1088 Cherriebell Road, Mississauga, ON
Lakeview, Mississauga · MLS® W14084568
About this home
In short
- Set on an expansive 50 x 227 ft lot, this charming property presents an exceptional opportunity within one of Mississauga's most evolving waterfront neighbourhoods.
- The existing residence has been thoughtfully renovated, offering a warm and functional layout with updated finishes throughout.
- The main level features hardwood flooring, a bright living and dining area, renovated kitchen with quartz countertops, custom cabinetry and built-in Bosch appliances...
- The finished lower level with separate entrance expands the living space with an additional bedroom, bathroom, recreation area and kitchenette, creating flexibility...
- Additional features include 200 amp electrical service, 40 amp garage service for EV charger capability, hardwired outdoor lighting on a timer, a renovated basement...
Set on an expansive 50 x 227 ft lot, this charming property presents an exceptional opportunity within one of Mississauga's most evolving waterfront neighbourhoods. Surrounded by mature trees and many newer custom homes, the setting naturally lends itself to both immediate enjoyment and long-term vision. The existing residence has been thoughtfully renovated, offering a warm and functional layout with updated finishes throughout. The main level features hardwood flooring, a bright living and dining area, renovated kitchen with quartz countertops, custom cabinetry and built-in Bosch appliances, two bedrooms, and an updated bath accented by beautiful stained-glass details. The finished lower level with separate entrance expands the living space with an additional bedroom, bathroom, recreation area and kitchenette, creating flexibility for extended family, guests or future income potential. Beyond the home itself, the scale and depth of the property inspire future possibilities. Envision expanding the existing residence, creating seamless indoor-outdoor entertaining spaces. The City's evolving planning framework further contributes to the area's growing long-term appeal as Lakeview transforms through revitalization and investment. Additional features include 200 amp electrical service, 40 amp garage service for EV charger capability, hardwired outdoor lighting on a timer, a renovated basement, and a newly completed backyard deck (2025). Whether enjoyed today, held as a long-term investment, or gradually reimagined over time, the property offers a rare combination of character, land value and future potential. Ideally positioned within walking distance to Marie Curtis Park, waterfront trails, golf courses, Long Branch GO, the future Lakeview GO Station, TTC, MiWay transit, restaurants, shopping and major commuter routes including the QEW, 427, Lakeshore Road and easy access to Downtown Toronto.
Key facts
- Property type
- Detached, Bungalow
- MLS®
- W14084568
- Bedrooms
- 2+1 (3 total)
- Bathrooms
- 2
- Size
- 700 sq ft
- Lot
- 50 × 227.04 ft
- Cross streets
- Lakeshore Rd E & Dixie Rd
- Parking
- 1 garage · 6 parking (detached)
- Driveway
- Private
- Basement
- Finished
- Heating
- Heat Pump
- A/C
- Central Air
- Exterior
- Aluminum Siding
- Foundation
- Block
- Roof
- Asphalt Shingle
- Sewer
- Sewer
- Property tax
- $6,691 / 2026
- Listing brokerage
- SAM MCDADI REAL ESTATE INC.
Rooms
above grade window · pot lights · laminate
above grade window · laundry sink · laminate
window · closet · laminate
large window · overlooks frontyard · hardwood floor
window · closet · hardwood floor
window · closet · fireplace
b/i appliances · pot lights · quartz counter
Listed at $998,000. Going by how homes in Lakeview and the wider GTA have actually closed against their asking prices (about 97%, 34 local closings in 90 days), the likely sale price is near $969K, if it sells. A realistic range is $908K to $1.09M.
Independent value check: $913K. Without looking at the asking price, our model values the home itself about 9% below the ask (homes like it typically land between $855K and $956K).
Why $913K. The typical detached home sold in Lakeview over the past year went for about $1.23M (142 sales). What sets this one apart:
- ▼ Lowers it stronglyIt is 700 sq ft; the typical home sold here is 1,500 to 2,000.
- ▼ Lowers itIts tax bill, which follows the city's own assessment, is $6,691 a year; the typical home sold here pays about $7,600.
- ▼ Lowers it2+1 bedrooms and 2 baths, against 3+1 and 3 typically.
- ▲ Raises itThe listing describes it as fully renovated or newly built.
Total price vs nearby homes. Likely closing about $969K, from 34 recent closings in this pocket.
The market behind the math:
About 0.8 months of inventory: 9 detached homes for sale in the area against 34 closings in the last 90 days. Under two months favours sellers, over four favours buyers.
Price per square foot: this home lists at $1,426/sqft against an area asking average of $1,568/sqft.
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 34 most comparable recent sales on their own, adjusted for size, beds, baths and lot, point to about $837K. Condition and finishes remain an in-person call.
What the listing highlights3 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
- Hardwood floors: quality hardwood is durable and broadly desirable. Lifestyle
Read this with carewhy it’s an estimate, not an appraisal
Priced above comparable homes overall, but the price per square foot ($1,426/sqft) is below the area, so you are paying for extra space rather than a premium.
Based on 34 comparable homes that sold in Lakeview over the past two years, from 268 closings there.
The closest active listings by size, beds, and price, so you can see what this home is up against.
Per square foot, these ask about $1,399/sqft; this home lists at $1,426/sqft. Size is part of the price story, not just the sticker.
The 3 closest active listings nearby.
See all comparable homesSold price trend
Median sold price for detached homes in Lakeview: $1.32M in September 2026, up 3% from a year ago, on 142 closings in 12 months.
Line: median sold price, each month averaged with its neighbours and weighted by closings. Bars: closings that month.
Month by month
| Month | Median sold | Closings |
|---|---|---|
| October 2025 | $1.17M | 21 |
| November 2025 | $1.19M | 12 |
| December 2025 | $1.72M | 11 |
| January 2026 | $1.07M | 7 |
| February 2026 | $1.22M | 9 |
| March 2026 | $1.34M | 9 |
| April 2026 | $1.21M | 13 |
| May 2026 | $1.24M | 19 |
| June 2026 | $1.25M | 7 |
| July 2026 | $1.50M | 7 |
| August 2026 | $1.26M | 15 |
| September 2026 | $1.32M | 12 |
Neighbourhood & location
Lakeview, Mississauga, ON
Enter a workplace or destination and we’ll show the door-to-door time by car, transit and bike.
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
Conventional (20%+ down). Best insured 5-year fixed 4.34% via Ratehub.ca (as of October 16, 2026); conventional rates run a little higher.
Mortgage amount $798,400 · 4.49% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $4,414
- Property tax
- $558
- Condo / maintenance fees
- $0
- Heating
- $0
- Estimated monthly cost
- $4,972
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $16,435
- Estimated closing costs
- $16,435
Plus your down payment of $199,600. 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
- $264,869
- Principal paid down
- $97,550
- Interest paid
- $167,320
- Balance remaining
- $700,850
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 numbersThe last 10 whole-home leases in Lakeview signed at a median of $2,135 a month; adjusted to this home for size, beds and baths, and for where rents stood the month each signed, that is $2,069. 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 SAM MCDADI REAL ESTATE INC.. MLS®/PropTx.