$1,080,000 - 56 Millard Avenue, Newmarket
Detached for Sale in Newmarket
55 days on market- MLS Number
- N12996086
- Property Type
- Detached
- Status
- active
- Days on Site
- 55
- Bedrooms
- 9
- Bathrooms
- 3
- Square Feet
- 1,100 - 1,499 sqft
- Neighbourhood
- Newmarket
- Listing Brokerage
- LSG REALTY INC.
Exceptional income-generating opportunity in the heart of Newmarket! Spacious raised bungalow offering the potential to operate as two separate rental units as well as a legal basement, making it an outstanding investment property or ideal for buyers looking to live in one unit while generating strong rental income from the others. The main level features 4 bright bedrooms, an open-concept living and dining area, and a modern kitchen with walk-out to a private deck. The fully finished lower level includes a self-contained 2-bedroom apartment with separate entrance and private laundry, with layout flexibility that allows for multiple rental configurations. Fully renovated from top to bottom, inside and out, this property is move-in ready and perfectly suited for investors seeking multiple income streams. Located in a prime Newmarket location just minutes from Yonge Street, Upper Canada Mall, schools, parks, transit, and major highways. A rare opportunity to own a versatile property with excellent cash flow potential.
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.
56 Millard 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
Fair Market Value
At $982/sqft, this property is priced in line with current Newmarket market conditions. The pricing suggests the seller has done their homework. We may have modest room for negotiation, typically 2-4% in today's market.
Negotiation Opportunity
At 55 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.
Excellent Flexibility
With 9 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 3 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.