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New1 day ago

986 Srigley Street

Gorham-College Manor, Newmarket

$1,750,000

Detached|Bungalow
5 | 3 | 4
About this home

Rare Legal Triplex on an Exceptional 80 x 187 Ft Lot! House hacking at its best. Live in the spacious 3-bedroom main-floor residence while renting out the two self-contained legal1-bedroom walkout units to help offset your mortgage, or take advantage of all three residences as an income-producing property. A rare opportunity to combine homeownership with built-in rental income!Fully renovated, professionally designed and completed as a fully permitted legal triplex, with three completely independent residences, private entrances and no shared interior living spaces.The bright and spacious main-floor residence features 3 bedrooms, open-concept living and dining areas, a gas fireplace, a thoughtfully designed kitchen with sleek cabinetry and stainless-steel appliances, plus a private rear deck overlooking the landscaped backyard.The two legal lower-level residences each feature 1 bedroom, a private walkout entrance,European-style cabinetry, stainless-steel appliances and ensuite laundry, making them ideal for long-term rental income.Thoughtfully converted with enhanced acoustic separation between residences and meticulous attention to quality throughout. Additional features include professionally installed Wifi Infrastructure with dedicated access points and on-site EV charging.Sitting on an exceptionally rare 80 x 187 ft lot, the property also offers tremendous outdoor space and intriguing future potential, including the possibility of exploring a garden suite,subject to municipal approvals and applicable zoning.Ideally located near Historic Main Street, Fairy Lake, Riverwalk Commons, Newmarket GO,Southlake Health, parks, schools, shopping and Highway 404.Live in one. Rent the others. Let your property help pay the mortgage.

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agent
Jonathan Lee
(647) 983-0770
TypeDetached
StyleBungalow
Approx. AgeNot available
Size2000-2500 sq. ft.
Property Tax$5,634
Lot Size80.05 ft x 187.58 ft
mls© NumberN13772334
Listed ByROYAL LEPAGE SIGNATURE REALTY

Listing History

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  • 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%
$8,957
Property tax
$469
Heat allowance
$150
Housing costs
$9,577 / mo

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

Down payment20% · $350,000
25-yr amortization

Income needed

$295,000

gross annual household income

Payment at 4%
$7,364 / mo
Cash down
$350,000

Assumes no other monthly debts · 25-yr amortization

Full affordability check

Investment Analysis

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