Homula Realty Brokerage
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100 Ontario Street, Timiskaming, ON P0J 1G0

Investment
$2,495,000

Waterfront Estate along the Montreal River in James Town, Northern Ontario. Welcome to Elk Lake Lodge. Designed to accommodate both intimate escapes and large-scale gatherings, the property seamlessly blends modern infrastructure with an unforgettable natural setting. Whether envisioned as a luxury retreat centre, wedding venue, corporate getaway, an exclusive waterfront resort, boutique lodge, vacation destination or an extraordinary private family compound, the possibilities are endless. Set on approximately 12 acres of pristine waterfront, this extraordinary turnkey estate presents a rare opportunity to acquire this property with exceptional lifestyle appeal and significant income potential. Surrounded by breathtaking natural beauty, this estate is positioned as a premier destination. The property features six spacious guest cabins - each over 1,500 sq.ft (five with 6 bedrooms and one with 5 bedrooms), shared laundry facilities, and an impressive 7,500 sq.ft main lodge with a dining room seating up to 75 guests, conference space for 130 attendees, and fully equipped commercial kitchen. Over $600,000 has been invested in recent capital improvements, including new metal roofs, energy-efficient upgrades to the heating, lighting, plumbing and HVAC systems, brand-new floating docks, hot water tanks, and extensive cosmetic enhancements throughout. Whether envisioned as a luxury retreat destination, an established event venue, a corporate training centre, or a high-performing vacation rental business, this exceptional waterfront estate offers immediate operational capability with substantial opportunities for future growth.

MLS number
T13587026
Type
Investment
Status
Active
Bedrooms
—
Bathrooms
—
Postal code
P0J 1G0
Photos
49
Property tax
$21,883 / year
52days · this listing
52days · this property

This property has not been relisted in the last two years, so both counts are the same. Where they differ, the second adds up earlier listings at this address that ended without a sale.

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 home 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.

$499,000 · minimum here is $499,000
$11,047.32per month
Borrowed before insurance$1,996,000
Total borrowed$1,996,000
Interest over 25 years at 4.5%$1,318,196

If you rented it out

Monthly rent starts from a rule of thumb — two per cent of the asking price a year — because no comparable lease was found nearby. Change it to anything you like.

-$8,712.90per month out of pocket
Rent$4,158.00
Everything it costs to hold$12,870.90
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 ENGEL & VOLKERS TORONTO CITY. Listing data provided by the Toronto Regional Real Estate Board.