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Gorham-College Manor, Newmarket
$1,650,000
Rare opportunity to own a spectacular 70 x 350 ft ravine lot backing onto town-owned open space with a river running through the rear of the property. This bright and well-kept 4-bedroom brick bungalow features an eat-in kitchen with hardwood flooring and a walkout to a deck overlooking the expansive backyard and picturesque ravine setting. The mostly finished basement offers a large recreation room with a wood-burning fireplace, pot lights, a 3-piece bath, workshop area, and an updated 100-amp electrical panel with breakers. Located in one of Newmarket's most desirable and evolving neighbourhoods, just a short walk to Fairy Lake, Historic Downtown Newmarket, Riverwalk Commons, local restaurants, cafés, pubs, and the farmers' market. Enjoy the home as-is, renovate, or take advantage of this exceptional lot to build your dream home in a truly one-of-a-kind setting. A rare offering combining privacy, natural beauty, and outstanding future potential. Potential building plans for a future custom residence may be available for purchase by interested buyers. Building permit application currently in process and nearing completion.
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| Type | Detached |
| Style | Bungalow |
| Approx. Age | 51-99 |
| Size | 1100-1500 sq. ft. |
| Property Tax | $5,581 |
| Lot Size | 70 ft x 350.33 ft |
| mls© Number | N13233836 |
| Listed By | Nucorp Realty International |
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%
- $8,445
- Property tax
- $465
- Heat allowance
- $150
- Housing costs
- $9,061 / mo
Lenders cap these at 39% of gross income — that sets the number.
Income needed
$279,000
gross annual household income
- Payment at 4%
- $6,943 / mo
- Cash down
- $330,000
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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