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New9 hours ago

412 Andrew Street

Central Newmarket, Newmarket

$699,000

Detached|1 1/2 Storey
4 | 2 | 4
About this home

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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agent
Angela Montano
(647) 283-2643
TypeDetached
Style1 1/2 Storey
Approx. AgeNot available
Size1100-1500 sq. ft.
Property Tax$4,431
Lot Size32.5 ft x 179.23 ft
mls© NumberN13639046
Listed ByRE/MAX REALTRON REALTY INC.

Listing History

  • No recent sale history for this listing.
  • No recent lease history for this listing.

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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.

Down payment20% · $139,800
25-yr amortization

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 check

Investment Analysis

Estimated rent, cap rate and monthly cash flow for this property

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