874 Sparrow Road
Gorham-College Manor, Newmarket
$1,049,900
Attention Investors & Savvy Homebuyers! Incredible turnkey income property showcasing approx. 2,800 sq ft of total finished living space. This exceptionally well-maintained home features an ideal layout with excellent, stable tenants already in place generating gross rental income of $4,500/month (Upstairs: $2,600, Lower: $1,900). The bright and spacious principal residence features an updated kitchen (2016), neutral decor, and vinyl windows. The lower level boasts a fantastic basement apartment with a separate kitchen (2016). Enjoy peace of mind with extensive big-ticket upgrades: Brand New Deck, A/C (2022), Furnace (2019), and Shingles replaced 8 years ago. A rare, high-yield asset in a prime location. Nothing to do but collect rent!
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| Type | Detached |
| Style | Backsplit 5 |
| Approx. Age | Not available |
| Size | 1500-2000 sq. ft. |
| Property Tax | $5,466 |
| Lot Size | 50 ft x 110 ft |
| mls© Number | N13552240 |
| Listed By | HOMELIFE LANDMARK REALTY INC. |
Listing History
- No recent sale history for this listing.
- No recent lease history for this listing.
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Could you afford this home?
What the bank counts
This home's actual carrying costs, payment stress-tested at 6%
- Mortgage, tested at 6%
- $5,374
- Property tax
- $456
- Heat allowance
- $150
- Housing costs
- $5,979 / mo
Lenders cap these at 39% of gross income — that sets the number.
Income needed
$184,000
gross annual household income
- Payment at 4%
- $4,418 / mo
- Cash down
- $209,980
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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