494 Rita's Avenue, Newmarket, ON
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Property Highlights
Welcome to this remarkable 2-Storey detached located in the coveted neighborhood of Summerhill Estates. Expertly crafted featuring premium brick construction, this residence presents an exceptional opportunity offered at $1,180,000 to acquire a beautiful home in a highly sought-after setting. Designed for both comfortable daily living and elegant entertaining, the layout maximizes natural light, functional flow, and lifestyle utility.
- 5 Bedrooms and 5 Bathrooms
- Generous living space spanning 1500-2000 sqft on a premium 29.53 x 111.94 ft lot
- Features a finished, separate entrance basement, adding superb versatility for recreation, a home gym, or extra storage
- 3.0 total parking spaces available with a convenient built-in configuration
- Notable attributes: In-Law Suite
- equipped with central air central cooling and highly efficient forced air heating via gas
Description
Welcome to Landmark Estates, ideally located in the heart of Newmarket. This beautifully crafted Monaco Model by a reputable local builder offers approximately 1,950 sq. ft. + basement, totalling over 2,500 sq. ft. of thoughtfully designed living space, featuring 5 bedrooms and 4.5 bathrooms. Extended driveway offering ample parking space. A rare and highly functional layout includes a main floor bedroom complete with a 3-piece ensuite-perfect for multi-generational living, accommodating guests, or creating a private home office. The separate entrance adds exceptional versatility, offering strong potential for additional rental income. The main level showcases 9-ft smooth ceilings, an elegant oak staircase, and a well-appointed layout designed for both everyday comfort and entertaining. Upstairs, the spacious primary retreat features a walk-in closet and a luxurious 5-piece ensuite with double sinks, a separate glass shower, and a modern freestanding tub. Situated along Yonge Street, this home offers unmatched convenience with close proximity to Upper Canada Mall, GO Transit, VIVA transit, Highways 400 & 404, top-rated schools, parks, Magna Recreation Centre, and Glenway Golf Club.An exceptional opportunity for families seeking space, flexibility, and a prime Newmarket location.
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Pricing & Value Insights
Data-driven valuation for 494 Rita's Avenue, Newmarket, ON L3X 2E8
Based on 0 recent similar sales in the pocket.
Properties in this area are selling at a steady pace.
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About Purchasing a Home in Newmarket, ON
For a property listed at $1,180,000 in Newmarket, the legal minimum down payment is $236,000 under current Canadian banking regulations. This calculation applies a 5% requirement on the first $500,000, 10% on the next $499,999, and a flat 20% on any amount exceeding $1,000,000.
Additionally, buyers in Ontario must budget for the Provincial Land Transfer Tax, which is estimated at $20,075 for this transaction. As this listing is in Newmarket (outside the City of Toronto), no additional municipal land transfer tax is levied, resulting in total estimated land transfer taxes of $20,075.
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Disclaimer: AI Insights are generated by an automated system and should be used for informational purposes only. While we strive for accuracy using current market data and deep-learning models, these assessments do not constitute professional real estate, legal, or financial advice. All property values, predictions, and scores are estimates. We strongly recommend verifying all property details and conducting independent due diligence with a licensed professional before making any purchase decisions.
