Homula Realty Brokerage
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PCL 29625 Island M, French River, ON P0M 2K0

2+1 beds · 1 bath · 1 kitchen · 6 rooms · 700-1100 sq ft · Detached
$395,000
Property tax
$2,228 / year

If peace and tranquility is what you are searching for then look no further! Our turnkey boat access cottage is offering just that! Cottages in this location rarely come available on the market! Our sellers have enjoyed this site for 47 years! It's a dream destination! Could it be for you??Just a 5-minute boat ride in the included pontoon boat from the marina brings you to our exclusive, three season cottage in a lovely setting! We are located on Island M in the Sucker creek/ Warren Bay location of Lake Nipissing! A cottage here isn't just a property, it's a lifestyle filled with boating, swimming, and endless memory making, centered around nature and relaxation! This location is known for its world-class fishing, a dream destination for anglers and outdoor enthusiasts alike. Our land is a unique point of land with a mixed shoreline of rock outcroppings and a sandy bottom on the other side. Our site boasts mature trees, trails though out the island, and crown land is next door to us! The cottage is charming with a warm wood interior and comes fully furnished for your convenience! Featuring two bedrooms on the main level, a sleeping loft on the second, a bathroom with a shower and compost toilet, fully equipped kitchen, dining room and living space. Yes, we have hydro! Sweet! For the cooler nights there is a cozy woodstove! Exteriorly there are multiple deck spaces and a solid dock for maximum enjoyment! More? For extra accommodation we provide two bunkies! One features a queen bed and the other has two single beds. Owning a cottage is more than just having a second property-it offers a peaceful escape from the pace of everyday life. It's a space where mornings begin with coffee on the deck, afternoons are spent enjoying the outdoors, and evenings end with sunsets and time around the fire with family and friends. Its cottaging at its finest! Its ready for you to pick up the keys! More pictures to come once the snow melts! *See my website for further information.

MLS number
X12851328
Type
Detached
Status
Active
Bedrooms
3
Bathrooms
1
Postal code
P0M 2K0
Photos
44
190days · this listing
190days · 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

No previous listings found for this address.

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.

$79,000 · minimum here is $19,750
$1,748.97per month
Borrowed before insurance$316,000
Total borrowed$316,000
Interest over 25 years at 4.5%$208,692

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.

-$1,276.64per month out of pocket
Rent$658.00
Everything it costs to hold$1,934.64
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 Narozanski North Realty Inc. Listing data provided by the Toronto Regional Real Estate Board.