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1 Red Pine Island, Rainy River Remote Area, ON P9A 3M3

2 beds · 1 bath · 1 kitchen · 5 rooms · Cottage · 0 days on market
$3,000,000
Property tax
$1,560 / year

Rare Opportunity! Properties like this do not become available very often. Here is your chance to own your own private island of nearly 60 acres. With a well appointed log cabin and two additional sleeping cabins, it's a place for families to gather and connect. The main cabin has all the comforts of home, and is connected to US power, has running water and a full bathroom. The living room centers around a large stone fireplace and the rustic decor and attention to detail bring it all together. While the buildings and infrastructure are impressive the real rarity is the shear size of the property. Over 1200 ft of shoreline, trails throughout the island, it truly is an nature lovers dream. Don't miss your chance to create your own memories and traditions with a Rainy Lake retreat.

MLS number
X13567270
Type
Cottage
Status
Active
Bedrooms
2
Bathrooms
1
Postal code
P9A 3M3
Photos
42
60days · 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

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.

$600,000 · minimum here is $600,000
$13,283.35per month
Borrowed before insurance$2,400,000
Total borrowed$2,400,000
Interest over 25 years at 4.5%$1,585,005

If you rented it out

-$13,413.35per month out of pocket
Rent$0.00
Everything it costs to hold$13,413.35
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 NORTHWEST REALTY LTD.. Listing data provided by the Toronto Regional Real Estate Board.