538 Fourth Line, Oakville, ON
West, Oakville · MLS® W13563852
About this home
Rare & Prestigious South Oakville Opportunity! Experience unmatched potential with this premium 16,415 sq ft western-exposure lot (273 ft deep) in a highly coveted neighborhood. Rare RL3 zoning permits building a 3-storey custom estate up to 12m high and over 17,000 sq ft-one of the last remaining oversized lots surrounded by newly built multi-million dollar mansions. The existing 5-bed, 3-bath raised bungalow has been meticulously stripped to the studs and transformed with master craftsmanship. Features a gourmet lacquer kitchen w/ quartz counters, porcelain finishes, & walk-out to a covered 16'4"x12'6" deck. Enjoy hardwood floors, crown molding, wainscoting, California shutters, & 2 electric fireplaces. The bright, above-grade lower level boasts a separate entrance, 2 bedrooms, rec room w/ wet bar & fireplace-ideal for in-laws or income. Complete with a new Lennox furnace, 200 Amp service, new windows/doors, and a detached tandem garage with a double turnaround driveway. Steps to Lake Ontario, marinas, GO Station, and Downtown Oakville. Top-tier school district: Ecole Pinegrove, St. Marys, St. Thomas Aquinas, and steps to Appleby College. LIVE IN, RENT, BUILD YOUR DREAM HOUSE!!!
Key facts
- Property type
- Detached, Bungalow
- MLS®
- W13563852
- Bedrooms
- 5 (3 + 2)
- Bathrooms
- 3
- Size
- 700-1100
- Lot
- 60 × 273 ft
- Cross streets
- 4th Line/Rebecca
- Parking
- 1 garage · 7 parking (detached)
- Basement
- Finished with Walk-Out
- Heating
- Forced Air
- A/C
- Central Air
- Exterior
- Brick
- Foundation
- Concrete
- Roof
- Asphalt Shingle
- Sewer
- Sewer
- Property tax
- $5,817 / 2025
- Days on market
- 3
- Listing brokerage
- BAY STREET GROUP INC.
Rooms
california shutters · laminate
california shutters · fireplace · hardwood floor
california shutters · hardwood floor
california shutters · hardwood floor
california shutters · hardwood floor
california shutters · laminate
california shutters · hardwood floor
california shutters · laminate
Heads up: the asking price here sits well above what comparable listings suggest. That can point to premium finishes, a bigger lot, or simply an ambitious ask, so it is worth a close look before you offer. I would not put an automatic figure on this one. Tell me you are interested and I will pull the most comparable recent sales and give you a straight answer on what it will really take.
Ask Moe if this price is fairOn location, this is a very walkable address with everyday errands close by. 4th Line + Wildwood Dr is about a 1-minute walk away. Walkable, transit-friendly spots tend to hold value and widen your resale pool.
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.
- Separate entrance / basement suite: rental or in-law income potential, if it is legally registered and retrofit-compliant.
- Renovated / rebuilt: recent work can mean fewer upfront costs, worth confirming the scope, quality, and that permits were pulled.
- Recent major systems: lower near-term capital costs, ask for the ages and any warranties.
- Upscale kitchen: a genuine value driver, verify the appliances, stone, and finishes in person.
- Hardwood floors: quality hardwood is durable and broadly desirable.
- Income potential
- Value driver
- Lifestyle
The closest active listings by size, beds, and price, so you can see what this home is up against.
The 3 closest active listings nearby.
See all comparable homes2 days faster than the Oakville average (5 days).
View comparable listingsPrice per square foot vs the area average.
Neighbourhood & location
West, 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: 4th Line + Wildwood Dr, about 55 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 $1,198,400 · 4.14% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $6,395
- Property tax
- $485
- Condo / maintenance fees
- $0
- Heating
- $0
- Estimated monthly cost
- $6,880
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $26,435
- Estimated closing costs
- $26,435
Plus your down payment of $299,600. 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
- $383,706
- Principal paid down
- $152,617
- Interest paid
- $231,090
- Balance remaining
- $1,045,783
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
Income potential: the basement has a separate entrance, which often supports a rentable in-law or second suite. That can lift real rent well above the figure above and help carry the mortgage. Ask us about permitted use in this area.
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 BAY STREET GROUP INC.. MLS®/PropTx.