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Listed 2 months ago

494 Rita's Avenue

Summerhill Estates, Newmarket

$1,080,000

Detached|2-Storey
5 | 5 | 4
About this home

Welcome to Landmark Estates, ideally located in the heart of Newmarket. This beautifully crafted Monaco Model by a reputable local builder offers approximately 1,950 sq. ft. + basement, totalling over 2,500 sq. ft. of thoughtfully designed living space, featuring 5 bedrooms and 4.5 bathrooms. Extended driveway offering ample parking space. A rare and highly functional layout includes a main floor bedroom complete with a 3-piece ensuite-perfect for multi-generational living, accommodating guests, or creating a private home office. The separate entrance adds exceptional versatility, offering strong potential for additional rental income. The main level showcases 9-ft smooth ceilings, an elegant oak staircase, and a well-appointed layout designed for both everyday comfort and entertaining. Upstairs, the spacious primary retreat features a walk-in closet and a luxurious 5-piece ensuite with double sinks, a separate glass shower, and a modern freestanding tub. Situated along Yonge Street, this home offers unmatched convenience with close proximity to Upper Canada Mall, GO Transit, VIVA transit, Highways 400 & 404, top-rated schools, parks, Magna Recreation Centre, and Glenway Golf Club.An exceptional opportunity for families seeking space, flexibility, and a prime Newmarket location.

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agent
Angela Montano
(647) 283-2643
TypeDetached
Style2-Storey
Approx. AgeNot available
Size1500-2000 sq. ft.
Property Tax$6,196
Lot Size29.53 ft x 111.94 ft
mls© NumberN13224094
Listed ByRE/MAX REALTRON 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%
$5,528
Property tax
$516
Heat allowance
$150
Housing costs
$6,194 / mo

Lenders cap these at 39% of gross income — that sets the number.

Down payment20% · $216,000
25-yr amortization

Income needed

$191,000

gross annual household income

Payment at 4%
$4,545 / mo
Cash down
$216,000

Assumes no other monthly debts · 25-yr amortization

Full affordability check

Investment Analysis

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