498 Norfolk Street S
Simcoe, N3Y 2X5
$999,000
- Bedrooms
- 4
- Bathrooms
- 3
- Interior
- 2,184 ft²
- Lot
- 1.43 acres
- Type
- Detached
About this home
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.
Property details
- Property type
- Detached
- Ownership
- Freehold
- Age
- 100+ Years
- Property taxes
- $4,391
- Heating
- Forced Air, Natural Gas
- Basement
- Full, Partially Finished
- Parking
- 4 spaces, detached garage
- Water
- Municipal-Metered
- Sewer
- Sewer (Municipal)
- Lot
- 1.43 acres
- Zoning
- R2
- Time on market
- 101 days on market
- MLS® number
- 40851424
Features
Inside
- Accessory Apartment
Outside
- Brick
- Asphalt Shing roof
The lot
- Urban
- Irregular Lot
- Near Golf Course
- Greenbelt
- Hospital
- Library
- Rec./Community Centre
- Schools
- Shopping Nearby
Included with the home: Negotiable
Rooms
Measurements are deemed reliable but not guaranteed.
| Room | Level | Size | Details |
|---|---|---|---|
| Living Room | Main | 14' × 13' | |
| Dining Room | Main | 14' × 13' | |
| Kitchen | Main | 14' × 11' | |
| Bedroom Primary | Main | 16' 5" × 11' 4" | |
| Bedroom | Main | 10' 2" × 9' 3" | |
| Bedroom | Main | 10' 7" × 9' 3" | |
| Kitchen | Second | 11' 6" × 8' 7" | |
| Bedroom | Second | 12' × 9' 6" | |
| Living Room | Second | 12' 5" × 12' | |
| Den | Second | 11' × 6' 8" | |
| Bathroom | Main | 2-Piece, Ensuite | |
| Bathroom | Main | 4-Piece | |
| Bathroom | Second | 4-Piece |
Location
Thinking about the area? Read our guide to living in Simcoe.
Estimate your payment
20% down. The minimum on this price is $74,900.
Your monthly payment
$4,423
- Mortgage amount
- $799,200
- Interest over the amortization
- $527,807
An estimate at a fixed rate compounded twice a year. Insurance applies under 20% down. Your lender sets the real numbers, and the team can introduce you to a mortgage professional.
Ontario land transfer tax
How the tax adds up
| $0 to $55,000 | 0.5% | $275.00 |
| $55,000 to $250,000 | 1.0% | $1,950.00 |
| $250,000 to $400,000 | 1.5% | $2,250.00 |
| $400,000 to $999,000 | 2.0% | $11,980.00 |
Ontario land transfer tax
$16,455
- Tax before any refund
- $16,455.00
- You pay on closing
- $16,455.00
For a home with one or two single-family residences anywhere in Ontario outside Toronto. Your real estate lawyer confirms the amount and pays it on closing.
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