Corner Bungalow with Legal Basement Apartment in Old Town

Property details for 557 Mississagua Street, Niagara On The Lake

Type: Residential
Style: Bungalow
Bedrooms: 4
Bathrooms: 2
Lot Size: 122.3 x 67.7 FT
Stories: 1
Basement: Finished, Full, Separate entrance, N/A, N/A
Parking: Detached Garage, Garage
Heating: Forced air, Natural gas
Cooling: Central air conditioning
Exterior: Brick, Stucco
Ownership: Freehold
Annual Taxes: $4,241

You're two minutes from Queen Street's shops and cafes, yet this corner bungalow feels tucked away behind a tall hedge. The lot spans 122 by 68 feet, giving you room to breathe and a rare double driveway: one off Mississauga, another off Ann. Six cars fit easily, plus there's a detached garage. The main floor has three bedrooms and one bath, with a layout that's straightforward but solid. Brick and stucco exterior, block foundation, central air. It's dated but clean. The real story is downstairs: a fully finished basement with its own entrance, kitchen, family room, bedroom, and bath. High ceilings down there make it feel like a real apartment, not a dungeon. Perfect for renting out or in-laws. You're 4 km from Reif Estate Winery, 2.3 km from Old Fort Niagara, and a short bike to the lake. Listed at $749,000, which is below the area's median of $824k. Comparable homes in this pocket are selling in about 16 days, so it'll move fast. The hedge gives privacy, and the corner lot means no immediate neighbours on two sides. Needs updating, but the bones are good and the income potential is strong. Book a look soon.

About 557 Mississagua Street, Niagara On The Lake — Property Score

Prime Location Feature Rich Well Priced

Score: 66/100

Value

Priced 41.9% below area median of $1,290,000 based on 102 comparable properties nearby 100

Stable pricing - no price changes since original listing date 50

Size

4 bedrooms - 1 more than similarly priced 3-bedroom homes nearby 72

2 bathrooms - 1 fewer than similarly priced properties nearby 48

8,280 sqft lot - a generous lot for the area 78

Location

$86K median household income - above the Canadian average of $70K 73

94% of residents hold postsecondary credentials - a highly educated neighbourhood 99

95% homeownership rate - indicating a stable, owner-occupied community 96

75% of residents commute under 30 minutes - excellent commuter accessibility 90

748/km² population density - a low-density residential area 65

Market

Just listed - area average is 43 days on market 100

-16.3% median price change over 1 month - declining prices in the area 1

45 months of housing supply - 135 active listings with 3 sold last month (buyer's market) 40

Features

6-car garage - area average is 6.6 spots 95

Finished, Full, Separate entrance, N/A, N/A basement - adds valuable living space 85

efficient gas forced air heating 80

Central air conditioning - whole-home cooling 90

No premium extras like pool, waterfront, or view 50

Investment

0.57% effective tax rate ($4,240/yr) - very low tax burden 83

-52.1% area price change year-over-year - significant price correction in Niagara On The Lake 1

5% renter population - primarily owner-occupied area 36

Quality

Condition

Listing

46 photos provided - 18% more than the area average of 39 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.