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Gorham-College Manor, Newmarket
$839,000
Great investment opportunity ideal for both investors and first-time buyers seeking rental income. Located near fairy Lake and Newmarket's lively Main street. This fully renovated 2+1 bungalow site on a beautiful lot with a large, deep backyard, spacious deck, and plenty of outdoor space. Includes a legal one-bedroom basement apartment with a private entrance, featuring a brand-new kitchen, Laminate flooring, and in-suite laundry-perfect for generating rental income. situated in the desirable Bayview/Leslie business area within a quiet, family-friendly neighborhood. Convenient access to Hwy 404, just 15 minutes to Upper Canada Mall/ Five minutes to No-frills, walk 2 Elementary School/ 3 High school. Spend $140 K in total renovation, New 200 Amp electrical panel, Quality Hardwood Garage opener, new Kitchen, Large deck, living room, Lot window covering, 2 Fridge, 2 Stove, Dishwasher/ 2 Dry. New Roof, Furnace, AC
No extras listed.
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| Type | Detached |
| Style | Bungalow |
| Approx. Age | Not available |
| Size | 700-1100 sq. ft. |
| Property Tax | $4,113 |
| Lot Size | 50 ft x 135 ft |
| mls© Number | N13119954 |
| Listed By | HOMELIFE LANDMARK REALTY INC. |
Listing History
- No recent sale history for this listing.
- No recent lease history for this listing.
Schools
Could you afford this home?
What the bank counts
This home's actual carrying costs, payment stress-tested at 6%
- Mortgage, tested at 6%
- $4,294
- Property tax
- $343
- Heat allowance
- $150
- Housing costs
- $4,787 / mo
Lenders cap these at 39% of gross income — that sets the number.
Income needed
$147,000
gross annual household income
- Payment at 4%
- $3,531 / mo
- Cash down
- $167,800
Assumes no other monthly debts · 25-yr amortization
Full affordability checkInvestment Analysis
Estimated rent, cap rate and monthly cash flow for this property
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