Homula Realty Brokerage
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25 I Street, Cockburn Island, ON P0P 1R0

Vacant Land
$39,900
Property tax
$301 / year

Cockburn Island - located off the western tip of Manitoulin Island. Unique opportunity to purchase a 1 acre lot that is truly an escape from the ordinary. Ranked one of the Top 10 islands for its conservation importance, lack of disturbance and biodiversity. With over 90% of the island protected and maintained by the Nature Conservancy of Canada there are only a handful of opportunities to purchase and create a retreat where you can enjoy natural beaches, untouched forests, vast conservation land, hiking and wildlife. This property is walking distance to the main island dock. Although an ideal off-grid situation, there is hydro available at the road. 3 season access by boat from public docks or private plane. Drummond Island, USA is directly west of Cockburn Island. Go direct no appointment required. DIRECTIONS: from Meldrum Bay on Manitoulin Island, by boat to Tolsmaville, Cockburn Island. From the main dock, south on Sideroad 10 to I street. East to the lot on the north west corner (where the road bends). For further information about the island go to cockburnisland.ca

MLS number
X12712758
Type
Vacant Land
Status
Active
Bedrooms
0
Bathrooms
0
Postal code
P0P 1R0
Photos
14
235days · 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.

$7,980 · minimum here is $1,995
$176.67per month
Borrowed before insurance$31,920
Total borrowed$31,920
Interest over 25 years at 4.5%$21,081

If you rented it out

-$201.75per month out of pocket
Rent$0.00
Everything it costs to hold$201.75
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 Royal LePage RCR Realty. Listing data provided by the Toronto Regional Real Estate Board.