5-Bed Legal Basement Near Markville Mall

Property details for 38 Coleluke Lane, Markham

Type: Residential
Bedrooms: 5
Bathrooms: 4
Lot Size: 24.6 x 95.2 FT
Stories: 2
Basement: Apartment in basement, Separate entrance, N/A, N/A
Parking: Garage
Heating: Forced air, Natural gas
Cooling: Central air conditioning
Exterior: Wood, Brick
Ownership: Freehold
Annual Taxes: $4,545
Condo Fee: $90 / Monthly

Five minutes from Markville Shopping Centre and under a kilometer to Middlefield Collegiate, this semi on Coleluke Lane sits on a quiet crescent in a neighborhood where the median home price is over $1.5 million. At $979,900, you're getting the cheapest place on the street. Main floor runs open with living, dining, and kitchen areas, all hardwood and ceramic, no carpet anywhere. There's a two-car garage and a fully fenced yard with a deck out back. Upstairs, the primary has a walk-in closet and ensuite, plus two more beds and a family room you could easily wall off as a fourth bedroom if you need the space. Real kicker is the basement apartment with a separate entrance. It's got two beds, a great room, and its own kitchen, perfect for rental income or multi-generational living, though you'll want to confirm the legal status since zoning is just 'Residential.' Taxes run about $4,545 a year. Built with wood and brick on a concrete foundation, central air and forced gas heat keep things comfortable. You're a short drive to Costco, and there are several schools within 2 km. Market data shows typical days-on-market at 54, and with only 5 active listings nearby, this one's priced to move fast.

About 38 Coleluke Lane, Markham — Property Score

Well Priced

Score: 66/100

Value

Priced 34.6% below area median of $1,499,000 based on 209 comparable properties nearby 100

Stable pricing - no price changes since original listing date 50

Size

5 bedrooms - 1 more than similarly priced 4-bedroom homes nearby 72

4 bathrooms - typical for similarly priced properties 60

2,342 sqft lot - a compact lot for the area 55

Location

$75K median household income - near the Canadian average of $70K 68

76% of residents hold postsecondary credentials - a highly educated neighbourhood 84

82% homeownership rate - indicating a stable, owner-occupied community 88

42% of residents commute under 30 minutes - good commuting convenience 64

5,231/km² population density - an urban neighbourhood 65

Market

Just listed - area average is 57 days on market 100

-22% median price change over 1 month - declining prices in the area 1

33.8 months of housing supply - 439 active listings with 13 sold last month (buyer's market) 40

Features

2-car garage - area average is 5.6 spots 80

Apartment in basement, Separate entrance, N/A, N/A basement - potential for additional finished space 70

efficient gas forced air heating 80

Central air conditioning - whole-home cooling 90

No premium extras like pool, waterfront, or view 50

Investment

0.46% effective tax rate ($4,544/yr) - very low tax burden 86

18% renter population - primarily owner-occupied area 51

Quality

Condition

Listing

42 photos provided - 11% more than the area average of 38 photos 92

6 of 7 key property details provided (86%) - comprehensive listing with excellent detail 86

* This property score is an approximate estimate based on publicly available data, nearby comparable listings, and automated analysis. Scores are for informational purposes only and should not be relied upon as professional appraisals or investment advice. Actual property values may vary. We recommend consulting a licensed real estate professional for accurate assessments.