66 Prospect Street, Newmarket, ON
Central Newmarket, Newmarket · MLS® N13882840
About this home
In short
- Exceptional Investment Opportunity in the Heart of Newmarket with Future Development Potential.
- Rare opportunity to acquire a unique income-producing property comprising a legal triplex at 64-66 Prospect Street together with a charming detached 2-bedroom...
- With two units currently occupied and two vacant, investors can benefit from existing rental income while taking advantage of immediate leasing opportunities, with a...
Exceptional Investment Opportunity in the Heart of Newmarket with Future Development Potential! Rare opportunity to acquire a unique income-producing property comprising a legal triplex at 64-66 Prospect Street together with a charming detached 2-bedroom bungalow at the rear, municipally known as 567 Granby Place, all included in the purchase price. The main building features three units, including commercial office space on the ground floor and two residential apartments above, offering a versatile mix of commercial and residential income streams. With two units currently occupied and two vacant, investors can benefit from existing rental income while taking advantage of immediate leasing opportunities, with a combined potential rental income of approximately $9,000 per month ($108,000 annually), subject to market conditions. Ideally positioned just steps from Southlake Health (formerly Southlake Regional Health Centre) , historic Downtown Newmarket, Main Street's vibrant shops and restaurants, public transit, and the GO Train. Surrounded by ongoing neighbourhood growth and redevelopment activity, this property presents exciting long-term possibilities for investors, developers, and those seeking to expand their real estate portfolios. Multiple income streams offer diversification and attractive investment flexibility. Enjoy the benefits of immediate income potential, a highly desirable central location, and possible future redevelopment or intensification opportunities, subject to municipal approvals and buyer's independent due diligence. A rare opportunity to invest today while positioning yourself for tomorrow's growth!
Key facts
- Property type
- Other, 2 1/2 Storey
- MLS®
- N13882840
- Bedrooms
- 6
- Bathrooms
- 5 (1 half)
- Size
- 3500-5000 sq ft
- Lot
- 70 × 147 ft
- Cross streets
- Prospect & Davis
- Parking
- 8 parking
- Driveway
- Private
- Basement
- Separate Entrance
- Heating
- Forced Air
- A/C
- Wall Unit(s)
- Exterior
- Aluminum Siding
- Foundation
- Concrete Block
- Roof
- Asphalt Shingle
- Sewer
- Sewer
- Property tax
- $13,000 / 2026
- Days on market
- 10
- Listing brokerage
- REMAX YOUR COMMUNITY REALTY
No automatic estimate is shown here: there is not a deep enough record of recent sales of homes like this one in this neighbourhood to support one.
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For sale
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For saleNothing closely matching this home is listed nearby right now, so these are the nearest listings on the market.
Per square foot, these ask about $926/sqft; this home lists at $424/sqft. Size is part of the price story, not just the sticker.
The 5 closest of 8 active listings nearby.
See all comparable homesNeighbourhood & location
Central Newmarket, Newmarket, ON
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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) →
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 4.34% via Ratehub.ca (as of October 20, 2026); conventional rates run a little higher.
Mortgage amount $1,440,000 · 4.49% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $7,962
- Property tax
- $1,083
- Condo / maintenance fees
- $0
- Heating
- $0
- Estimated monthly cost
- $9,045
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $32,475
- Estimated closing costs
- $32,475
Plus your down payment of $360,000. 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
- $477,720
- Principal paid down
- $175,941
- Interest paid
- $301,779
- Balance remaining
- $1,264,059
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
Income potential: the basement has a separate entrance, which often supports a rentable in-law or second suite. That can lift real rent well above the figure above and help carry the mortgage. Ask us about permitted use in this area.
Thinking of this home as an investment? We will pull real comparable rents and run the full numbers with you.
Talk about the numbersEstimates only. Rent is modelled on above-grade size and local norms, so a finished basement or second suite (a separate entrance often means one) can push real rent well above this. Taxes, fees, and vacancy vary by property, and cap rate is before financing. A starting point, not a final number, let us run the real ones with you.
Helpful resources
All information deemed reliable but not guaranteed. For personal, non-commercial use only. Listing courtesy of REMAX YOUR COMMUNITY REALTY. MLS®/PropTx.