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New5 days ago

70 High Street

Queen's Park, Barrie

$775,000

Detached|Bungalow
2 | 1 | 6
About this home

EXCEPTIONAL DEVELOPMENT OPPORTUNITY IN BARRIE'S BOOMING DOWNTOWN CORE! This sought-after location is near the waterfront, public transit, parks, schools, shops, restaurants, and the Lakehead University STEM Hub! The 2-bedroom bungalow is situated on a generous 56' x 196' lot with plenty of parking, excellent visibility, and significant redevelopment potential. Plans have been prepared for a proposed development of up to 9 residential units, offering an exciting opportunity for builders, developers, and investors. Based on the current plans, no zoning relief or Site Plan Approval process is anticipated for the proposed development, given the number of units. The property may therefore be well positioned to proceed toward Building Permit submission, subject to final municipal review and approval. This is an outstanding opportunity to secure a property in Barrie's flourishing downtown core with strong future potential! (Buyers are advised to conduct their own due diligence and verify all zoning, development, servicing, and permit requirements with the municipality)

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agent
Milad Momtaz Azad
(647) 510-8858
TypeDetached
StyleBungalow
Approx. AgeNot available
Size700-1100 sq. ft.
Property Tax$3,925
Lot Size56.75 ft x 196 ft
mls© NumberS13788652
Listed ByRE/MAX HALLMARK CHAY REALTY

Listing History

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  • No recent lease history for this listing.

Could you afford this home?

What the bank counts

This home's actual carrying costs, payment stress-tested at 6%

Mortgage, tested at 6%
$3,967
Property tax
$327
Heat allowance
$150
Housing costs
$4,444 / mo

Lenders cap these at 39% of gross income — that sets the number.

Down payment20% · $155,000
25-yr amortization

Income needed

$137,000

gross annual household income

Payment at 4%
$3,261 / mo
Cash down
$155,000

Assumes no other monthly debts · 25-yr amortization

Full affordability check

Investment Analysis

Estimated rent, cap rate and monthly cash flow for this property

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