusted for size, beds, and baths.Median of 5 comparable active listings, adjusted for size, beds, and baths. The city (MPAC) assessment points to about $583K, a close match.
How I got there
Here is the exact math behind the estimate. I start from the closest comparable listing and adjust for the real differences (size, beds, baths) to land on a like-for-like value for this home.
- Closest comparable, listed at $599K
- Adjusts to $599K
That comparable adjusts to $599K; the $599K estimate above is the median of all 5 comparables, which is steadier than any single home.This uses comparable active listings, not sold prices. Lot, condition, and finishes are my in-person call, and I can run a full CMA with recent solds.
On location, this is a very walkable address with everyday errands close by. Upper Middle Rd East east of 8th Line is about a 1-minute walk away. Walkable, transit-friendly spots tend to hold value and widen your resale pool.
Total price vs nearby homes. Fair value about $599K, median of 5 comparables.
What the listing highlightsThese are claims from the listing. The only way to know for sure is to see it in person, and I am happy to book you a private showing.
- Finished basement: added living space, worth checking ceiling height and that the work was permitted.
- Ravine lot: privacy and premium value, but confirm the buildable area and any conservation limits.
- Value driver
- Worth verifying
The closest active listings by size, beds, and price, so you can see what this home is up against.
The 5 closest of 7 active listings nearby.
See all comparable homesThis home lists 21% below the area average of $790/sqft.
93 days longer than the Oakville average (36 days).
View comparable listingsPrice per square foot vs the area average.
Neighbourhood & location
Falgarwood, Oakville, ON
Enter a workplace or destination and we’ll show the door-to-door time by car, transit and bike.
Getting around
Very WalkableA walkability read built from the amenities around this home: how close the nearest transit stop is, and how many grocery, dining, park, and pharmacy destinations fall within a 15-minute walk. It is a guide, not a guarantee. Places data from Google.
Most daily errands can be done on foot.
🚉 Nearest transit: Upper Middle Rd East east of 8th Line, about 91 m away
Within a 15-minute (1.5 km) walk.
How asking prices compare in the closest areas to this home. Longer bars mean a pricier market.
Typical asking price of active listings of the same type, per area (outliers removed). Oakville.
Get the full neighbourhood report (schools, parks, transit & safety) →
Affordability & Mortgage
Income needed assumes a ~32% GDS ratio; weekly is mortgage principal & interest only. Price ÷ income is the home price over the income needed. Fixed reference assumptions so listings compare on equal footing, not a lending decision.
Calculate and customize your mortgage and other expenses
Adjust the down payment, rate, and amortization, and add property tax, condo fees, and heating to see your true monthly cost.
Your numbers
Conventional (20%+ down). Best insured 5-year fixed 3.99% via Ratehub.ca (as of July 17, 2026); conventional rates run a little higher.
Mortgage amount $548,000 · 4.14% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $2,924
- Property tax
- $241
- Condo / maintenance fees
- $475
- Heating
- $0
- Estimated monthly cost
- $3,641
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $10,175
- Estimated closing costs
- $10,175
Plus your down payment of $137,000. Legal fees, title insurance, and adjustments are extra and vary by deal.
Mortgage stress test
Lenders qualify you at the greater of your rate plus 2% or 5.25%. You do not pay this rate. It just shows you could still handle payments if rates rose, so aim to stay comfortable at this higher number.
Over the full 25 years
At the end of your 5-year term
- Total paid over the term
- $175,460
- Principal paid down
- $69,788
- Interest paid
- $105,672
- Balance remaining
- $478,212
Talk to Team Asgarian about your options
Rates and programs change often. We will connect you with a trusted mortgage professional and build a plan that fits your budget and goals.
Estimates only, not a mortgage quote or pre-approval. Figures use Canadian semi-annual compounding, current minimum down-payment rules, CMHC premium tiers, and Ontario (plus Toronto, when selected) land transfer tax. Actual rates, taxes, insurance, and closing costs vary by lender and property. Confirm every number with your mortgage professional.
Investor snapshot
Thinking of this home as an investment? We will pull real comparable rents and run the full numbers with you.
Talk about the numbersEstimates only. Rent is modelled on above-grade size and local norms, so a finished basement or second suite (a separate entrance often means one) can push real rent well above this. Taxes, fees, and vacancy vary by property, and cap rate is before financing. A starting point, not a final number, let us run the real ones with you.
Helpful resources
All information deemed reliable but not guaranteed. For personal, non-commercial use only. Listing courtesy of CMI REAL ESTATE INC.. MLS®/PropTx.