















479 Newman Avenue
3502 - Overbrook/Castle Heights, Overbrook - Castleheights and Area
$778,000
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.
No extras listed.
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| Type | Detached |
| Style | Bungalow |
| Approx. Age | Not available |
| Size | 700-1100 sq. ft. |
| Property Tax | $4,157 |
| Lot Size | 55.71 ft x 100 ft |
| mls© Number | X13614652 |
| Listed By | RE/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.
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 checkInvestment Analysis
Estimated rent, cap rate and monthly cash flow for this property
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