538 Mutual Street
Overbrook - Castleheights and Area, ON
- 4 bed
- 3 bath
- approx. 2500-3000 sqft
- Detached
- 96 days on market
Exceptional development opportunity in the heart of Castle Heights. Situated on a 60' x 111' lot and currently improved with a tenanted triplex providing holding income, this property offers compelling future redevelopment potential. A substantial rear concrete block building with high ceilings-larger than the existing residential structure-creates a rare opportunity for adaptive reuse or future development, subject to buyer due diligence and required approvals. Zoned N4B (buyer to verify), the property may support a variety of residential development concepts under Ottawa's evolving zoning framework. Located in a neighbourhood experiencing significant reinvestment and infill activity, this is an outstanding opportunity for builders, developers, and investors seeking both current income and long-term upside. AI renderings included for illustration purposes only. Buyers are advised to verify zoning, permitted uses, development potential, and all approvals required for their intended use.
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Listing Details
- Taxes (2026)
- $5,546
- Originally Listed
- $824,900
- Listed
- June 4, 2026
Price History
Listing history
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Property
- Style
- 3-Storey
- Construction
- Stone, Vinyl Siding
- Roof
- Shingles
- Foundation
- Concrete
- Interior
- Other
- Lot Size
- 60 x 112 Feet
Parking
- Garage
- Detached
- Covered Spaces
- 0
- Total Parking
- 10
Utilities
- Sewer
- Sewer
- Heat Source
- Gas
Location & Legal
- Cross Street
- Mutual St & May St
- Zoning
- Residential
- Parcel Number
- 042440132
- Possession
- Flexible
- Occupancy
- Owner
Included
- Exclusions
- tenants belongings
Schools
Secondary
- Ottawa Technical Secondary School0.5 km
Public · Ottawa-Carleton DSB · 330 students
Grade 10 literacy: 48% met the provincial standard
- École secondaire catholique de l’innovation0.9 km
French Catholic · CSDC du Centre-Est de l'Ontario · 95 students
Grade 10 literacy: 71% met the provincial standard
- École secondaire catholique Samuel-Genest1.5 km
French Catholic · CSDC du Centre-Est de l'Ontario · 855 students
Grade 10 literacy: 96% met the provincial standard
Elementary
- Robert E. Wilson Public School0.5 km
Public · Ottawa-Carleton DSB · 250 students
Grade 3 reading: 42% met the provincial standard · Grade 6 math: 41% met the provincial standard
- St Michael Elementary School0.6 km
Catholic · Ottawa CSB · 175 students
Grade 3 reading: 62% met the provincial standard · Grade 6 math: 41% met the provincial standard
- Queen Elizabeth Public School0.6 km
Public · Ottawa-Carleton DSB · 405 students
Grade 3 reading: 70% met the provincial standard · Grade 6 math: 17% 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 K1K
- Population
- 32,046
- Private dwellings
- 15,235
- Median age
- 42.4
- Average household size
- 2.2
- Median household income
- $73,500
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 Overbrook - Castleheights and Area · last 12 months
- Median sold price
- $586,000
- Homes sold
- 197
- Median days on market
- 23
- Sale-to-list price
- 97.8%
Based on 197 recorded sales of residential freehold properties in Overbrook - Castleheights and Area over the last 12 months.
Listed by
RE/MAX DELTA REALTY TEAM
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Location
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Mortgage Calculator
$149,980
Estimated Monthly Payment
$3,684
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: $3,684/mo (20% down, 5.5%)
Taxes: $462/mo · Insurance: $187/mo
Estimates only. Consult a financial advisor.
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