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.
3 bedrooms, 2 bathrooms, about 700 sq ft, works out to roughly $856 per square foot. Chat with Zara if you'd like a deeper read on whether this detached fits your budget and timing.
Inside 390 Mississaga St W
Every detail from the listing, in one place.
Type
Detached
Style
Bungalow
Living space
700-1100 sq ftas stated on the listing
Parking
3 spaces
Basement
Partially Finished
Features & systems
Parking & garage
Parking spaces
3
Interior
Basement
Partially Finished
Lot & land
Lot size (sqft)
10506
Listing & possession
Property style
Bungalow
Property class
Detached
390 Mississaga St W Price & Sale History
Earlier listings of this property, list-price changes, and the most recent annual property tax on the listing.
Independent mortgage broker · OAC · rates subject to change and underwritingMortgage Squad →
Referral disclosure: Summitly may refer you to Mortgage Squad Advisors, an affiliated mortgage partner. You are free to choose any lender or mortgage professional.
Monthly cost
Enter a rate to see the monthly cost
An estimate, not a quote. Utilities and insurance are extra.
Affordability calculator
Estimated monthly payment
$2,943
/mo
based on the purchase price of $599,000
$119,800 cash
$479,200 financed
$403,612 total interest
Principal54%$479,200
Interest46%$403,612
20% down · 25-yr amortization · 5.50% rate. Principal & interest only — taxes, condo fees, and insurance not included.
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Figures are Summitly estimates for illustration only — not from TRREB or the MLS® feed, and not a mortgage approval, appraisal, or financial advice.
Rental income potential
Est. monthly rent
low–high
Gross yield
rent × 12 ÷ price
Cap rate (est.)
net of tax + fees
Summitly AI estimate for discussion only — not from TRREB or the MLS® feed, and not an appraisal or investment advice. Yield and cap rate are derived from the estimated rent versus the asking price.
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Mortgage financing is arranged through Mortgage Squad Advisors. Summitly is the technology platform that powers this site. Estimated values, AI insights, calculator results, and rental projections shown on this page are generated by Summitly and are not provided by, reviewed by, or sourced from TRREB, the MLS®, or the listing brokerage; they are not appraisals or opinions of value. The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by the Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The Coldwell Banker® name and logo are trademarks of Coldwell Banker Real Estate LLC.
Similar homes for sale nearby in Orillia
Other 2–5 bed homes for sale in Orillia around $599K.
Average days on market43Homes sold in about 43 days on average.
Sale-to-list ratio96.2%On average, homes sold below asking.
Active listings273Homes for sale here right now.
Median vs prior 90 days−3.2%Compared with May 5 – Aug 3, 2026: prices down.
Based on 226 sales from Aug 3 – Nov 1, 2026 (153 in the prior 90 days). Aggregate MLS® figures for closed sales; individual sold prices are shown only to signed-in members.
Questions About 390 Mississaga St W
How much is 390 Mississaga St W listed for?
390 Mississaga St W is listed at $599,000 (MLS® S13775546). Summitly updates the price as soon as the MLS® record changes.
Is $599,000 a good price for 390 Mississaga St W?
Summitly rates it Well Above Market: the asking price is 15% or more above Zara's estimate, an estimate built from recent sales in Orillia. The rating is an automated opinion, not an appraisal; "What's it worth?" on this page shows how it is worked out. See Zara's estimate
Has the price of 390 Mississaga St W changed?
Yes — it was first listed at $645,000 and is now $599,000, a drop of $46,000 (7.1%).
How many bedrooms and bathrooms does 390 Mississaga St W have?
390 Mississaga St W has 3 bedrooms and 2 bathrooms, with about 700–1,100 square feet of living space. It is a detached home in Orillia.
How much would the monthly mortgage be on 390 Mississaga St W?
About $2,943 a month — principal and interest on $599,000 with 20% down ($119,800), a 25-year amortization and an assumed 5.5% interest rate. The mortgage calculator on this page lets you change the down payment, amortization and rate.
How does 390 Mississaga St W compare with other homes in Orillia?
Its asking price of $599,000 is about 6% above the median sold price in Orillia over the last 90 days, $566,389, across 226 closed sales on the TRREB MLS®. A city median mixes every type and size of home, so the comparable sales on this page are the closer guide.
Has 390 Mississaga St W been sold before?
Summitly has no earlier MLS® sale or lease of 390 Mississaga St W on record from the last two years. Older records aren't shown under TRREB rules.
Where is 390 Mississaga St W?
390 Mississaga St W is in Orillia, ON. Schools, transit, parks and shops nearby are under Location & lifestyle on this page.
How long has 390 Mississaga St W been on the market?
51 days — 390 Mississaga St W was listed on September 11, 2026.
What is the price per square foot of 390 Mississaga St W?
About $545 to $856 per square foot: the asking price of $599,000 over the 700–1,100 sq ft the listing gives as its size range.
Does 390 Mississaga St W have parking or a garage?
Yes — the listing gives 3 parking spaces.
Does 390 Mississaga St W have a basement, and is it finished?
The listing describes the basement as: Partially Finished.
