Homula Realty Brokerage
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2832 60 Highway, Lake of Bays, ON P0A 1H0

Investment
$1,399,000

Looking for a great investment property, look no further! This 1.4 acre with 298.4 frontage on Highway 60 in Downtown Dwight, steps away from the public Dwight beach on beautiful Lake of Bays with sandy beach area, boat launch and public docking. This property is home to a few different businesses with amazing traffic flow year-round as it is on the route to the famous worldly known Algonquin Provincial Park which makes this an attractive investment. There's a large 2 story building that Erika's Bakery/Coffee Shop is located in, Erika's Bakery business is not included in sale, however is negotiable. 2nd floor to the building has extra stock rooms, 4pc bathroom, offices, board room, kitchen and laundry. The property has 3 other businesses that are fully leased in a long seperate building - long strip mall like with their own entrances, bathrooms, septic system, and fibre internet. Great traffic flow for any business and definitely a hub of this little community. Halfway between Huntsville & Algonquin Provincial Park makes a great destination stop. Live, work and play in Muskoka, Lake of Bays. Public school, stores, gas station, public library, community centre only a few kms. away. Post Office, grocery store, pharmacy, gift shops all within walking distance. Golf courses, ski hill, and great restaurants in the area with a new up and coming large housing development just minutes away. A great opportunity, high visibility, awesome location with constant traffic flow.

MLS number
X13084486
Type
Investment
Status
Active
Bedrooms
—
Bathrooms
—
Postal code
P0A 1H0
Photos
32
Property tax
$5,057 / year
130days · 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 650 people.

$92,000Median household income
93.2%Own their home
98.4%Detached houses
61.6Median age
6.9%Born outside Canada
30.2%University degree

The neighbourhood, by the census

Statistics Canada 2021 Census for dissemination area 35440270 — the few blocks around this address, home to 650 people. It describes the area, not this property.

650Population
55.4Average age
2Household size
$125,000Average household income
$92,000Median household income
93%Own their home
7%Rent
0%Condominiums
7%Born outside Canada
30%University degree
$1,040,000Average home value
9%Low income
89%Not in the labour force
15%Never married
Under $5,0001%
$15,000 to $19,9992%
$20,000 to $24,9991%
$25,000 to $29,9992%
$30,000 to $34,9993%
$35,000 to $39,9992%
$40,000 to $44,9992%
$45,000 to $49,9991%
$50,000 to $59,9994%
$60,000 to $69,9994%
$70,000 to $79,9993%
$80,000 to $89,9992%
$90,000 to $99,9996%
$100,000 and over32%
$100,000 to $124,9997%
$125,000 to $149,9997%
$150,000 to $199,9997%
$200,000 and over12%

Percentages are of the 450 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.

$279,800 · minimum here is $114,900
$6,194.47per month
Borrowed before insurance$1,119,200
Total borrowed$1,119,200
Interest over 25 years at 4.5%$739,141

If you rented it out

-$6,615.89per month out of pocket
Rent$0.00
Everything it costs to hold$6,615.89
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 Sutton Group Muskoka Realty Inc.. Listing data provided by the Toronto Regional Real Estate Board.