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479 Newman Avenue

3502 - Overbrook/Castle Heights, Overbrook - Castleheights and Area

$778,000

Detached|Bungalow
2 | 2 | 4
About this home

Development opportunity on a premium 55.71 ft x 100 ft lot located on a quiet cul-de-sac in the desirable Overbrook neighbourhood. Rare chance to acquire a well-sized lot in an established area experiencing ongoing redevelopment and strong growth. The existing 2+1 bedroom home with two full bathrooms and a finished basement is being sold strictly for land value. The property presents an excellent opportunity for redevelopment or a custom build in a neighbourhood seeing increasing new construction and investment (buyer to perform their own due diligence). Ideally situated in a location offering quick access to downtown Ottawa, the Rideau River, scenic walking and cycling pathways, parks, and green space. Close proximity to the University of Ottawa, St. Laurent Shopping Centre, schools, public transit, and Highway 417 adds to the strong redevelopment appeal of this central location. Property being sold in "as is, where is" condition. The seller makes no representations or warranties.

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BrokerHub Inc.
(647) 254-1864
TypeDetached
StyleBungalow
Approx. AgeNot available
Size700-1100 sq. ft.
Property Tax$4,157
Lot Size55.71 ft x 100 ft
mls© NumberX13614652
Listed ByRE/MAX HALLMARK REALTY GROUP

Listing History

  • No recent sale history for this listing.
  • 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%
$3,982
Property tax
$346
Heat allowance
$150
Housing costs
$4,479 / mo

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

Down payment20% · $155,600
25-yr amortization

Income needed

$138,000

gross annual household income

Payment at 4%
$3,274 / mo
Cash down
$155,600

Assumes no other monthly debts · 25-yr amortization

Full affordability check

Investment Analysis

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

Values and trends

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