582 Gorham Street, Newmarket, ON
Gorham-College Manor, Newmarket · MLS® N13686096
About this home
In short
- Unparalleled luxury value in this custom-built home (2025), you won't find any where else in the area.
- Owner-built to satisfy every whim & last for generations, this 4-bedroom, 5washrooms, finished walk-out basement, 2-car garage beauty, offers ~4,800 sqft of total...
- A corner lot fronting on a quieter street w/ a wider driveway.
- A dream designer kitchen with an 8ft centre island w/ built-in wine fridge, Miele Built-in Appliances, Jen-Air Induction Stove, Dacor French-Door Fridge, Quartz...
- Primary bedroom with a 5-piece ensuite, walk-in closet & B/I closet.
What a gem! Unparalleled luxury value in this custom-built home (2025), you won't find any where else in the area. Owner-built to satisfy every whim & last for generations, this 4-bedroom, 5washrooms, finished walk-out basement, 2-car garage beauty, offers ~4,800 sqft of total ultra-luxury living space. A corner lot fronting on a quieter street w/ a wider driveway. Metal roof to last for ages & a shaded fenced side yard w/ interlocking & a BBQ-ready gas connection.10ft ceilings + 20ft foyer, XL windows + a breathtaking glass staircase w/ floating stairs + a modern chandelier. Ample natural lighting + an open concept to accommodate various furniture &generous hosting. A dream designer kitchen with an 8ft centre island w/ built-in wine fridge, Miele Built-in Appliances, Jen-Air Induction Stove, Dacor French-Door Fridge, Quartz Counters &solid-quartz backsplash. Primary bedroom with a 5-piece ensuite, walk-in closet & B/I closet. A Junior Prim. bedroom w/ ensuite, 2 bdrms w/ shared ensuite. Basement feels like a main level w/ a separate entrance, many windows, wall lighting & custom built-in ceiling lighting, built-in ceiling speakers for entertainment (1st floor & bsmt),hydronic heating floors in the whole basement (& in the hallway at the main entrance) a 3-piecebath, sauna, & in-law suite potential. Located at the heart of downtown, surrounded by walking distance: restaurants & shops, festivals, seasonal markets, culture, Southlake Hospital, Pickering College, library, schools &community. Enjoy Fairy Lake, Wesley Brooks Conservation & Tom Taylor Trail, perfect for walking, biking & unwinding. In the winter, Riverwalk Commons transforms into a charming outdoor skating rink, while warmer months bring patios & live music. This house blends refined, elevated living w/ everyday convenience, perfect for those with great taste who love to host &impress while living in a comfortable, thought-out luxury. (Deck photo is a render of a potential deck - not real).
Key facts
- Property type
- Detached, 2-Storey
- MLS®
- N13686096
- Bedrooms
- 4+1 (5 total)
- Bathrooms
- 5 (1 half)
- Size
- 3000-3500 sq ft
- Lot
- 59.4 × 92.18 ft
- Cross streets
- Prospect/Gorham
- Parking
- 2 garage · 5 parking (attached)
- Driveway
- Private Triple
- Basement
- Finished with Walk-Out, Separate Entrance
- Heating
- Forced Air
- A/C
- Central Air
- Exterior
- Stone, Stucco (Plaster)
- Foundation
- Concrete, Poured Concrete
- Roof
- Metal
- Sewer
- Sewer
- Property tax
- $9,861 / 2025
- Days on market
- 34
- Listing brokerage
- SUTTON GROUP-ADMIRAL REALTY INC.
Rooms
vinyl floor · heated floor
vinyl floor · 3 pc bath · side door
combined w/kitchen · backsplash · w/o to yard
hardwood floor · 4 pc ensuite · double closet
hardwood floor · b/i shelves · open concept
hardwood floor · large window · b/i bookcase
staircase · window · closet
hardwood floor · double closet · semi ensuite
vinyl floor · heated floor · window
hardwood floor · open concept · large window
hardwood floor · double closet · semi ensuite
5 pc ensuite · walk-in closet(s) · b/i closet
b/i appliances · centre island · quartz counter
Listed at $1,649,000. Going by how homes in Gorham-College Manor and the wider GTA have actually closed against their asking prices (about 99%, 22 local closings in 90 days), the likely sale price is near $1.63M, if it sells. A realistic range is $1.53M to $1.84M.
Independent value check: $1.73M. Without looking at the asking price, our model values the home itself about 5% above the ask (homes like it typically land between $1.62M and $1.82M).
Why $1.73M. The typical detached home sold in Gorham-College Manor over the past year went for about $1.04M (72 sales). What sets this one apart:
- ▲ Raises it stronglyIts tax bill, which follows the city's own assessment, is $9,861 a year; the typical home sold here pays about $5,500.
- ▲ Raises it stronglyIt is 3,000 to 3,500 sq ft; the typical home sold here is 1,500 to 2,000.
- ▲ Raises it slightly4+1 bedrooms and 5 baths, against 3+1 and 3 typically.
- ▲ Raises it slightlyThe listing describes it as fully renovated or newly built.
Total price vs nearby homes. Likely closing about $1.63M, from 22 recent closings in this pocket.
The market behind the math:
About 1.6 months of inventory: 12 detached homes for sale in the area against 22 closings in the last 90 days. Under two months favours sellers, over four favours buyers.
Price per square foot: this home lists at $507/sqft against an area asking average of $506/sqft.
- Corner lot. Two street frontages: more to landscape, shovel and mow, and more exposure to traffic, wind and headlights at night. Buyers price that against an interior lot on the same street, so I read this one on the cautious side and confirm the setting in person.
- Walk-out basement apartment features. A finished 1 bed walk-out basement apartment with a separate entrance. A self-contained space for extended family, guests or potential income. Basements do rent in Gorham-College Manor: 28 of the 109 detached leases here lately were basement units, around $1,880 a month. That makes the suite real income. Second-suite retrofit status is not verified. A buyer intending to rent should confirm requirements with the Town of Newmarket.
How this estimate is builtthe short version
This figure comes from a model built on about 44,000 recent GTA sales. It weighs this home’s tax assessment, size, age, location and features against what homes like it actually sold for, including sales in this neighbourhood.
It never sees the asking price. The 22 most comparable recent sales on their own, adjusted for size, beds, baths and lot, point to about $1.47M. Condition and finishes remain an in-person call.
What the listing highlights5 points to weigh
Claims from the listing, worth confirming in person. I can book you a private showing.
- Separate entrance / basement suite: rental or in-law income potential, if it is legally registered and retrofit-compliant. Income potential
- Walk-out basement: natural light and strong in-law or income potential. Income potential
- Upscale kitchen: a genuine value driver, verify the appliances, stone, and finishes in person. Value driver
- Primary suite: a key comfort and resale feature. Lifestyle
- Open-concept layout: modern, sought-after flow. Lifestyle
Schools & getting aroundcatchment and transit
The assigned public school is Huron Heights SS. EQAO is only one input, and families here also look at French Immersion, boundary, and private options, the full breakdown is below.
Read this with carewhy it’s an estimate, not an appraisal
There were not many closely comparable homes right in Gorham-College Manor, so I widened the search to the surrounding area.
Based on 22 comparable homes that sold in Gorham-College Manor over the past two years, from 135 closings there.
Nothing closely matching this home is listed nearby right now, so these are the nearest detached listings on the market. Homes like this one have recently closed around $1.73M, which is where my estimate comes from.
Per square foot, these ask about $423/sqft; this home lists at $507/sqft. Size is part of the price story, not just the sticker.
The 3 closest active listings nearby.
See all comparable homesNeighbourhood & location
Gorham-College Manor, Newmarket, ON
Enter a workplace or destination and we’ll show the door-to-door time by car, transit and bike.
How asking prices compare in the closest areas to this home. Longer bars mean a pricier market.
Typical asking price of active listings of the same type, per area (outliers removed). Newmarket.
Get the full neighbourhood report (schools, parks, transit & safety) →
The public and Catholic schools this address is zoned for, with EQAO results (the share of students meeting Ontario's provincial standard).
School attendance boundaries and EQAO results are Ontario government data and can change. Confirm the current catchment with the school board before relying on it.
Also nearby: 12 more schools within 2.5 km
Not the assigned catchment: schools a family here could reach, with EQAO results where published.
Affordability & Mortgage
Income needed assumes a ~32% GDS ratio; weekly is mortgage principal & interest only. Price ÷ income is the home price over the income needed. Fixed reference assumptions so listings compare on equal footing, not a lending decision.
Calculate and customize your mortgage and other expenses
Adjust the down payment, rate, and amortization, and add property tax, condo fees, and heating to see your true monthly cost.
Your numbers
Homes over $1.5M can't be insured, so 20% down or more is required.
Conventional (20%+ down). Best insured 5-year fixed 4.24% via Ratehub.ca (as of September 21, 2026); conventional rates run a little higher.
Mortgage amount $1,319,200 · 4.39% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $7,221
- Property tax
- $822
- Condo / maintenance fees
- $0
- Heating
- $0
- Estimated monthly cost
- $8,043
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $29,455
- Estimated closing costs
- $29,455
Plus your down payment of $329,800. Legal fees, title insurance, and adjustments are extra and vary by deal.
Mortgage stress test
Lenders qualify you at the greater of your rate plus 2% or 5.25%. You do not pay this rate. It just shows you could still handle payments if rates rose, so aim to stay comfortable at this higher number.
Over the full 25 years
At the end of your 5-year term
- Total paid over the term
- $433,258
- Principal paid down
- $163,109
- Interest paid
- $270,148
- Balance remaining
- $1,156,091
Talk to Team Asgarian about your options
Rates and programs change often. We will connect you with a trusted mortgage professional and build a plan that fits your budget and goals.
Estimates only, not a mortgage quote or pre-approval. Figures use Canadian semi-annual compounding, current minimum down-payment rules, CMHC premium tiers, and Ontario (plus Toronto, when selected) land transfer tax. Actual rates, taxes, insurance, and closing costs vary by lender and property. Confirm every number with your mortgage professional.
Investor snapshot
The suite is real income here: basements rent in Gorham-College Manor (28 of 109 recent detached leases were basement units, around $1,880 a month). The figure above is the whole house on one lease; rented as two units, the suite alone brings about $1,880 a month on top of the upper floors. Permitted use is worth confirming with the city.
Thinking of this home as an investment? We will pull real comparable rents and run the full numbers with you.
Talk about the numbersThe last 11 whole-home leases in Gorham-College Manor signed at a median of $3,460 a month; adjusted to this home for size, beds and baths, and for where rents stood the month each signed, that is $4,468. The gross yield above is on the asking price, before taxes and upkeep; the cap rate is after them. A finished basement or second suite can push real rent above it. Taxes, fees, and vacancy vary by property, and cap rate is before financing.
Helpful resources
All information deemed reliable but not guaranteed. For personal, non-commercial use only. Listing courtesy of SUTTON GROUP-ADMIRAL REALTY INC.. MLS®/PropTx.