390 Mississaga Street
Orillia, ON
- 4 bed
- 2 bath
- approx. 700-1100 sqft
- Detached
- 5 days on market
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.
Virtual Tour
Virtual Tour Available
Listing Details
- Taxes (2026)
- $3,265
- Listed
- September 11, 2026
Price History
Property
- Style
- Bungalow
- Construction
- Aluminum Siding
- Roof
- Metal, Asphalt Shingle
- Foundation
- Block
- Interior
- Carpet Free, Primary Bedroom - Main Floor, Water Heater Owned
- Lot Size
- 91.75 x 114.63 Feet
Parking
- Garage
- Carport
- Covered Spaces
- 0
- Total Parking
- 3
Utilities
- Sewer
- Sewer
- Heat Source
- Gas
Location & Legal
- Cross Street
- Woodside Dr. & Mississaga St. W
- Zoning
- R2
- Parcel Number
- 586350317
- Possession
- 1-29 days
- Occupancy
- Vacant
Included
- Inclusions
- Fridge, Stove, Washer, Dryer
Schools
Elementary
- Harriett Todd Public School0.6 km
Public · Simcoe County DSB · 470 students
Grade 3 reading: 31% met the provincial standard · Grade 6 math: 50% met the provincial standard
- Lions Oval Public School1.7 km
Public · Simcoe County DSB · 440 students
Grade 3 reading: 63% met the provincial standard · Grade 6 math: 47% met the provincial standard
- ÉÉC Samuel-de-Champlain1.7 km
French Catholic · CS catholique MonAvenir · 140 students
Grade 3 reading: 85% met the provincial standard · Grade 6 math: 41% met the provincial standard
Secondary
- Twin Lakes Secondary School0.9 km
Public · Simcoe County DSB · 835 students
Grade 10 literacy: 85% met the provincial standard
- Orillia Secondary School1.4 km
Public · Simcoe County DSB · 1275 students
Grade 10 literacy: 83% met the provincial standard
- Patrick Fogarty Catholic Secondary School2.9 km
Catholic · Simcoe Muskoka CDSB · 720 students
Grade 10 literacy: 83% met the provincial standard
Straight-line distance. Nearby schools are not necessarily the assigned schools — confirm catchment with the school board. Scores are EQAO provincial test results for 2024-2025.
Community
Postal area L3V
- Population
- 48,651
- Private dwellings
- 22,293
- Median age
- 47.6
- Average household size
- 2.3
- Median household income
- $77,500
Source: Statistics Canada, 2021 Census of Population, catalogue 98-401-X2021013. Adapted from Statistics Canada. This does not constitute an endorsement by Statistics Canada of this product.
Local market
Residential Freehold in Orillia · last 12 months
- Median sold price
- $590,000
- Homes sold
- 545
- Median days on market
- 27
- Sale-to-list price
- 96.4%
Based on 545 recorded sales of residential freehold properties in Orillia over the last 12 months.
Listed by
RE/MAX REALTY ENTERPRISES INC.
Walk Score
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Location
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Mortgage Calculator
$129,000
Estimated Monthly Payment
$3,169
Land transfer tax
Ontario land transfer tax only. An estimate — not legal or financial advice. Municipal land transfer tax applies in Toronto and is not included.
Investment Analysis
No recent nearby lease data. Enter a rent to see the numbers.
Mortgage: $3,169/mo (20% down, 5.5%)
Taxes: $272/mo · Insurance: $161/mo
Estimates only. Consult a financial advisor.
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