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Gorham-College Manor, Newmarket
$995,000
Rare opportunity in the heart of Newmarket! Situated on an exceptional 66' x 165' lot with two separate driveways, this unique property offers outstanding flexibility and long-termpotential. An existing concept has been prepared for the construction of two separate detached homes on the property. Buyer to independently verify all development possibilities, zoning requirements, permits, and approvals. The home features a spacious open-concept living and dining area, a custom kitchen with quartz countertops and stainless steel appliances, and an oversized primary bedroom with an ensuite bathroom, two walk-in closets, and in-suite laundry. A large detached garage with electrical service offers excellent potential for a workshop, studio, home office, guest space, or additional future use, subject to approvals. Two separate entrances provide added flexibility for extended family living, potential rental income, or home-based business use. Located just steps from Main Street restaurants and cafés, Fairy Lake Park, the GO Station, and Southlake Hospital. An exceptional opportunity for investors, builders, end users, growing families, or buyers looking for a rare oversized lot with significant long-term potential. Don't Miss This Opportunity!
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| Type | Detached |
| Style | 2-Storey |
| Approx. Age | Not available |
| Size | 1100-1500 sq. ft. |
| Property Tax | $4,717 |
| Lot Size | 66 ft x 165 ft |
| mls© Number | N13565712 |
| Listed By | HOMELIFE FRONTIER 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%
- $5,093
- Property tax
- $393
- Heat allowance
- $150
- Housing costs
- $5,636 / mo
Lenders cap these at 39% of gross income — that sets the number.
Income needed
$173,000
gross annual household income
- Payment at 4%
- $4,187 / mo
- Cash down
- $199,000
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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