$1,050,000 - 507 Rourke Place, Newmarket
Townhouse for Sale in Newmarket
Neighbourhood: Gorham-College Manor
- MLS Number
- N13438966
- Property Type
- Townhouse
- Status
- active
- Days on Site
- 21
- Bedrooms
- 3
- Bathrooms
- 4
- Square Feet
- 1,500 - 1,999 sqft
- Neighbourhood
- Newmarket
- Listing Brokerage
- RE/MAX REAL ESTATE CENTRE INC.
Beautiful freehold townhome in a sought-after Newmarket neighbourhood featuring a versatile and functional layout. Offers 3 bedrooms, with the 3rd bedroom easily used as a second-floor family room, office, or additional living space. Spacious primary retreat with a super-sized ensuite bath. The 3rd bedroom/flex room features a cozy fireplace, adding warmth and character. Convenient second-floor laundry.The fully finished basement provides additional living space with a large recreation room and a full 4-piece bathroom, perfect for entertaining, guests, or extended family. Neutral décor throughout makes this home move-in ready.Enjoy direct access to the attached 1.5-car garage plus parking for up to 4 vehicles on the driveway. Ideally located close to schools, parks, shopping, transit, and all amenities.
Estimate your monthly payments for this property
Estimated Payment
$4,644.50/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 Gorham-College Manor
Gorham-College Manor 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 Gorham-College Manor
- •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
Gorham-College Manor 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.
507 Rourke Place, 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 $700/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 21 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.
Townhouse Benefits
Townhouses offer an excellent balance of space and maintenance. You get more room than a condo with lower upkeep than a detached home. Key things to verify: whether it's freehold or condo-titled (affects fees and rules), and the condition of shared walls for noise considerations. Townhouses in Newmarket have shown strong appreciation as families seek more space.
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.
Bathroom Count Matters
With 4 bathrooms, morning routines are much smoother. Multiple bathrooms significantly improve daily livability and are a major selling point for resale. Buyers consistently pay more for adequate bathroom counts - this is a strong feature.
About Gorham-College Manor
I know Gorham-College Manor 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.