Homula Realty Brokerage
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405 Tollgate Road E, Cornwall, ON K6H 5R6

2 baths · 20 parking spaces · 5000 + sq ft · Other
$595,000
Property tax
$5,306 / year

The subject property is a 3.84 ha site at 405 Tollgate Rd. just West of McConnell Ave at the Hwy 401 interchange. Zoning is Res 20. The proposal as prepared calls for the construction of 4 x 20 unit residential apartments buildings each with underground parking and the redevelopment of an existing building to be converted to house an additional 12 residential row house units. The proposal calls for the site to be fully serviced. Included with the offering are the concept plans, together with a preliminary site plan development proposal prepared by EVB Engineering and Grant Marion Construction that includes, topographic mapping, preliminary site servicing requirements, run off and storm water storage requirements, An earlier Class D site servicing cost and a list of municipal planning requirements is available. Currently there is a large storage building on site that is shown as being retrofitted for residential purposes. This light warehouse/office building is currently used for storage and office use. It is complete with washrooms and is heated and partially air-conditioned. There is a smaller frame building that is attached to the warehouse on site.

MLS number
X12206633
Type
Other
Status
Active
Bedrooms
0
Bathrooms
2
Postal code
K6H 5R6
Photos
5
Laundry
Not in the unit
461days · 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

No previous listings found for this address.

Where this property is

Where this address sits, matched against open government data.

Approximate — placed from the postal code, which can cover a block or more.

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.

What an H-Value is and how it is calculated — the method and our measured error, no account needed.

This neighbourhood

Statistics Canada 2021 Census, for the surrounding few blocks — about 517 people.

$86,000Median household income
89.7%Own their home
97.8%Detached houses
56.8Median age
4.5%Born outside Canada
20.3%University degree

The neighbourhood, by the census

Statistics Canada 2021 Census for dissemination area 35070292 — the few blocks around this address, home to 517 people. It describes the area, not this property.

517Population
49.4Average age
2.3Household size
$87,000Average household income
$86,000Median household income
90%Own their home
10%Rent
0%Condominiums
5%Born outside Canada
20%University degree
$472,000Average home value
10%Low income
80%Not in the labour force
18%Never married
Under $5,0002%
$15,000 to $19,9993%
$20,000 to $24,9993%
$30,000 to $34,9993%
$35,000 to $39,9995%
$45,000 to $49,9995%
$50,000 to $59,9993%
$60,000 to $69,9995%
$70,000 to $79,9995%
$80,000 to $89,9993%
$90,000 to $99,9993%
$100,000 and over31%
$100,000 to $124,99914%
$125,000 to $149,9995%
$150,000 to $199,9995%
$200,000 and over6%

Percentages are of the 320 responses in this category. Statistics Canada rounds counts and withholds small ones to keep individuals unidentifiable, so categories with too few people to publish are absent rather than shown as zero.

Source: Statistics Canada, 2021 Census of Population. Contains information licensed under the Open Government Licence – Canada.

Work out the numbers

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

$119,000 · minimum here is $34,500
$2,634.53per month
Borrowed before insurance$476,000
Total borrowed$476,000
Interest over 25 years at 4.5%$314,359

If you rented it out

-$3,076.70per month out of pocket
Rent$0.00
Everything it costs to hold$3,076.70
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 AFFILIATES MARQUIS LTD.. Listing data provided by the Toronto Regional Real Estate Board.