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Property Type: Detached HouseOwnership: Freehold
176 RIVERBANK Drive
Cambridge, ON N3H4R6
MLS® 40844408
$1,490,000
4 bed2 bath14 parking2,571 sqftBuilt 1969
Property Details
Property & Lot
- Sub-type
- House
- Style
- Bungalow
- Stories
- 1
- Frontage
- 121 feet
RR2
Ownership & Fees
- Property type
- Detached House
- Ownership
- Freehold
- Annual property tax
- $6,395
Interior
- Basement
- Finished, Full
- Heating
- Forced air, Natural gas
- Cooling / A/C
- Central air conditioning
Room Dimensions
| Room | Level | Dimensions |
|---|---|---|
| Other | Basement | 12'7'' x 4'10'' |
| Bedroom | Basement | 12'10'' x 10'7'' |
| Utility room | Basement | 5'9'' x 10'9'' |
| Storage | Basement | 6'4'' x 4'11'' |
| Storage | Basement | 7'11'' x 3'7'' |
| Recreation room | Basement | 12'11'' x 11'4'' |
| Laundry room | Basement | 12'11'' x 11'4'' |
| Family room | Basement | 13'2'' x 11'3'' |
| 3pc Bathroom | Basement | 7'0'' x 5'0'' |
| Sunroom | Main level | 10'10'' x 18'5'' |
| Living room | Main level | 20'1'' x 11'2'' |
| Kitchen | Main level | 12'6'' x 8'1'' |
| Dining room | Main level | 13'2'' x 11'8'' |
Description
This property offers the unique potential for severance into two separate lots, allowing for the opportunity to build a new home on this extraordinary, serene 1.06-acre lot or add a second dwelling, with the owner having already initiated the severance inquiries and process. The seller even has a dream house plan ready to go if you’re interested in making this vision a reality! Imagine living on a secluded, tree-lined estate right within the city. 176 Riverbank Drive offers a tranquil sanctuary featuring a 3+1 bedroom bungalow spanning around 2,600 sqft of living space with a fully finished walkout basement. The serene lot gently slopes down to the Grand River, creating a private haven of peace surrounded by lush, mature trees and meticulously landscaped grounds. Step inside to find rich parquet hardwood floors, expansive windows flooding the space with natural light, and a cozy fireplace. Sliding glass doors from the dining room open to a generous deck with stunning views of your private yard. The updated kitchen is a dream, featuring elegant maple cabinetry, granite countertops, a stylish backsplash, and stainless-steel appliances, while a delightful, sun drenched sunroom provides the perfect spot for morning coffee. The home features three spacious bedrooms, including a serene primary suite, and an updated family bathroom. The finished lower level offers a large fourth bedroom, a full bath, an office nook, an oversized laundry room, generous storage, and a garden walkout leading to your backyard retreat. For those with recreational vehicles, the expansive driveway offers ample parking and plenty of room to store a boat or trailer. Conveniently located near major highways, Chicopee Ski & Summer Resort, and Fairview Mall, this property perfectly balances peaceful living with city convenience. Notable updates include the roof (2014), water softener (2011), furnace and AC (2015), updated kitchen/bathrooms, and a Venmar HRV HEPA filter system (2010). Don't miss it! (id:63161)
Listing Information
- MLS®
- 40844408
- Data last synced
- October 29, 2026
Smart From Home Realty Limited
Data source: CREA DDF.
CREA DDF® ListingListing Brokerage: Smart From Home Realty Limited
MLS® Number: 40844408
Listing data is sourced from CREA DDF®, the Canadian Real Estate Association (CREA) Data Distribution Facility. Listing information is deemed reliable but is not guaranteed accurate by CREA or the listing brokerage. Data provided courtesy of Cornerstone Association of REALTORS®.
Values & Trends
This listing
$580/sqft
Building average
—
No other active listings in this building
56 - Maple Grove, Riverbank, Royal Oak average
$295/sqft
2 active listing(s)
Parking: 14 stall(s) includedStorage locker: Not indicated
Per-stall/locker dollar values aren't itemized in our data source — shown as included/not indicated only, not a fabricated estimate. $/sqft averages are computed live from other active listings, not a third-party model.
Location Insights
Weather
Nearest station: Guelph
5°C
—
Humidity 95%
Wind NNE calm km/h
Tonight
6°
Thursday
19°
Thursday night
6°
Friday
12°
Friday night
-2°
Saturday
14°
Source: Environment and Climate Change Canada.
Population
139,163
(2021 Census)
+6.6% since 2016
Density:
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Mortgage & Ownership Cost Calculator
Minimum required: 8.3% ($124,000) — 5% under $500K, 10% up to $1.5M, 20% at/above $1.5M.
Financial Ledger
Net mortgage (loan + CMHC insurance)$1,192,000.00
Periodic payment — Principal & Interest (monthly)$7,690.38
Additional monthly expenses (condo fees, tax, utilities, etc.)$661.92
Total monthly cost$8,352.30
Interest paid over 5-yr term$341,630.63
Balance at end of term$1,072,207.86
Rates based on Bank of Canada benchmark data.
Financial Summary
Minimum down payment$124,000
Stress test qualifying rate8.19%
Payment you must qualify for$10,591.61
Cash Needed at Closing
Minimum down payment$124,000
Estimated Land Transfer Tax (LTT)$26,275
Legal / closing costs (typical estimate)$1,500
Total cash needed$151,775
Minimum down payment: 5% on the first $500,000, 10% on the portion up to $1.5M, 20% at/above $1.5M. Stress test: OSFI's minimum qualifying rate, the greater of contract rate + 2% or 5.25% — this is what lenders require you to qualify at, not what you'll actually pay. Closing costs are a typical-range estimate, not a quote — actual legal fees vary. Land Transfer Tax is the Ontario provincial schedule, before any first-time buyer refund; only the City of Toronto charges a municipal land transfer tax on top, so none applies in the areas this site covers (Ontario Ministry of Finance, ontario.ca/document/land-transfer-tax, as of October 28, 2026). Verify all figures with a mortgage broker and lawyer before relying on them.
