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Listed 8 days ago

43 FITTONS Road W

Orillia, Orillia

$499,999

Detached|2-Storey
4 | 2 | 7
About this home

A unique opportunity at 43 Fittons Road West in Orillia, with options for today and exciting possibilities for the future. The existing home is full of character and offers the chance to renovate, restore and make it your own. Enjoy the home and property as it is, with the added benefit of knowing that considerable planning work has already been completed toward redevelopment. For builders, developers and investors, the property is currently in the final stages of severance into 4 individual building lots, with most municipal conditions already satisfied. Committee of Adjustment approval was secured, no plan of subdivision is required, and a registered reference plan and architectural drawings are already in place. The proposed development consists of 4 semi-detached duplexes, creating a total of 8 family-sized units. Build and sell, build and hold, or consider a combination of both. There may also be potential for garden suites, offering another opportunity to add value and generate rental income. Whether your vision is to bring new life to the existing home, pursue the proposed development while current approvals remain in effect, or simply enjoy the property while considering its longer-term potential, there is plenty to explore here. Optional support is also available to assist with permitting, construction sequencing and next steps.

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agent
Angela Montano
(647) 283-2643
TypeDetached
Style2-Storey
Approx. Age100+
Size1500-2000 sq. ft.
Property Tax$4,319
Lot Size91.83 ft x 130.76 ft
mls© NumberS13661072
Listed ByROYAL LEPAGE FIRST CONTACT REALTY

Listing History

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  • No recent lease history for this listing.

Could you afford this home?

What the bank counts

This home's actual carrying costs, payment stress-tested at 6%

Mortgage, tested at 6%
$2,559
Property tax
$360
Heat allowance
$150
Housing costs
$3,069 / mo

Lenders cap these at 39% of gross income — that sets the number.

Down payment20% · $100,000
25-yr amortization

Income needed

$94,000

gross annual household income

Payment at 4%
$2,104 / mo
Cash down
$100,000

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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