$599,000
↓ $46,000 from $645,000
Est. payment $2,652/moCalculate yours
390 W Mississaga Street W, Orillia, ON L3V 3C5
Orillia, Orillia, ON L3V 3C5
- 3 + 1 Beds
- 2 Baths
- 700 Sq Ft
Listing courtesy of RE/MAX REALTY ENTERPRISES INC. MLS® S13775546
About this home
390 Mississauga St W, Orillia - Oversized R2 Lot with Severance & Value-Add Upside. An opportunity built for investors, builders, and value-add buyers. This 3-bedroom, 2-bathroom bungalow sits on a rare 90 x 114.75 ft lot - over 10,000 square feet, close to double the size of many neighbouring parcels - in an established, high-demand Orillia neighbourhood serviced by municipal water and sewer. The numbers tell the story. Recent comparable sales in the immediate area range to the high $700s, with 3-bedroom homes trading around $600,000 and typically selling within a month. The property currently carries low holding costs, with annual taxes near $3,300 - attractive for a buy, improve, and reposition strategy.The real upside is the land. With wide frontage and significant depth, the lot holds potential for a two-lot severance into two serviced R2 building lots, subject to City of Orillia approval - a path that could unlock aggregate land value well above a single as-is sale. Alternatively, hold and rent, or execute a cosmetic renovation to capture the spread between as-is pricing and updated comparables. Multiple exit strategies, one address: Value-add flip - refresh finishes, resell to the owner-occupier market or live in Sever & build - pursue consent for a second building lot (pending municipal approval) Buy & hold - solid bones, low carrying costs, strong rental demand near downtown and Lake Couchiching Built in 1964 with a functional single-level layout, full basement, and 2-car carport, this is a genuine land-and-location play in a market with proven, steady demand. Priced as-is to reflect its upside. Bring your strategy - book your private viewing today.
Property details
Overview
- Property Type
- Detached
- Style
- Bungalow
- For
- For Sale
- Status
- Price Change
- Size
- 700 sqft
Interior
- Bedrooms
- 3 + 1
- Bathrooms
- 2
- Kitchens
- 1
- Basement
- Partially Finished
Building & Systems
- Heating
- Forced Air (Gas)
- Cooling
- Central Air
- Exterior
- Aluminum Siding
- Foundation
- Block
- Roof
- Metal, Asphalt Shingle
- Water
- Municipal
- Sewer
- Sewer
Lot & Parking
- Lot Size
- 91.75 x 114.63 Feet
- Parking
- Carport garage · 3 total
- Zoning
- R2
Financial
- Property Taxes
- $3,265 (2026)
Location
- Neighbourhood
- Orillia
- Cross Street
- Woodside Dr. & Mississaga St. W
- Direction Faces
- North
Listing
- MLS® Number
- S13775546
- Days on Market
- 37
- Listed On
- 2026-09-11
- Possession
- 30
- Listed By
- RE/MAX REALTY ENTERPRISES INC.
Features
Interior
- Carpet Free
- Primary Bedroom - Main Floor
- Water Heater Owned
Property
- Hospital
- Marina
- School
Pool
- None
- Included
- Fridge, Stove, Washer, Dryer
Mortgage calculator
Estimated mortgage payment
$2,652 per month
- Principal and interest
- $2,652
- Property tax
- $272
- Condo fees
- $0
- Estimated monthly cost
- $2,924
Your mortgage
- Mortgage amount
- $479,200
- Mortgage insurance
- Not needed
- Interest over 25 years
- $316,473
Cash to close
- Down payment
- $119,800
- Land transfer tax
- $8,455
- First-time buyer refund
- $0
- Sales tax on insurance (8%)
- $0
- Total, before legal fees
- $128,255
With less than 20% down, a 30-year amortization is available to first-time buyers and buyers of newly built homes.
Talk to me about financingEstimates only, not a mortgage offer or financial advice. Uses the Canadian fixed-rate convention (interest compounded twice a year), 2026 mortgage insurance premiums and Ontario land transfer tax. Your lender will confirm your actual rate and payment.
Location
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