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Property Type: Detached HouseOwnership: Freehold
88 WOODHAVEN Road
Kitchener, ON N2C1V1
MLS® 40861923
$950,000
6 bed3 bath4 parking1,927 sqftBuilt 1958
Property Details
Property & Lot
- Sub-type
- House
- Style
- Bungalow
- Stories
- 1
- Frontage
- 52 feet
R2
Ownership & Fees
- Property type
- Detached House
- Ownership
- Freehold
- Annual property tax
- $5,609.93
Interior
- Basement
- Finished, Full
- Heating
- Forced air, Natural gas
- Cooling / A/C
- Central air conditioning
Room Dimensions
| Room | Level | Dimensions |
|---|---|---|
| 3pc Bathroom | Main level | — |
| Bedroom | Main level | 10'0'' x 9'5'' |
| Living room | Main level | 13'0'' x 7'4'' |
| Kitchen | Main level | 13'0'' x 9'5'' |
| Laundry room | Basement | 8'3'' x 11'8'' |
| 4pc Bathroom | Basement | — |
| Bedroom | Basement | 12'11'' x 11'5'' |
| Bedroom | Basement | 17'3'' x 10'7'' |
| Kitchen | Basement | 24'3'' x 11'8'' |
| 5pc Bathroom | Main level | — |
| Bedroom | Main level | 11'7'' x 12'1'' |
| Bedroom | Main level | 9'3'' x 9'9'' |
| Primary Bedroom | Main level | 12'8'' x 10'2'' |
| Kitchen/Dining room |
Description
A RARE OPPORTUNITY TO OWN A PROPERTY FEATURING THREE LEGAL UNITS in a friendly, established neighbourhood. Whether you're looking for the perfect multi-generational setup, a mortgage helper, or a turnkey investment, this versatile property offers exceptional flexibility. The main level features a bright, open-concept living and dining area filled with natural light, three generously sized bedrooms, and a full bathroom, creating a comfortable space to call home. The finished lower level is a fully self-contained two-bedroom suite complete with its own kitchen, offering privacy and independence for extended family or rental income. Adding even more value is the detached legal one-bedroom accessory dwelling unit, complete with its own kitchen, bathroom, and in-suite laundry, providing a completely separate living space for family, guests, or tenants. Situated on one of the larger lots in the neighbourhood, measuring approximately 52' x 109', the fully fenced backyard offers generous outdoor space for everyone to enjoy. Ideally located on a quiet street close to schools, parks, shopping, public transit, the ION LRT, and major highways, convenience is right at your doorstep. Recent updates include new flooring throughout, custom built-in cabinetry, a 200-amp electrical service, and an on-demand water heater (2021). Live in the spacious main unit while the two additional legal units help offset a significant portion of your monthly living expenses, create an ideal multi-generational living arrangement where everyone can enjoy their own private space, or take advantage of the property’s full investment potential with projected rental income of approximately $5,600 per month ($67,200 annually). Vendor Take-Back financing is available with a minimum 30% down payment, providing additional flexibility for qualified buyers. With a projected cap rate of over 6%, this is a rare opportunity for both owner-occupiers and investors in today’s market. (id:63159)
Listing Information
- MLS®
- 40861923
- Data last synced
- September 24, 2026
Chestnut Park Realty Southwestern Ontario Limited
Data source: CREA DDF.
CREA DDF® ListingListing Brokerage: Chestnut Park Realty Southwestern Ontario Limited
MLS® Number: 40861923
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
$493/sqft
Building average
—
No other active listings in this building
327 - Fairview/Kingsdale average
$437/sqft
18 active listing(s)
Parking: 4 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: Kitchener-Waterloo
4°C
Mist
Humidity 97%
Wind N 4 km/h
Tonight
6°
Thursday
19°
Thursday night
6°
Friday
12°
Friday night
-2°
Saturday
14°
Source: Environment and Climate Change Canada.
Population
256,885
(2021 Census)
+10.1% since 2016
Similar Listings Nearby
Similar active properties nearby based on property type, price, and size.
Mortgage & Ownership Cost Calculator
Minimum required: 7.4% ($70,000) — 5% under $500K, 10% up to $1.5M, 20% at/above $1.5M.
Financial Ledger
Net mortgage (loan + CMHC insurance)$760,000.00
Periodic payment — Principal & Interest (monthly)$4,903.26
Additional monthly expenses (condo fees, tax, utilities, etc.)$563.49
Total monthly cost$5,466.76
Interest paid over 5-yr term$217,818.18
Balance at end of term$683,622.46
Rates based on Bank of Canada benchmark data.
Financial Summary
Minimum down payment$70,000
Stress test qualifying rate8.19%
Payment you must qualify for$6,823.29
Cash Needed at Closing
Minimum down payment$70,000
Estimated Land Transfer Tax (LTT)$15,475
Legal / closing costs (typical estimate)$1,500
Total cash needed$86,975
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.
