Orillia · Detached
Last updated by the listing brokerage Oct 16, 2026
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| Tax year | Annual property tax | Change | Source |
|---|---|---|---|
| 2026 | $3,265 | — | MLS® listing |
Annual taxes as reported on this MLS® listing. Confirm current taxes with the municipality.
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Sign in to view history390 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.
| Level | Room | Size | Features |
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Mortgage uses Canadian semi-annual compounding. Houses-Gate doesn’t offer financing.
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First-time buyers can get up to $4,000 back on Ontario land transfer tax. Orillia has no municipal land transfer tax (Toronto does).
Uses Ontario’s land transfer tax brackets and the down payment set in Monthly Cost. Legal, inspection and title-insurance figures are typical ranges, not quotes.
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Orillia, Orillia
S14129834, FARIS TEAM REAL ESTATE BROKERAGE
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