498 NORFOLK Street South, Simcoe, Ontario, N3Y2X5




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$999,000
Simcoe
This 4-bedroom, 3-bathroom home in Simcoe is for sale offering roughly 2,184 sq ft of space.
At nearly 3 acres and located within Simcoe's Urban Development Boundary, 498 Norfolk Street South presents a rare opportunity for homeowners, 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 accommodate townhomes, apartments, or other residential uses. The owner has completed a preliminary servicing memo in consultation with Vallee Consulting and Norfolk County. Municipal services are available at the road, making the property well positioned for future infill development. Concept design available upon request. Whether you're 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 74 days across the listings currently for sale in this city
This 4-bed single family in 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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