56-1552 Lancaster Drive, Oakville, ON
Falgarwood, Oakville · MLS® W13160992
About this home
Welcome to 56-1552 Lancaster Drive - a beautifully maintained townhouse nestled in one of Oakville's most desirable family-friendly communities, Iroquois Ridge South. This inviting home offers the perfect blend of comfort, convenience, and value, making it an ideal choice for first-time buyers, young families, downsizers, or investors. Featuring a spacious and functional layout with 3 bedrooms and 3 bathrooms, this home is designed for everyday living and effortless entertaining. The bright main floor flows seamlessly into an updated kitchen, while the finished basement adds valuable extra living space perfect for a recreation room, home office, gym, or guest area. Bright, spacious living/dining area, and a recently renovated laundry room, garage, and backyard. Upgrades include a new electrical panel, updated light fixtures throughout, and a security camera system for added peace of mind. The location is truly exceptional - steps to parks, schools, shopping, transit, and everyday amenities. Nearby grocery stores, restaurants, and community conveniences make daily errands simple and convenient.
Key facts
- Property type
- Condo Townhouse, Stacked Townhouse
- MLS®
- W13160992
- Bedrooms
- 3
- Bathrooms
- 3 (1 half)
- Size
- 1200-1399
- Cross streets
- Upper middle road east/Eight Line
- Parking
- 1 garage · 2 parking (attached)
- Basement
- Crawl Space, Full
- Heating
- Forced Air
- A/C
- Central Air
- Exterior
- Aluminum Siding, Brick
- Maintenance
- $475/mo
- Exposure
- North
- Property tax
- $2,930 / 2025
- Days on market
- 56
- Listing brokerage
- CENTURY 21 LEADING EDGE REALTY INC.
Rooms
Listed at $789,000, this home is right in line with comparable homes. The number above is my independent estimate of value, not the asking price.
There were not many closely comparable homes right in Falgarwood, so I widened the search to the surrounding area.
Based on 11 similar homes nearby, adjusted for size, beds, and baths.Median of 11 comparable active listings, adjusted for size, beds, and baths. The city (MPAC) assessment points to about $562K, lower than the comparables and worth a second look.
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 $685K
- Bedrooms +$30K
- Adjusts to $715K
That comparable adjusts to $715K; the $753K estimate above is the median of all 11 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. Lancaster Dr + Harcroft Ct 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 $753K, median of 11 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.
- Renovated / rebuilt: recent work can mean fewer upfront costs, worth confirming the scope, quality, and that permits were pulled.
- Transit / schools nearby: convenience and resale support, verify the exact distances and school catchment.
- Value driver
The closest active listings by size, beds, and price, so you can see what this home is up against.
The 5 closest of 6 active listings nearby.
See all comparable homesThis home lists 2% above the area average of $597/sqft.
19 days longer than the Oakville average (37 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: Lancaster Dr + Harcroft Ct, about 52 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 $631,200 · 4.14% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $3,368
- Property tax
- $244
- Condo / maintenance fees
- $475
- Heating
- $0
- Estimated monthly cost
- $4,087
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $12,255
- Estimated closing costs
- $12,255
Plus your down payment of $157,800. 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
- $202,099
- Principal paid down
- $80,383
- Interest paid
- $121,716
- Balance remaining
- $550,817
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 CENTURY 21 LEADING EDGE REALTY INC.. MLS®/PropTx.