$1,295,000 - 316 Penn Avenue, Newmarket
Detached for Sale in Newmarket
134 days on market- MLS Number
- N12477739
- Property Type
- Detached
- Status
- active
- Days on Site
- 134
- Bedrooms
- 4
- Bathrooms
- 2
- Square Feet
- 700 - 1,099 sqft
- Neighbourhood
- Newmarket
- Lot Size
- 7,524 sqft
- Listing Brokerage
- RE/MAX REALTRON REALTY INC.
Welcome to 316 Penn Avenue - a beautifully renovated, move-in ready detached home nestled in one of Newmarket's most desirable communities (Yonge and Davis Dr Intersection). This Meticulously maintained property offers 3+1 bedrooms with a finished walk out basement with high quality finishes and stunning outdoor spaces perfect for family living and entertaining offers comfort, harmony and lasting value with just minutes to Downtown Newmarket Historic Main Street , Upper Canada Mall and high ranking schools. This property has been extensively upgraded from top to bottom with quality craftsmanship and modern finishes. Key exterior upgrades include: new roof with 4 ventilation vents (2021), new windows, front and back doors (2021), new siding with 1.5" aluminum-coated insulation (2021),new soffits, fascia, gutters, and downspouts (2021), privacy fence (2024), and full landscaping(2023). Enjoy outdoor living with a brand-new concrete driveway (2024), full concrete patio with fire pit and gazebo, and two storage sheds. Inside, no detail has been overlooked. Major mechanicals include an owned new high-efficiency Keep rite furnace and central AC (2-ton, 2021), Rheem water heater (2021), new plumbing (2024),and all ductwork/registers (2025). Electrical system completely redone in 2025 with all-new wiring, receptacles, switches, and modern light fixtures. The walk out fully finished large sized basement (2024) features a spacious bedroom, a full bathroom and a TV wall mount. The main floor (2025) boasts a complete renovation with 12mm laminate flooring with padding, a brand-new kitchen with all new appliances, full bathroom, three bedrooms, TV wall mount in the living room, and all-new interior doors. Extras include floating shelves, curtain rods, and pull-down blinds throughout. This home offers peace of mind and stylish living with every major update already done - just move in and enjoy!
Estimate your monthly payments for this property
Estimated Payment
$5,728.22/mo
5-yr fixed avg.
Rates shown are estimates based on typical Ontario 5-year fixed rates. Canadian mortgages use semi-annual compounding as required by law. CMHC insurance applies to purchases under $1.5M with less than 20% down. Estimated property tax uses an approximate 0.85% rate. Contact us for current rate options and pre-approval.
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.
316 Penn Avenue, Newmarket
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Rental income estimator & ROI calculator
Monthly Cash Flow Breakdown
Note: These are estimates only. Actual figures may vary based on market conditions, property condition, and other factors. Consult with a financial advisor for personalized advice.
Joe's Thoughts
Honest perspective from 30+ years of GTA real estate experience
Premium Pricing
At $1850/sqft, this property is priced above the Newmarket average of $950/sqft. I'd want to see upgraded finishes, premium location, or recent renovations to justify this price point. During our showing, I'll point out exactly what you're paying extra for.
Negotiation Opportunity
At 134 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.
Family-Friendly Layout
4 bedrooms hits the sweet spot for most families. You'll have room for 2-3 children plus a home office or guest room. This is the most sought-after configuration for families relocating to Newmarket. Good resale value as demand remains consistent.
Investment Perspective
Looking at this as an investment: Newmarket properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $5,396 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.