$449,900
78 PATTERSON STREET
Beds
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Baths
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Sqft
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Year
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Type
Vacant Land
Suite
Investment signal
Location nearby
Nearby school, halal, mosque, grocery, park, and transit layers are still being built for Norfolk (Simcoe). The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.
About this home
Vacant residential lot for sale in Simcoe, approximately 0.299 acres. This prime development opportunity comes with municipal and Long Point Region Conservation Authority approvals already in place for a nine-unit, three-storey residential apartment building (2 bedrooms per unit). Architectural and structural plans are available, and completed, transferable approvals include Site Plan, Functional Servicing Report, Traffic Impact Brief, Survey, LPRCA approval, and Stormwater Management Design Brief-saving valuable time and development costs while providing a streamlined path to construction. Excellent location close to shopping, schools, parks, public transit, and other amenities. A rare, permit-ready investment opportunity in a growing community-ideal for builders or investors seeking a mid-sized, spring-ready project with significant groundwork already completed. (id:65958)
- Subtype
- Vacant Land
- Community
- Simcoe
- Lot dimensions
- 76.8 FT
- On market
- Mar 5, 2026
- Status changed
- Apr 21, 2026
- Annual tax
- $0 (2026)
- Zoning
- R4(H), HL
- Photos
- 5
- MLS#
- X12851166
- Area
- NORFOLK_(SIMCOE)
Features and systems
Utilities
Cash on cash
-5.23%
Cap rate
3.82%
GRM
15.6
Break-even rent
$2,813
Financing
Operating expenses (monthly)
Estimates only. Actual cash flow depends on financing terms, condition reports, current market rents, property tax assessment, condo fees, and tenant quality. Defaults: 4.5% rate, 30-year amortization, 5% vacancy, 1%/yr maintenance, 0.5%/yr CapEx reserve, $80/mo insurance. Property tax estimated at 0.55%/yr where not provided. Talk to a mortgage broker before relying on these numbers.
Mortgage estimate
Listing brokerage
Listing brokerage on file
Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Apr 21, 2026.