42 LAKE Avenue, Hamilton, ON
Riverdale, Hamilton · MLS® X13697146
About this home
In short
- Welcome to 42 Lake Ave North - A Home Full of Space, Privacy, and Possibilities.
- Discover the charm and potential of 42 Lake Ave North, a welcoming home set higher on the lot and tucked away from the main road.
- Step outside and enjoy a large, private backyard, garden area, and a covered deck that's perfect for entertaining, relaxing, or enjoying summer evenings.
- Inside, the bright living room features beautiful hardwood floors, while the eat-in-kitchen offers a comfortable space for everyday meals.
- The finished basement adds even more versatility, featuring a cozy gas fireplace in the family room, an additional bedroom, spacious laundry room, and den.
Welcome to 42 Lake Ave North - A Home Full of Space, Privacy, and Possibilities. Discover the charm and potential of 42 Lake Ave North, a welcoming home set higher on the lot and tucked away from the main road. With plenty of parking for family and friends and an abundance of indoor and outdoor space, this property offers the flexibility to make it truly your own. Step outside and enjoy a large, private backyard, garden area, and a covered deck that's perfect for entertaining, relaxing, or enjoying summer evenings. There's even room to add a hot tub and create your own backyard retreat. A standout feature is the large heated workshop with A/C, ready to be customized to suit your hobbies, projects, or recreational needs. Prefer a garage? The space could potentially be converted back to a detached garage for a vehicle, motorcycle, boat, ATV and/or other toys. A spacious shed provides additional storage and could even be transformed into a special retreat for the family pet. Inside, the bright living room features beautiful hardwood floors, while the eat-in-kitchen offers a comfortable space for everyday meals. The main floor also includes a bedroom and bathroom for added convenience. Upstairs, you'll find two additional bedrooms, providing plenty of room for family, guests, or a home office. The finished basement adds even more versatility, featuring a cozy gas fireplace in the family room, an additional bedroom, spacious laundry room, and den. With generous outdoor space, versatile outbuildings, and plenty of room to personalize, 42 Lake Ave North is a home with both character and opportunity.
Key facts
- Property type
- Detached, 1 1/2 Storey
- MLS®
- X13697146
- Bedrooms
- 3+1 (4 total)
- Bathrooms
- 1
- Size
- 700-1100 sq ft
- Lot
- 51.59 × 136.54 ft
- Cross streets
- LAKE AVE/QUEENSTON RD
- Parking
- 7 parking
- Driveway
- Private Double
- Basement
- Full, Finished
- Heating
- Forced Air
- A/C
- Central Air
- Exterior
- Aluminum Siding, Vinyl Siding
- Foundation
- Block
- Roof
- Asphalt Shingle
- Sewer
- Sewer
- Property tax
- $4,127 / 2026
- Days on market
- 33
- Listing brokerage
- RE/MAX ESCARPMENT REALTY INC.
Rooms
Walk-In Closet(s)
4 Pc Bath
Hardwood Floor
Listed at $649,000, about 11% below our estimate of $731K (homes like it typically land between $685K and $766K).
Total price vs nearby homes. Fair value about $731K, learned from recent GTA sales.
The market behind the math:
About 7 months of inventory: 7 detached homes for sale in the area against 3 closings in the last 90 days. Under two months favours sellers, over four favours buyers.
Price per square foot: this home lists at $721/sqft against an area asking average of $518/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 15 most comparable recent sales on their own, adjusted for size, beds, baths and lot, point to about $599K. 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.
- Finished basement: added living space, worth checking ceiling height and that the work was permitted. Value driver
- Premium lot / gardens: lot size and privacy hold value and cannot be changed, verify frontage, depth, and any easements. Value driver
- Hardwood floors: quality hardwood is durable and broadly desirable. Lifestyle
Read this with carewhy it’s an estimate, not an appraisal
Below comparable homes on total price, yet the price per square foot ($721/sqft) is above the area, which usually points to a smaller or more efficient layout.
The listing states size as a wide range, so the size adjustment is approximate and this estimate is a rough read. I can confirm exact square footage to tighten it.
There were not many closely comparable homes right in Riverdale, so I widened the search to the surrounding area.
Based on 15 comparable homes that sold in Riverdale over the past two years, from 31 closings there.
For sale
For sale
For sale
For sale
For sale
For sale
For saleNothing closely matching this home is listed nearby right now, so these are the nearest detached listings on the market. Homes like this one have recently closed around $731K, which is where my estimate comes from.
Per square foot, these ask about $565/sqft; this home lists at $721/sqft. Size is part of the price story, not just the sticker.
The 5 closest of 7 active listings nearby.
See all comparable homesNeighbourhood & location
Riverdale, Hamilton, 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). Hamilton.
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 4.24% via Ratehub.ca (as of September 23, 2026); conventional rates run a little higher.
Mortgage amount $519,200 · 4.39% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $2,842
- Property tax
- $344
- Condo / maintenance fees
- $0
- Heating
- $0
- Estimated monthly cost
- $3,186
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $9,455
- Estimated closing costs
- $9,455
Plus your down payment of $129,800. 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
- $170,518
- Principal paid down
- $64,195
- Interest paid
- $106,323
- Balance remaining
- $455,005
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 6 whole-home leases in Riverdale signed at a median of $3,200 a month; adjusted to this home for size, beds and baths, and for where rents stood the month each signed, that is $2,163. 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 RE/MAX ESCARPMENT REALTY INC.. MLS®/PropTx.