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Gorham-College Manor, Newmarket
$659,000
55+ COMMUNITY - LAND LEASE. Beautifully updated detached bungalow located in Leisure Valley, a LAND LEASE community designed for residents aged 55+ who value peaceful, low-maintenance living. Nestled on a quiet cul-de-sac, this move-in-ready home offers current monthly land lease, maintenance, and property tax reimbursement totaled just $1,006.83.Featuring 2+1 bedrooms, 1.5 bathrooms, convenient main floor laundry, and a fully finished basement,this home offers the comfort of one-level living with plenty of additional space for guests, hobbies, or a home office.Thoughtfully updated over the years, you'll appreciate the renovated kitchen, stunning main floor bathroom featuring heated floors and a walk-in shower, updated main floor flooring, newer windows and patio doors, high-efficiency furnace, heat pump, refreshed front landscaping, and a spacious composite rear deck. The finished basement provides additional living space, while the cozy electric fireplace creates the perfect place to relax.Step through the living room walkout onto the private composite deck-an ideal setting for morning coffee or entertaining family and friends.Leisure Valley offers a welcoming community atmosphere just minutes from shopping, restaurants,Southlake Regional Health Centre, parks, walking trails, transit, and Newmarket's vibrant Main Street.Lovingly maintained and extensively updated, this exceptional home is truly move-in ready and offers the perfect combination of comfort, convenience, and carefree living.(Fees include snow removal, grass cutting and exterior maintenance as per the Lease Agreement.)
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| Type | Detached |
| Style | Bungalow |
| Approx. Age | 31-50 |
| Size | 700-1100 sq. ft. |
| Property Tax | --- |
| Lot Size | 0 ft x 0 ft |
| mls© Number | N13667054 |
| Listed By | ROYAL LEPAGE SIGNATURE REALTY |
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 estimated carrying costs, payment stress-tested at 6%
- Mortgage, tested at 6%
- $3,373
- Property tax (estimated)
- $0
- Heat allowance
- $150
- Housing costs
- $3,523 / mo
Lenders cap these at 39% of gross income — that sets the number.
Income needed
$108,000
gross annual household income
- Payment at 4%
- $2,773 / mo
- Cash down
- $131,800
Assumes no other monthly debts · 25-yr amortization
Full affordability checkInvestment Analysis
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