$995,000 - 634 Gorham Street, Newmarket
Detached for Sale in Newmarket
New — Listed 5 days ago- MLS Number
- N13243096
- Property Type
- Detached
- Status
- active
- Days on Site
- 5
- Bedrooms
- 5
- Bathrooms
- 3
- Square Feet
- 1,100 - 1,499 sqft
- Neighbourhood
- Newmarket
- Listing Brokerage
- HOMELIFE FRONTIER REALTY INC.
Attention Investors, Builders & End Users! Rare opportunity in the heart of Newmarket on an exceptional 66' x 165' lot with two separate driveways and endless future potential. Existing concept for the construction of two separate homes on the property (buyer to verify all development possibilities independently). This property offers a spacious open-concept living/dining area, custom kitchen with quartz countertops, stainless steel appliances, oversized primary bedroom with ensuite bathroom, two walk-in closets and in-suite laundry. The large detached garage with electrical service offers excellent potential for a workshop, studio, home office, guest space, or additional future use, subject to approvals. Two separate entrances provide flexibility for extended family living, rental income, or home-based business use. Located just steps to Main Street restaurants and cafes, Fairy Lake Park, GO Station, and Southlake Hospital. Ideal for investors, builders, growing families, or buyers looking for a rare oversized lot with long-term potential. Property Being Sold In As Is Condition. Don't Miss This Opportunity!
Estimate your monthly payments for this property
Estimated Payment
$5,104.87/mo
Includes CMHC insurance ($27,761)
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.
634 Gorham Street, 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
Fair Market Value
At $905/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.
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 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 $4,146 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.