$1,299,900 - 221 Prospect Street, Newmarket
Detached for Sale in Newmarket
Neighbourhood: Central Newmarket
- MLS Number
- N13605988
- Property Type
- Detached
- Status
- active
- Days on Site
- 30
- Bedrooms
- 3
- Bathrooms
- 2
- Square Feet
- 2,000 - 2,499 sqft
- Neighbourhood
- Newmarket
- Listing Brokerage
- RE/MAX HALLMARK CHAY REALTY
Location, Location, Location! Perfectly positioned on the slower-paced section of historic Prospect St, this home offers easy access in and out of the 9 car driveway while still enjoying one of Newmarket's most walkable locations. Just steps to picturesque Fairy Lake, vibrant Main Street, the Nokiidaa Trail, Riverwalk Commons, cafes, restaurants, boutique shopping, concerts, skating, farmers' markets, and year-round community events, you'll love leaving the car at home and embracing everything downtown Newmarket has to offer. Own a piece of Newmarket's history in this lovingly maintained home, where timeless character meets everyday comfort. Sunshine pours through oversized windows, highlighting the original hardwood floors and soaring 9-foot ceilings on the main level. The thoughtfully designed floor plan features a custom kitchen with a walkout to the backyard, making entertaining effortless, a formal dining room that opens to the living room with oversized pocket doors for more intimate gatherings, and a spacious, light-filled family room. Every window captures beautiful views of mature trees, lush gardens, and visiting songbirds, creating a sense of tranquility throughout. The generous room sizes and spacious bedrooms make the home feel both grand and welcoming. Outside, you'll find four charming porches-perfect for morning coffee, relaxing with a book, or enjoying the peaceful surroundings. The oversized lot is a private oasis featuring vibrant perennial gardens, a pear tree, mature trees for shade and privacy, and a cozy fire pit for evenings under the stars. A durable metal roof provides lasting peace of mind. This is more than just a beautiful home-it's an exceptional lifestyle in one of Newmarket's most sought-after locations, where small-town charm, nature, and community come together right outside your door.
Estimate your monthly payments for this property
Estimated Payment
$5,749.90/mo
5-yr fixed avg.
Rates shown are estimates based on typical Ontario 5-year fixed rates. Canadian mortgages use semi-annual compounding as required by law. CMHC insurance applies to purchases under $1.5M with less than 20% down. Estimated property tax uses an approximate 0.85% rate. Contact us for current rate options and pre-approval.
Discover Central Newmarket
Central Newmarket is a vibrant community in the Greater Toronto Area, offering excellent amenities, schools, and transportation options. This area is popular with families and professionals seeking a balanced lifestyle with access to urban conveniences and natural spaces.
Why Live in Central Newmarket
- •Convenient location in Newmarket
- •Access to local shops and dining
- •Good public transit connections
- •Community parks and green spaces
- •Well-maintained neighbourhoods
Nearby Schools
Transit & Commuting
- •MiWay bus routes throughout the area
- •GO Transit stations within driving distance
- •Easy highway access to 401/403/QEW
- •Walking distance to local amenities
Parks & Amenities
- •Local parks and recreational facilities
- •Community centres
- •Shopping plazas nearby
- •Restaurants and cafes
Lifestyle & Community
Central Newmarket offers a wonderful quality of life with a mix of residential charm and urban convenience. Residents enjoy easy access to schools, parks, and shopping, making it an ideal location for families and professionals alike.
221 Prospect Street, Newmarket
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Monthly Cash Flow Breakdown
Note: These are estimates only. Actual figures may vary based on market conditions, property condition, and other factors. Consult with a financial advisor for personalized advice.
Joe's Thoughts
Honest perspective from 30+ years of GTA real estate experience
Competitive Pricing
At $650/sqft, this is priced below the area average. This could represent genuine value, but let's investigate why. In my experience, underpriced homes often have deferred maintenance, unfavourable layouts, or motivated sellers. I'll help you determine which it is.
Market Position
At 30 days on site, this property has had reasonable exposure. It hasn't sold immediately (which often indicates overpricing), but isn't languishing either. There's likely room for a 3-5% negotiation from asking price.
Detached Home Advantages
Detached homes in Newmarket are increasingly scarce and valuable. You'll have no shared walls, full control over renovations, and typically stronger appreciation. Consider the lot size and potential for future additions or basement apartment income. Detached homes also offer the most flexibility for growing families.
Starter Home Potential
3 bedrooms works well for couples planning families or small families with one child. Consider whether you might outgrow the space in 5-7 years. If so, factor in potential moving costs when making your decision. Alternatively, some buyers convert a bedroom to an office and make it work long-term.
About Central Newmarket
I know Central Newmarket well from working with many buyers and sellers here. Each pocket has its own character - let me share what I've learned about this specific street and block. During our showing, I'll point out local amenities, school catchments, and what similar homes have sold for recently.
Investment Perspective
Looking at this as an investment: Newmarket properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $5,416 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.