648 Gorham Street
Gorham-College Manor, Newmarket
$788,000
Self-contained residence boasting significant Income property, situated on an expansive 66 x166 ft lot. Ideal for both prospective homeowners and investors, this property offers two driveways, enhancing versatility and rental income opportunities. Located in a sought-after neighborhood with close proximity to schools, hospital, and public transit. The property generates nearly over $6,000 in net income, allowing you to live comfortably while rental income helps cover your mortgage. Featuring five reliable tenants and numerous upgrades, this home presents promising future possibilities in a prime location.
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| Type | Detached |
| Style | 2-Storey |
| Approx. Age | Not available |
| Size | 2500-3000 sq. ft. |
| Property Tax | $4,289 |
| Lot Size | 66 ft x 165 ft |
| mls© Number | N13752864 |
| Listed By | RE/MAX REALTRON REALTY INC. |
Listing History
- No recent sale history for this listing.
- No recent lease history for this listing.
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Could you afford this home?
What the bank counts
This home's actual carrying costs, payment stress-tested at 6%
- Mortgage, tested at 6%
- $4,033
- Property tax
- $357
- Heat allowance
- $150
- Housing costs
- $4,541 / mo
Lenders cap these at 39% of gross income — that sets the number.
Income needed
$140,000
gross annual household income
- Payment at 4%
- $3,316 / mo
- Cash down
- $157,600
Assumes no other monthly debts · 25-yr amortization
Full affordability checkInvestment Analysis
Estimated rent, cap rate and monthly cash flow for this property
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