Homula Realty Brokerage
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Lot 5 Rodney Lane, North Dundas, ON K0C 2K0

Vacant Land
$189,900

Vendor take-back financing is available on this 1.54-acre lot in the Village of Ormond, giving buyers flexibility to secure the land now and move toward construction before fully paying out the purchase. Several key items are already in place or underway. A brand-new drilled well is already on site, and a new driveway and culvert are being installed. An engineered site plan showing a proposed septic layout has also been prepared and is visible in the listing photos, helping buyers better understand the potential layout and next steps for building. With current government HST rebate programs potentially available for qualifying new construction, now may be an excellent time for buyers to move ahead with a new build rather than waiting. Buyers should confirm rebate eligibility with their accountant, builder, or lawyer. Located just minutes from Winchester and within an easy drive to Ottawa South, this lot offers a practical rural setting with space for a custom home, garage, gardens, and outdoor living. A septic system will be required, but with the well in place, driveway access underway, and a proposed septic/site layout already prepared, this is a strong option for buyers looking to move more efficiently toward building their country home.

MLS number
X13641866
Type
Vacant Land
Status
Active
Bedrooms
0
Bathrooms
0
Postal code
K0C 2K0
Photos
15
Laundry
Not in the unit
38days · 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.

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.

$37,980 · minimum here is $9,495
$840.84per month
Borrowed before insurance$151,920
Total borrowed$151,920
Interest over 25 years at 4.5%$100,331

If you rented it out

-$840.84per month out of pocket
Rent$0.00
Everything it costs to hold$840.84
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 REAL BROKER ONTARIO LTD.. Listing data provided by the Toronto Regional Real Estate Board.