Homula Realty Brokerage
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2584 Contau Lake Road, Highlands East, ON K0M 1R0

2+1 beds · 1 bath · 1 kitchen · 6+4 rooms · 4 parking spaces · 700-1100 sq ft · Rural Residential
$285,000
Property tax
$1,594 / year

A great opportunity for first-time buyers, retirees, or anyone looking for a private property with room to grow. Set on just under 2 acres, this 2+1 bedroom bungalow offers a peaceful setting with plenty of privacy and potential. The home is ready for some updating, making it an ideal opportunity to bring your own style and ideas to life. The practical bungalow layout offers comfortable living with the added benefit of a partially finished walkout basement, providing additional space and plenty of potential for future finishing. A detached garage offers convenient storage and workspace, while the spacious lot provides room to enjoy the outdoors, garden, or simply relax and take in the peaceful surroundings. Located on a year-round municipal road close to the hamlet of Gooderham. Whether you're searching for an affordable starter home, a comfortable retirement property, or an opportunity to build equity through updates, this property is full of possibilities and well worth a look!! Bring your ideas and make this your own!!

MLS number
X13715704
Type
Rural Residential
Status
Active
Bedrooms
3
Bathrooms
1
Postal code
K0M 1R0
Photos
23
18days · 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.

Estimated from the house-number range along this road: the right block of the right street, not the exact building. No address file publishes this house.

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 958 people.

$65,500Median household income
87.6%Own their home
97%Detached houses
59.2Median age
8.6%Born outside Canada
18%University degree

The neighbourhood, by the census

Statistics Canada 2021 Census for dissemination area 35460080 — the few blocks around this address, home to 958 people. It describes the area, not this property.

958Population
53.7Average age
1.9Household size
$80,000Average household income
$65,500Median household income
88%Own their home
12%Rent
0%Condominiums
9%Born outside Canada
18%University degree
$576,000Average home value
17%Low income
15%Never married
Under $5,0002%
$10,000 to $14,9992%
$15,000 to $19,9992%
$20,000 to $24,9992%
$25,000 to $29,9996%
$30,000 to $34,9994%
$35,000 to $39,9994%
$40,000 to $44,9993%
$45,000 to $49,9994%
$50,000 to $59,9996%
$60,000 to $69,9994%
$70,000 to $79,9995%
$80,000 to $89,9996%
$90,000 to $99,9994%
$100,000 and over23%
$100,000 to $124,9999%
$125,000 to $149,9995%
$150,000 to $199,9995%
$200,000 and over5%

Percentages are of the 640 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.

$57,000 · minimum here is $14,250
$1,261.92per month
Borrowed before insurance$228,000
Total borrowed$228,000
Interest over 25 years at 4.5%$150,576

If you rented it out

-$1,394.75per month out of pocket
Rent$0.00
Everything it costs to hold$1,394.75
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 Professionals North. Listing data provided by the Toronto Regional Real Estate Board.