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Central Newmarket, Newmarket
$699,000
A rare opportunity to acquire a property backing directly onto Fairy Lake in one of Central Newmarket's most established and desirable neighbourhoods. Surrounded by mature trees and just steps from the trails, parks, restaurants, cafés and shops of Historic Main Street, this exceptional setting offers a combination of nature, privacy and walkability that is difficult to replicate.The existing residence requires substantial renovation and presents an ideal opportunity for a builder, renovator or end user with vision. Completely reimagine the current home through an extensive renovation and addition, or demolish the dwelling and design a custom-built residence that takes full advantage of the remarkable setting.The property is being sold in "as is, where is" condition, without representations or warranties. Buyers are responsible for completing their own due diligence regarding the condition of the property and the feasibility of any renovation, addition, demolition or new construction.An extraordinary opportunity to create a one-of-a-kind home backing onto Fairy Lake, moments from the heart of downtown Newmarket.
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| Type | Detached |
| Style | 1 1/2 Storey |
| Approx. Age | Not available |
| Size | 1100-1500 sq. ft. |
| Property Tax | $4,431 |
| Lot Size | 32.5 ft x 179.23 ft |
| mls© Number | N13639046 |
| Listed By | RE/MAX REALTRON 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%
- $3,578
- Property tax
- $369
- Heat allowance
- $150
- Housing costs
- $4,097 / mo
Lenders cap these at 39% of gross income — that sets the number.
Income needed
$126,000
gross annual household income
- Payment at 4%
- $2,942 / mo
- Cash down
- $139,800
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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