Homula Realty Brokerage
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8863 Wellington 124 Road, Erin, ON N1H 6H7

Farm
$2,995,000

Investment Land - 19.11 Acres Adjacent To Existing Residential Subdivision In The Hamlet Of Ospringe at the Intersection Of Highway 124 & 125. 3 Bedroom Farmhouse, 2200 Sq Ft Bank Barn, 7200 Sq Ft Coverall. Generate Income While Waiting On Development. The Opportunity Is Waiting For You. **EXTRAS** *Vendor Financing Available." Re-Zoning And Due Diligence The Responsibility Of The Buyer

MLS number
X13738456
Type
Farm
Status
Active
Bedrooms
—
Bathrooms
—
Postal code
N1H 6H7
Photos
47
Property tax
$2,874 / year
10days · 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 6 times.

Sale history is for registered usersSee what this address sold for and when, across all 6 listings. Free account — the board’s rules require one before sold data can be shown.Create a free account

Where this property is

Where this address sits, matched against open government data.

Approximate — placed from the postal code, which can cover a block or more.

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 714 people.

$139,000Median household income
88.9%Own their home
95.8%Detached houses
45.2Median age
19.4%Born outside Canada
23.9%University degree

The neighbourhood, by the census

Statistics Canada 2021 Census for dissemination area 35230354 — the few blocks around this address, home to 714 people. It describes the area, not this property.

714Population
42Average age
3Household size
$170,000Average household income
$139,000Median household income
89%Own their home
11%Rent
0%Condominiums
19%Born outside Canada
24%University degree
$1,420,000Average home value
4%Low income
47%Not in the labour force
24%Never married
$20,000 to $24,9991%
$35,000 to $39,9991%
$40,000 to $44,9991%
$45,000 to $49,9993%
$50,000 to $59,9993%
$60,000 to $69,9993%
$70,000 to $79,9993%
$80,000 to $89,9993%
$90,000 to $99,9991%
$100,000 and over41%
$100,000 to $124,9998%
$125,000 to $149,9995%
$150,000 to $199,99911%
$200,000 and over18%

Percentages are of the 400 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.

$599,000 · minimum here is $599,000
$13,261.21per month
Borrowed before insurance$2,396,000
Total borrowed$2,396,000
Interest over 25 years at 4.5%$1,582,364

If you rented it out

-$13,500.71per month out of pocket
Rent$0.00
Everything it costs to hold$13,500.71
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 MEADOWTOWNE REALTY. Listing data provided by the Toronto Regional Real Estate Board.