498 Norfolk Street South, Norfolk (Simcoe), Ontario, N3Y2X5




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$999,000
Norfolk
This 4-bedroom, 2-bathroom home in Norfolk is for sale.
At nearly 3 acres and located within Simcoe's Urban Development Boundary, 498 Norfolk Street South presents a rare opportunity for home owners, investors, and developers alike. With an existing duplex already in place, the property offers immediate rental income while supporting exceptional long-term upside. Potential to rezoning to R4 or R5 to accomodate townhomes, apartments, or other residential uses. The owner has completed a preliminary servicing memo in consulation with Vallee Consulting and Norfolk County Municipal services are available at the road, making the property well positioned for future infill development. Whether you are seeking a sizeable in-town estate property, an investment opportunity to land bank while generating income, or a redevelopment project with significant future potential, 498 Norfolk Street South is a property that warrants serious consideration. (id:66096)
Room details as supplied by the listing brokerage. Dimensions are shown in the unit the listing states, and are approximate.
Features and services as supplied by the listing brokerage.
Long Listed: 100 days on market, against an average age of 69 days across the listings currently for sale in this city
Homes here sell slower than most markets
Sold homes in this market spent an average of 62 days on the market over the past year, against a median of 48 days across the markets we publish.
This 4-bed single family in Norfolk (Simcoe) is available now. Want me to connect you with the agent or keep you posted on any price updates?
Approximate location — exact address confirmed upon showing
This home lists at $999,000, about 12.9× the local median household income of $77,500.
Carrying it typically needs a household income of about $195,140 (20% down, 25-yr amortization, stress-tested) — roughly 152% above the area median.
Source: Statistics Canada, 2021 Census (FSA N3Y)
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Loading rates, 30-yr amortization
Cash Needed to Close
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