** Price reflects HST rebate credits for qualifying buyers; subject to eligibility. **TO BE BUILT - June 2027! Camellia model is a single family home! This bungalow features an open concept main level filled with natural light, gourmet kitchen, main floor laundry and much more. It also offers a spectacular 3pieces master bedroom Ensuite, a second bedroom, family washroom and laundry room. The basement is unspoiled and awaits your final touches! This home is not built. Construction for June 2027. Possibility of having the basement completed for an extra $32,500. 24Hr IRRE on all offers.
2 bedrooms, 2 bathrooms, about 1,100 sq ft, works out to roughly $534 per square foot, the bed-to-bath ratio is generous. Chat with Zara if you'd like a deeper read on whether this detached fits your budget and timing.
Inside 489 Falcon Lane
Every detail from the listing, in one place.
Type
Detached
Style
Bungalow
Living space
1100-1500 sq ftas stated on the listing
Parking
4 spacesYes garage
Basement
Full, Unfinished
Features & systems
Parking & garage
Garage
Yes
Parking spaces
4
Interior
Basement
Full · Unfinished
Lot & land
Lot size (sqft)
0
Listing & possession
Property style
Bungalow
Property class
Detached
489 Falcon Lane Price & Sale History
Earlier listings of this property, list-price changes, and the most recent annual property tax on the listing.
Independent mortgage broker · OAC · rates subject to change and underwritingMortgage Squad →
Referral disclosure: Summitly may refer you to Mortgage Squad Advisors, an affiliated mortgage partner. You are free to choose any lender or mortgage professional.
Monthly cost
Enter a rate to see the monthly cost
An estimate, not a quote. Utilities and insurance are extra.
Affordability calculator
Estimated monthly payment
$2,886
/mo
based on the purchase price of $587,522
$117,504 cash
$470,018 financed
$395,879 total interest
Principal54%$470,018
Interest46%$395,879
20% down · 25-yr amortization · 5.50% rate. Principal & interest only — taxes, condo fees, and insurance not included.
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Figures are Summitly estimates for illustration only — not from TRREB or the MLS® feed, and not a mortgage approval, appraisal, or financial advice.
Rental income potential
Est. monthly rent
low–high
Gross yield
rent × 12 ÷ price
Cap rate (est.)
net of tax + fees
Summitly AI estimate for discussion only — not from TRREB or the MLS® feed, and not an appraisal or investment advice. Yield and cap rate are derived from the estimated rent versus the asking price.
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Mortgage financing is arranged through Mortgage Squad Advisors. Summitly is the technology platform that powers this site. Estimated values, AI insights, calculator results, and rental projections shown on this page are generated by Summitly and are not provided by, reviewed by, or sourced from TRREB, the MLS®, or the listing brokerage; they are not appraisals or opinions of value. The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by the Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The Coldwell Banker® name and logo are trademarks of Coldwell Banker Real Estate LLC.
Similar homes for sale nearby in Russell
Other 2–4 bed homes for sale in Russell around $588K.
Average days on market50Homes sold in about 50 days on average.
Sale-to-list ratio98.5%On average, homes sold below asking.
Active listings163Homes for sale here right now.
Median vs prior 90 days−3.8%Compared with May 16 – Aug 14, 2026: prices down.
Based on 106 sales from Aug 14 – Nov 12, 2026 (106 in the prior 90 days). Aggregate MLS® figures for closed sales; individual sold prices are shown only to signed-in members.
Questions About 489 Falcon Lane
How much is 489 Falcon Lane listed for?
489 Falcon Lane is listed at $587,522 (MLS® X12899476). Summitly updates the price as soon as the MLS® record changes.
Is $587,522 a good price for 489 Falcon Lane?
Summitly rates it Above Market: the asking price is 5% to 15% above Zara's estimate, an estimate built from recent sales in Russell. The rating is an automated opinion, not an appraisal; "What's it worth?" on this page shows how it is worked out. See Zara's estimate
Has the price of 489 Falcon Lane changed?
Yes — it was first listed at $624,900 and is now $587,522, a drop of $37,378 (6.0%).
How many bedrooms and bathrooms does 489 Falcon Lane have?
489 Falcon Lane has 2 bedrooms and 2 bathrooms, with about 1,100–1,500 square feet of living space. It is a detached home in Russell.
How much would the monthly mortgage be on 489 Falcon Lane?
About $2,886 a month — principal and interest on $587,522 with 20% down ($117,504), a 25-year amortization and an assumed 5.5% interest rate. The mortgage calculator on this page lets you change the down payment, amortization and rate.
How does 489 Falcon Lane compare with other homes in Russell?
Its asking price of $587,522 is about 7% below the median sold price in Russell over the last 90 days, $630,000, across 106 closed sales on the TRREB MLS®. A city median mixes every type and size of home, so the comparable sales on this page are the closer guide.
Has 489 Falcon Lane been sold before?
Summitly has no earlier MLS® sale or lease of 489 Falcon Lane on record from the last two years. Older records aren't shown under TRREB rules.
Where is 489 Falcon Lane?
489 Falcon Lane is in Russell, ON. Schools, transit, parks and shops nearby are under Location & lifestyle on this page.
How long has 489 Falcon Lane been on the market?
238 days — 489 Falcon Lane was listed on March 19, 2026.
What is the price per square foot of 489 Falcon Lane?
About $392 to $534 per square foot: the asking price of $587,522 over the 1,100–1,500 sq ft the listing gives as its size range.
Does 489 Falcon Lane have parking or a garage?
Yes — the listing gives 4 parking spaces. Garage: Yes.
Does 489 Falcon Lane have a basement, and is it finished?
The listing describes the basement as: Full, Unfinished.
