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Property Type: Detached HouseOwnership: Freehold
475 FORFAR STREET E
Centre Wellington (Fergus), ON N1M3H6
MLS® X13851480
$788,800
4 bed2 bath6 parking
Property Details
Property & Lot
- Sub-type
- House
- Stories
- 2
- Lot size
- 50 x 130 FT
- Frontage
- 50 feet
res
Ownership & Fees
- Property type
- Detached House
- Ownership
- Freehold
- Annual property tax
- $3,617
Interior
- Basement
- Partially finished, Separate entrance, N/A, N/A
- Heating
- Baseboard heaters, Forced air, Natural gas
- Cooling / A/C
Room Dimensions
| Room | Level | Dimensions |
|---|---|---|
| Living room | Main level | — |
| Bedroom | Basement | — |
| Kitchen | Main level | — |
| Dining room | Main level | — |
| Bathroom | Main level | — |
| Bedroom | Main level | — |
| Primary Bedroom | Main level | — |
| Bedroom | Main level | — |
| Living room | Basement | — |
| Kitchen | Basement | — |
| Bathroom | Basement | — |
Description
2 self-contained units, separate hydro meters, the potential for strong rental income. Previously generating $2,800/month for the upper unit & $2,100/month for the lower unit. Whether you're looking to offset your mortgage, accommodate multi-generational living or just make $4,900 per month! Situated on a 50' x 130' lot with no sidewalk, this property enjoys a premium location facing a tranquil tree-lined and backing directly onto the Elora Trail & Forfar Park. The bright and spacious upper unit features 3 bedrooms and 1 full bathroom, complemented by large windows and skylights that fill the home with natural light. The expansive kitchen offers abundant counter space, newer appliances, in-suite laundry, and convenient access to the fully insulated garage. Step outside to the walkout deck overlooking the private backyard-perfect for relaxing or entertaining. The professionally finished lower level has been converted into a separate self-contained unit with its own walkout entrance to the backyard. Designed with comfort and style in mind, it features oversized windows, a full-size kitchen with stone countertops and a modern backsplash, a spa-inspired bathroom, & a spacious bedroom large enough to accommodate a king-size bed. Baseboard heating provides independent temperature control for added comfort during the winter months. Additional features include no carpet throughout, newer appliances, ample driveway parking, & the option to divide the backyard into separate outdoor spaces for each unit. For buyers seeking a single-family layout, the home can easily be converted back by removing one interior wall, allowing access between the upper and lower levels. An outstanding investment opportunity with proven rental history, previously generating $2,800/month for the upper unit & $2,100/month for the lower unit. (id:63159)
Listing Information
- MLS®
- X13851480
- Data last synced
- October 4, 2026
CENTURY 21 RED STAR REALTY INC.
Data source: CREA DDF.
CREA DDF® ListingListing Brokerage: CENTURY 21 RED STAR REALTY INC.
MLS® Number: X13851480
Listing data is sourced from CREA DDF®, the Canadian Real Estate Association (CREA) Data Distribution Facility. Listing information is deemed reliable but is not guaranteed accurate by CREA or the listing brokerage. Data provided courtesy of Toronto Regional Real Estate Board.
Location Insights
Weather
Nearest station: Cambridge
3°C
Fog
Humidity 98%
Wind NE calm km/h
Today
20°
Tonight
5°
Friday
12°
Friday night
-2°
Saturday
14°
Saturday night
3°
Source: Environment and Climate Change Canada.
Nearby Places
Parks (5+)
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Mortgage & Ownership Cost Calculator
Minimum required: 6.8% ($53,880) — 5% under $500K, 10% up to $1.5M, 20% at/above $1.5M.
Financial Ledger
Net mortgage (loan + CMHC insurance)$631,040.00
Periodic payment — Principal & Interest (monthly)$4,071.26
Additional monthly expenses (condo fees, tax, utilities, etc.)$301.42
Total monthly cost$4,372.67
Interest paid over 5-yr term$180,857.88
Balance at end of term$567,622.52
Rates based on Bank of Canada benchmark data.
Financial Summary
Minimum down payment$53,880
Stress test qualifying rate8.19%
Payment you must qualify for$5,698.38
Cash Needed at Closing
Minimum down payment$53,880
Estimated Land Transfer Tax (LTT)$12,251
Legal / closing costs (typical estimate)$1,500
Total cash needed$67,631
Minimum down payment: 5% on the first $500,000, 10% on the portion up to $1.5M, 20% at/above $1.5M. Stress test: OSFI's minimum qualifying rate, the greater of contract rate + 2% or 5.25% — this is what lenders require you to qualify at, not what you'll actually pay. Closing costs are a typical-range estimate, not a quote — actual legal fees vary. Land Transfer Tax is the Ontario provincial schedule, before any first-time buyer refund; only the City of Toronto charges a municipal land transfer tax on top, so none applies in the areas this site covers (Ontario Ministry of Finance, ontario.ca/document/land-transfer-tax, as of October 28, 2026). Verify all figures with a mortgage broker and lawyer before relying on them.
