Homula Realty Brokerage
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764 EAST BEAR LAKE Road, McMurrich/Monteith, ON P0A 1Y0

3 beds · 1 bath · 1 kitchen · 6 rooms · 4 parking spaces · 700-1100 sq ft · Detached
$599,000
Property tax
$2,100 / year

Update!Shore road allowance has been billed by the Ministry and paid for by the Seller! Great rental potential! A captivating 3 bedroom bungalow cottage on Bear Lake, Sprucedale in the Parry Sound District. The seller has applied to purchase the shore Road allowance. Survey for shore road allowance completed and paid for by the seller ( an approx.$10,000.00 value). Located directly off a year-round municipal maintained road with little traffic. 307 feet of amazing waterfront on 1.3 acres of privacy abutting Crown land with plenty of land to explore directly from this property for a long leisurely walk or hike. Excellent fishing, boating, and swimming right from your dock. Waters edge is just steps away from the cottage. For the avid fisherman, northern pike, walleye, bass, sunfish and perch. A west exposure with a picture sunset filled sky. Enjoy the consistent breeze off the lake and sun all day. New roof shingles in 2024. Open concept, new wood stove in 2021, pine ceilings. Plenty of attic space for storage and potential for vaulted ceiling. Spend your summer days listening to soothing sounds of mother nature while gazing out to the glistening waters from your deck. Gentle entry for swimming and launching a boat. Sand entry and smooth Canadian Shield shoreline. Plenty of wildlife with deer, moose, beaver, and the sounds of loons calling. Enjoy all your boating activities or a nice quiet paddle board. This lake will fulfill your families waterfront needs. All furniture included making this turnkey cottage ready to enjoy before the summer begins. Visit Sprucedale for amenities and full grocery stores just a half hour away. Boat launch nearby. Look no further for your cottage country dream.

MLS number
X13495546
Type
Detached
Status
Active
Bedrooms
3
Bathrooms
1
Postal code
P0A 1Y0
Photos
32
Laundry
Not in the unit
79days · 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 8 times.

Sale history is for registered usersSee what this address sold for and when, across all 8 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.

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

Work out the numbers

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

$119,800 · minimum here is $34,900
$2,652.24per month
Borrowed before insurance$479,200
Total borrowed$479,200
Interest over 25 years at 4.5%$316,473

If you rented it out

-$2,827.24per month out of pocket
Rent$0.00
Everything it costs to hold$2,827.24
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 Parry Sound Muskoka Realty Ltd. Listing data provided by the Toronto Regional Real Estate Board.