$1,500/mo - 116 Cherrywood Drive Unit BSMT 1, Newmarket
Detached for Rent in Newmarket
105 days on market- MLS Number
- N12798512
- Property Type
- Detached
- Status
- active
- Days on Site
- 105
- Bedrooms
- 1
- Bathrooms
- 1
- Square Feet
- 700 - 1,099 sqft
- Neighbourhood
- Newmarket
- Listing Brokerage
- RIGHT AT HOME REALTY
Open-concept 1-bedroom Fully Furnished basement apartment in a well-maintained, smoke-free bungalow, perfectly located in the heart of Newmarket. Modern laminate floors and potlights throughout. Private 3-piece ensuite. The kitchen offers quartz countertop and backsplash, includes a breakfast area and is combined with living room. Home is steps away from Upper Canada Mall, Newmarket & East Gwillimbury GO Stations, Costco and Fairy Lake. You're also within walking distance to public transit, schools, parks, grocery stores and shopping centres. A short drive takes you to Southlake Regional Hospital and Highways 400 & 404. Ideal for a single professional or couples looking for convenience and access to all amenities. Tenant pays 25% utilities. Internet is included.
Discover Newmarket
Newmarket is a vibrant community in the Greater Toronto Area, offering excellent amenities, schools, and transportation options. This area is popular with families and professionals seeking a balanced lifestyle with access to urban conveniences and natural spaces.
Why Live in Newmarket
- •Convenient location in Newmarket
- •Access to local shops and dining
- •Good public transit connections
- •Community parks and green spaces
- •Well-maintained neighbourhoods
Nearby Schools
Transit & Commuting
- •MiWay bus routes throughout the area
- •GO Transit stations within driving distance
- •Easy highway access to 401/403/QEW
- •Walking distance to local amenities
Parks & Amenities
- •Local parks and recreational facilities
- •Community centres
- •Shopping plazas nearby
- •Restaurants and cafes
Lifestyle & Community
Newmarket offers a wonderful quality of life with a mix of residential charm and urban convenience. Residents enjoy easy access to schools, parks, and shopping, making it an ideal location for families and professionals alike.
116 Cherrywood Drive Unit BSMT 1, Newmarket
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How this lease stacks up against the local rental market
Estimated Monthly Budget
Things to Confirm Before Signing
· Are utilities included, or separate?
· How many parking spots are included?
· Is the landlord open to a 1-year or 2-year lease?
· Are pets and small renovations (paint, hooks) allowed?
· When was the last rent increase, if there is a prior tenant?
Utility estimates are approximate and vary by season, habits, and what the landlord includes. Always confirm inclusions with the listing agent.
Joe's Thoughts
Honest perspective from 30+ years of GTA real estate experience
Competitive Rent
At $1,500/mo, this is priced below the typical 1-bedroom rent of ~$2,300/mo in Newmarket. Well-priced rentals move fast — worth acting on. That said, let's check what's driving the lower ask: landlord flexibility, lease term restrictions, or simply a motivated landlord.
Negotiation Opportunity
At 105 days on site, this property has exceeded the typical selling timeline for Newmarket. This creates leverage for buyers. The seller may be motivated by carrying costs, life circumstances, or previous deals falling through. I'd recommend a strategic offer below asking with terms that favour you.
Detached Home Advantages
Detached homes in Newmarket are increasingly scarce and valuable. You'll have no shared walls, full control over renovations, and typically stronger appreciation. Consider the lot size and potential for future additions or basement apartment income. Detached homes also offer the most flexibility for growing families.
Efficient Living
At 700 sqft, this is a more compact space. The upside: lower utility bills, less maintenance, and easier cleaning. Consider how you'll use the space - built-in storage, multi-functional furniture, and good organization become important. Great for singles, couples, or those who prefer a low-maintenance lifestyle.
Lease Terms to Negotiate
Don't just focus on the monthly rent — the lease terms matter just as much. I always advise my rental clients to clarify: what's included (parking, storage, utilities), the lease length options, the landlord's policy on renewals, and whether small personalizations like painting are permitted. These details can make or break your experience over 12–24 months.
Let's Walk Through It Together
Photos can't tell you about traffic noise, natural light at different times of day, or how well the landlord maintains the property. When we view it together, I'll assess the condition of appliances, HVAC, and finishes — and flag anything that might become a headache. I'll also help you understand the lease terms before you sign anything.