1602 Severn Drive, Milton

$1,449,900
1602 Severn Drive

$1,449,900

New
24d
Detached2-Storey

1602 Severn Drive, Milton

Total Monthly Obligation $6,694

Beds
4
Baths
4
Park
2
Sqft
2500-3000
DOM
24d
Score
16
Yield
3.7%
Cash on Cash
-7.0%
Cap Rate
3.1%
5Y IRR
10.0%
10Y IRR
10.3%
Property Type-Detached
MLS® Number-W13841456
Beds-4
Bathrooms-4
Size-2500-3000 sqft
Lot Size-36.09 × 88.58 ft
Listed on site-Sep 29, 2026
Style-2-Storey
Building Type-Detached
Age-0-5
Taxes-$5,645.11 (2025)
Parking-4 - Built-In
Basement-Separate Entrance, Unfinished
Heating-Forced Air (Gas)
Brokerage-META REALTY INC.
Cooling-Central Air
Laundry-No
Fireplace-Natural Gas
Pool-None
Facing-East
Exterior-Brick Veneer, Stone
Roof-Asphalt Shingle
Foundation-Concrete
Sewer-Sewer
Possession-Flexible
Neighbourhood-1025 - BW Bowes
Title-Residential Freehold

No agent assigned

Please see Virtual Tour. Welcome to 1602 Severn Dr, an extensively upgraded, move-in-ready detached home offering approx. 2,700 sq. ft. above grade, 4 bedrooms & 4 bathrooms, with approx. $200K invested in upgrades & improvements, including nearly $150K in builder upgrades plus significant owner-added enhancements. Thoughtfully designed with quality, functionality & everyday luxury in mind, this impressive home features wide-plank hardwood flooring, smooth ceilings, pot lights throughout, upgraded trim, custom oak stairs with black metal pickets & a beautifully finished gas fireplace. At the heart of the home is the stunning Chef's Kitchen, complete with two-tone cabinetry, stacked upper cabinets, soft-close doors & drawers, quartz countertops, two-sided waterfall island, herringbone marble backsplash, full-height pantry, pull-out spice racks, pot-and-pan drawers, built-in waste/recycling storage & extensive cabinetry. Premium Samsung smart stainless-steel appliances include a gas cooktop and built-in dual oven/microwave combination. The second floor continues to impress with approx. 9-ft ceilings, hardwood throughout all bedrooms & hallways, convenient upper-level laundry & a highly desirable 3-bathroom configuration. The spacious primary retreat offers dual walk-in closets & a spa-inspired ensuite featuring double sinks, upgraded quartz, frameless glass shower, designer tile & a multi-function vertical spa system. Bedroom 4 enjoys its own private ensuite, while Bedrooms 2 & 3 share an upgraded ensuite. Additional highlights include 200-amp electrical service, installed EV charger, central A/C, roller blinds throughout, separate side entrance, gas BBQ rough-in, a rec-room-ready basement with enlarged windows and 3-piece bathroom rough-in. Outside, enjoy a fully fenced backyard with rear deck, perfect for relaxing or entertaining. A truly turn-key home where the major upgrades have already been completed - just move in and enjoy.

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(utilities, internet...)
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Closing Costs

Mortgage Amount
$1,159,920
Land Transfer Taxes$25,473
Legal Fees (Est.)
$
Total cash required for closing$316,953

Total Monthly Obligation

$6,694/mo
Mortgage $5,848
Monthly Loss $5,155
Principal$1,539
Interest$4,309
Property Tax$470
Home Insurance$125
Variable Costs$250
Returns
Weight: 25%
Cap Rate
2.6%15
Cash-on-Cash
-10.4%1
5-Year IRR
7.4%20
10-Year IRR
8.5%
Returns Index
11.3/ 100
Growth Sentiment
Weight: 20%
%/yr
Score+50
%/yr
Score+50
%
%
Growth Index
50.0/ 100
GradeD
16/ 100
Avoid•Pass

Strategy: Buy & Hold — Weights: CFI 35% · RI 25%
RKI 20% · GI 20%

Assumptions & Inputs
$/mo
%
$
yr
%
Cash Flow
Weight: 35%
Gross Rent
$53,280/yr
NOI
$37,807/yr
Net Cash Flow
-$2,698/mo
Cash Margin
-60.8%0
Cash Flow Index
0.0/ 100
Risk Profile
Weight: 20%
DSCR
0.545
LTV Ratio
80.0%18
Vacancy Buffer
1.4 mo22
Risk Index
15.4/ 100

*This analysis is independently generated NOT provided by TREB or CREA.

Comparables

Properties near 1602 Severn Drive

Time

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