$1,080,000 - 494 Rita's Avenue, Newmarket
Detached for Sale in Newmarket
New — Listed 5 days ago- MLS Number
- N13224094
- Property Type
- Detached
- Status
- active
- Days on Site
- 5
- Bedrooms
- 5
- Bathrooms
- 5
- Square Feet
- 1,500 - 1,999 sqft
- Neighbourhood
- Newmarket
- Listing Brokerage
- RE/MAX REALTRON REALTY INC.
Welcome to Landmark Estates, ideally located in the heart of Newmarket. This beautifully crafted Monaco Model by a reputable local builder offers approximately 1,950 sq. ft. + basement, totalling over 2,500 sq. ft. of thoughtfully designed living space, featuring 5 bedrooms and 4.5 bathrooms. Extended driveway offering ample parking space. A rare and highly functional layout includes a main floor bedroom complete with a 3-piece ensuite-perfect for multi-generational living, accommodating guests, or creating a private home office. The separate entrance adds exceptional versatility, offering strong potential for additional rental income. The main level showcases 9-ft smooth ceilings, an elegant oak staircase, and a well-appointed layout designed for both everyday comfort and entertaining. Upstairs, the spacious primary retreat features a walk-in closet and a luxurious 5-piece ensuite with double sinks, a separate glass shower, and a modern freestanding tub. Situated along Yonge Street, this home offers unmatched convenience with close proximity to Upper Canada Mall, GO Transit, VIVA transit, Highways 400 & 404, top-rated schools, parks, Magna Recreation Centre, and Glenway Golf Club.An exceptional opportunity for families seeking space, flexibility, and a prime Newmarket location.
Estimate your monthly payments for this property
Estimated Payment
$4,777.20/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.
494 Rita's Avenue, Newmarket
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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
Competitive Pricing
At $720/sqft, this is priced below the area average. This could represent genuine value, but let's investigate why. In my experience, underpriced homes often have deferred maintenance, unfavourable layouts, or motivated sellers. I'll help you determine which it is.
Just Listed - Act Strategically
This property hit the market within the last week. In Newmarket's current market, desirable homes often receive multiple offers within 5-7 days. If you're seriously interested, I recommend booking a showing immediately. However, never let urgency override due diligence - we'll still do proper inspections.
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.
Excellent Flexibility
With 5 bedrooms, you have genuine flexibility. Beyond the master and kids' rooms, you can have a dedicated home office, guest room, hobby space, or even rental income potential. In today's work-from-home era, extra bedrooms add significant value. Properties with 5+ bedrooms are relatively rare in Newmarket.
Bathroom Count Matters
With 5 bathrooms, morning routines are much smoother. Multiple bathrooms significantly improve daily livability and are a major selling point for resale. Buyers consistently pay more for adequate bathroom counts - this is a strong feature.
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 $4,500 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.