2300 Folkway Drive, Mississauga, ON
Erin Mills, Mississauga · MLS® W13633428
About this home
In short
- A Rare Opportunity In Prestigious Erin Mills.
- Situated On An Exceptional Premium Lot With Impressive Frontage, Expansive Front Yard And A Private Pool-Sized Backyard with Large 2-Tier decks, This Beautifully...
- Sun-Filled Principal Rooms Feature Large Windows, Hardwood Floors Throughout The Main and Upper Level And Two Walkouts To The Backyard From Both The Kitchen And...
- The fully renovated legal basement apartment with two units and a separate entrance is a rare and valuable asset.
- Extensive Recent Upgrades Include New HVAC System (2022), Whole-Home Humidifier (2024), Heated Ensuite Floor, EV Charging Rough-In, New Driveway (2025) And A 5-Zone...
A Rare Opportunity In Prestigious Erin Mills! Situated On An Exceptional Premium Lot With Impressive Frontage, Expansive Front Yard And A Private Pool-Sized Backyard with Large 2-Tier decks, This Beautifully Upgraded Family Home Offers The Perfect Blend Of Luxury, Flexibility And Income Potential. Sun-Filled Principal Rooms Feature Large Windows, Hardwood Floors Throughout The Main and Upper Level And Two Walkouts To The Backyard From Both The Kitchen And Family Room, Creating An Ideal Setting For Everyday Living And Entertaining. The Upgraded Kitchen Is Equipped With Stainless Steel Appliances, Smart Wi-Fi-Enabled Features And A State-Of-The-Art Refrigerator With Integrated Media Screen. The fully renovated legal basement apartment with two units and a separate entrance is a rare and valuable asset. Thoughtfully designed with two kitchens/kitchenettes, two 3-piece bathrooms and separate laundry facilities, the lower level offers exceptional flexibility for multigenerational living, extended family accommodation or income-generating opportunities. With multiple potential living arrangements, these legal suites provide buyers with unique opportunities to significantly offset ownership costs while enhancing long-term investment value. Extensive Recent Upgrades Include New HVAC System (2022), Whole-Home Humidifier (2024), Heated Ensuite Floor, EV Charging Rough-In, New Driveway (2025) And A 5-Zone Underground Wi-Fi Enabled Sprinkler System for Front Yard and Backyard. Located In One Of Mississauga's Most Sought-After Family Communities, Surrounded By Parks, Ravines, Trails And Top-Rated Schools. Minutes To University Of Toronto Mississauga, Credit Valley Hospital, Erin Mills Town Centre, GO Transit And Major Highways. A Unique Opportunity To Own A Turnkey Home Offering Lifestyle, Space And Exceptional Long-Term Value.
Key facts
- Property type
- Detached, 2-Storey
- MLS®
- W13633428
- Bedrooms
- 4+3 (7 total)
- Bathrooms
- 5 (1 half)
- Size
- 2500-3000 sq ft
- Lot
- 70.85 × 139.72 ft
- Cross streets
- Sawmill Valley Drive / Folkway Drive
- Parking
- 2 garage · 4 parking (attached)
- Driveway
- Private
- Basement
- Apartment, Finished, Full, Separate Entrance
- Kitchens
- 3 (1 + 2)
- Heating
- Forced Air
- A/C
- Central Air
- Exterior
- Brick
- Foundation
- Concrete
- Roof
- Asphalt Shingle
- Sewer
- Sewer
- Property tax
- $9,584 / 2026
- Days on market
- 49
- Listing brokerage
- CENTURY 21 LEADING EDGE REALTY INC.
Rooms
hardwood floor · walk-in closet(s) · 4 pc ensuite
ceramic floor · w/o to deck · pot lights
hardwood floor · crown moulding · separate room
combined w/kitchen · large window · closet
hardwood floor · crown moulding · french doors
Closet
open concept · combined w/living
corian counter · backsplash · pot lights
hardwood floor · w/o to deck · gas fireplace
hardwood floor · double closet · ceiling fan(s)
Closet
hardwood floor · double closet · pot lights
hardwood floor · double closet · ceiling fan(s)
Listed at $1,649,000. Going by how homes in Erin Mills have actually closed against their asking prices (about 98%, 41 local closings in 90 days), the likely sale price is near $1.62M, if it sells. A realistic range is $1.52M to $1.83M.
Independent value check: $1.50M. Without looking at the asking price, our model values the home itself about 9% below the ask (homes like it typically land between $1.40M and $1.57M).
Why $1.50M. The typical detached home sold in Erin Mills over the past year went for about $1.21M (162 sales). What sets this one apart:
- ▲ Raises it stronglyIts tax bill, which follows the city's own assessment, is $9,584 a year; the typical home sold here pays about $7,300.
- ▲ Raises it slightlyThe listing describes it as fully renovated or newly built.
- ▲ Raises it slightlyIt is 2,500 to 3,000 sq ft; the typical home sold here is 2,000 to 2,500.
- ▲ Raises it slightlyIts lot is 71 by 140 ft; the typical lot sold here is 46 by 120.
Longer on the market than typical. 49 days on the market against about 29 for homes like it here, and asking 10% above where comparable closings put it.
Total price vs nearby homes. Likely closing about $1.62M, from 41 recent closings in this pocket.
The market behind the math:
About 1.2 months of inventory: 17 detached homes for sale in the area against 41 closings in the last 90 days. Under two months favours sellers, over four favours buyers.
Price per square foot: this home lists at $600/sqft against an area asking average of $599/sqft.
- Separate-entrance basement apartment features. A finished 3 bed basement apartment with a separate entrance and a second kitchen. A self-contained space for extended family, guests or potential income. Basements do rent in Erin Mills: 23 of the 150 detached leases here lately were basement units, around $1,800 a month. That makes the suite real income. Second-suite retrofit status is not verified. A buyer intending to rent should confirm requirements with the City of Mississauga.
How this estimate is builtthe short version
This figure comes from a model built on about 44,000 recent GTA sales. It weighs this home’s tax assessment, size, age, location and features against what homes like it actually sold for, including sales in this neighbourhood.
It never sees the asking price. The 41 most comparable recent sales on their own, adjusted for size, beds, baths and lot, point to about $1.63M. Condition and finishes remain an in-person call.
What the listing highlights5 points to weigh
Claims from the listing, worth confirming in person. I can book you a private showing.
- Separate entrance / basement suite: rental or in-law income potential, if it is legally registered and retrofit-compliant. Income potential
- Renovated / rebuilt: recent work can mean fewer upfront costs, worth confirming the scope, quality, and that permits were pulled. Value driver
- Recent major systems: lower near-term capital costs, ask for the ages and any warranties. Value driver
- Pool: lifestyle appeal, but adds maintenance, insurance, and resale is mixed. Weigh carefully
- Premium lot / gardens: lot size and privacy hold value and cannot be changed, verify frontage, depth, and any easements. Value driver
Schools & getting aroundcatchment and transit
On location, it is moderately walkable, so some daily errands are within reach and for the rest you will likely drive. Erin Mills Parkway At Folkway Drive is about a 5-minute walk away.
Read this with carewhy it’s an estimate, not an appraisal
Priced above comparable homes overall, but the price per square foot ($600/sqft) is in line with the area, so you are paying for extra space rather than a premium.
Based on 41 comparable homes that sold in Erin Mills over the past two years, from 325 closings there.
For sale
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For saleThe closest active listings by size, beds, and price, so you can see what this home is up against.
Per square foot, these ask about $568/sqft; this home lists at $600/sqft. Size is part of the price story, not just the sticker.
The 5 closest of 8 active listings nearby.
See all comparable homesNeighbourhood & location
Erin Mills, Mississauga, ON
Enter a workplace or destination and we’ll show the door-to-door time by car, transit and bike.
Getting around
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 OpenStreetMap contributors.
Many errands can be done on foot; a car still helps.
🚉 Nearest transit: Erin Mills Parkway At Folkway Drive, about 385 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). Mississauga.
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
Homes over $1.5M can't be insured, so 20% down or more is required.
Conventional (20%+ down). Best insured 5-year fixed 4.24% via Ratehub.ca (as of September 23, 2026); conventional rates run a little higher.
Mortgage amount $1,319,200 · 4.39% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $7,221
- Property tax
- $799
- Condo / maintenance fees
- $0
- Heating
- $0
- Estimated monthly cost
- $8,020
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $29,455
- Estimated closing costs
- $29,455
Plus your down payment of $329,800. 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
- $433,258
- Principal paid down
- $163,109
- Interest paid
- $270,148
- Balance remaining
- $1,156,091
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
The suite is real income here: basements rent in Erin Mills (23 of 150 recent detached leases were basement units, around $1,800 a month). The figure above is the whole house on one lease; rented as two units, the suite alone brings about $1,800 a month on top of the upper floors. Permitted use is worth confirming with the city.
Thinking of this home as an investment? We will pull real comparable rents and run the full numbers with you.
Talk about the numbersThe last 13 whole-home leases in Erin Mills signed at a median of $5,374 a month; adjusted to this home for size, beds and baths, and for where rents stood the month each signed, that is $5,375. The gross yield above is on the asking price, before taxes and upkeep; the cap rate is after them. A finished basement or second suite can push real rent above it. Taxes, fees, and vacancy vary by property, and cap rate is before financing.
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.