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275 Faradale Drive, Faraday, ON K0L 1C0

3 beds · 1 bath · 1 kitchen · 6 rooms · 2 parking spaces · 700-1100 sq ft · Detached
$445,000
Property tax
$2,884 / year

When you think about going to the cottage, that is exactly where this property on L'Amable Lake will take you to "the cottage". Built in 1967, this three season cottage features a kitchen, living area, 3 bedrooms, and a 3pc bathroom. New decking has been replaced to the front and back entrances. A gentle slope to the lake with 100 feet of waterfrontage. The cottage is in need of some up grades. If you are just looking for a little getaway for some summer relaxation and water activities, this is the place. Close to town and all amenities. Access is on a year round private road.

MLS number
X13543696
Type
Detached
Status
Active
Bedrooms
3
Bathrooms
1
Postal code
K0L 1C0
Photos
21
65days · 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.

Matched to a published address point for this address.

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.

This neighbourhood

Statistics Canada 2021 Census, for the surrounding few blocks — about 400 people.

$68,500Median household income
88.4%Own their home
97.4%Detached houses
58Median age
10.6%Born outside Canada
19%University degree

The neighbourhood, by the census

Statistics Canada 2021 Census for dissemination area 35120239 — the few blocks around this address, home to 400 people. It describes the area, not this property.

400Population
51.9Average age
2.1Household size
$86,000Average household income
$68,500Median household income
88%Own their home
12%Rent
0%Condominiums
11%Born outside Canada
19%University degree
$580,000Average home value
17%Low income
22%Never married
Under $5,0004%
$10,000 to $14,9992%
$20,000 to $24,9992%
$25,000 to $29,9994%
$30,000 to $34,9994%
$35,000 to $39,9996%
$40,000 to $44,9992%
$45,000 to $49,9996%
$50,000 to $59,9994%
$60,000 to $69,9996%
$70,000 to $79,9994%
$80,000 to $89,9996%
$90,000 to $99,9996%
$100,000 and over22%
$100,000 to $124,9998%
$125,000 to $149,9992%
$150,000 to $199,9996%
$200,000 and over6%

Percentages are of the 250 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.

$89,000 · minimum here is $22,250
$1,970.36per month
Borrowed before insurance$356,000
Total borrowed$356,000
Interest over 25 years at 4.5%$235,109

If you rented it out

-$2,210.70per month out of pocket
Rent$0.00
Everything it costs to hold$2,210.70
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 Royal LePage Frank Real Estate. Listing data provided by the Toronto Regional Real Estate Board.