



137 Wesley Street
Gorham-College Manor, Newmarket
$988,000
ATTENTION BUILDERS, DEVELOPERS & INVESTORS! Rare Opportunity to Acquire a 100' X 100' Property in the Heart of Newmarket with an Approved 3-Lot Severance, Creating Three Approximately 33' X 100' Lots and Offering the Opportunity to Build Three Detached Homes Side-By-Side in an Established Residential Neighbourhood. Consent and Minor Variance Applications Have Been Approved, With Each Proposed Lot Permitting a Single-Family Home with Provision for One Accessory Dwelling Unit with A Separate Entrance. The Property Is Currently Improved with an Existing Home, Offering the Flexibility to Renovate qnd Retain the Existing Dwelling or Pursue the Approved Redevelopment Opportunity. R1-D Zoning, With Up To 35% Lot Coverage And 8.5m Maximum Building Height, Provides an Attractive Development Framework. Potential Development Charge Credit for the Existing House with Redevelopment. Alternatively, an Approved Two-Lot Configuration of Approximately 50' X 100' Each Is Also Available, Providing Flexibility for Different Development Strategies. Located In a Well-Established and Highly Desirable Newmarket Neighbourhood, Close to Main Street, Newmarket GO Station, Schools, Southlake Hospital and Fairy Lake. Existing Dwelling and All Contents Are Being Sold As-Is, Where-Is. A Rare Opportunity to Acquire a Development-Ready Site with Multiple Options in an Established Newmarket Location..
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| Type | Detached |
| Style | 2-Storey |
| Approx. Age | Not available |
| Size | 1100-1500 sq. ft. |
| Property Tax | $4,944 |
| Lot Size | 100 ft x 100 ft |
| mls© Number | N13698478 |
| Listed By | COLDWELL BANKER THE REAL ESTATE CENTRE |
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%
- $5,057
- Property tax
- $412
- Heat allowance
- $150
- Housing costs
- $5,619 / mo
Lenders cap these at 39% of gross income — that sets the number.
Income needed
$173,000
gross annual household income
- Payment at 4%
- $4,158 / mo
- Cash down
- $197,600
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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