Homula Realty Brokerage
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5766 Penetanguishene Highway, Springwater, ON L0L 1P0

< 700 sq ft · Vacant Land
$319,000
Property tax
$806 / year

Client Remks: Great opportunity to build on premium .65 acre lot with 98 foot frontage on Penetanguishene Service Road (off of Hwy 93) & N Orr Lake Road in coveted family friendly community. Located near a golf course. Lake access for fishing and swimming. Close proximity to Wasaga Beach and Mt. St. Louis Moonstone Ski Hills. The property is not directly on Hwy 93,but is visible from there and accessible via a quiet service road with only a few homes. This building lot has been graded and has gated entrances from one onto North Orr Lake Road and one onto the Service Road. Lot has received approvals from municipality and NVCA for a 3000 SF Home Plus 1200 SF garage, but those permits are not transferrable to a new owner. Buyer to do their own due diligence and must resubmit all plans for approval for new building permit(s). Great opportunity to build on premium 65 acre lot with 98 foot frontage on Penetanguishene Service Road (off of Hwy 93) & N Orr Lake Road in coveted family friendly community. Located near a golf course. Lake access for fishing and swimming. Close proximity to Wasaga Beach and Mt. St. Louis Moonstone Ski Hills. The property is not directly on Hwy 93 but is visible from there and accessible via a quiet service road with only a few homes. This building lot has been graded and has gated entrances from one onto North Orr Lake Road and one onto the Service Road. Lot has received approvals from municipality and NVCA for a 3000 SF Home Plus 1200 SF garage, but those permits are not transferrable to a new owner. Buyer to do their own due diligence and must resubmit all plans for approval for new building permit(s) The Buyer and Seller acknowledge and agree that all development charges and fees related to the improvement of the lot are not included in the Purchase Price and will be paid by the Buyer when he applies to build.

MLS number
S13075354
Type
Vacant Land
Status
Active
Bedrooms
0
Bathrooms
0
Postal code
L0L 1P0
Photos
6
Laundry
Not in the unit
132days · this listing
Total days on market across every earlier listing of this propertyRegistration and sign-in required

This listing’s own days on market are shown above. How long the property has been for sale across every earlier listing is drawn from records the board releases only to registered users — a free account opens it, along with the sale history below.

Listing history

This address has been listed 2 times.

Sale history is for registered usersSee what this address sold for and when, across all 2 listings. Free account — the board’s rules require one before sold data can be shown.Create a free account

Where this property is

This address could not be placed on the mapHomula matches addresses against open government address data, and this one found no match — so the map, the nearby schools and the school boundaries are all unavailable for this listing. It is a gap in our data, not a property without schools nearby.

H-Value

our estimate of this home is for registered usersWhat comparable homes nearby actually sold for, worked into an estimate for this one — with the range it sits in and how far the method has been off in testing.Create a free accountAlready have one? Sign in.

Work out the numbers

Everything below is calculated in your browser from figures you can change. Nothing is sent anywhere.

$63,800 · minimum here is $15,950
$1,412.46per month
Borrowed before insurance$255,200
Total borrowed$255,200
Interest over 25 years at 4.5%$168,539

If you rented it out

-$1,479.63per month out of pocket
Rent$0.00
Everything it costs to hold$1,479.63
How this is calculated, and what it leaves out

Canadian fixed-rate mortgages compound semi-annually, not monthly, so the monthly rate here is (1 + rate/2)1/6 − 1. Most calculators use rate ÷ 12, which is the American convention and overstates the payment by tens of dollars a month.

Below 20% down, default insurance is mandatory and is added to the loan rather than paid at closing: 2.80% at 85% loan-to-value, 3.10% at 90%, 4.00% at 95%. It is unavailable at or above $1.5M, which is why 20% is a hard floor there.

Not included: vacancy, property management, capital repairs, income tax, and the fact that a lender qualifies you at a stress-test rate rather than the one you are quoted. This is arithmetic on the numbers above, not a mortgage approval or an opinion of what you can afford.

Listed by RE/MAX GEORGIAN BAY REALTY LTD.. Listing data provided by the Toronto Regional Real Estate Board.