$1,995,000
Algoma, Unorganized, North Part
775 556 Highway, Algoma, Unorganized, North Part, Ontario, P6A5K7
This 3-bedroom, 4-bathroom home in Algoma, Unorganized, North Part is for sale. Its $1,995,000 asking price sits right in line with the $1,995,000 median in Algoma, Unorganized, North Part.
An exceptional waterfront estate on Lower Island Lake, 775 Highway 556 offers a scale and presence rarely found in the surrounding market. Set on approximately 0.93 acre with an extraordinary 500 feet of shoreline wrapping around a prominent point, the property enjoys expansive water views and an immersive connection to the lake from multiple sides. At approximately 5,900 square feet, the custom residence delivers a distinctive Northern Ontario lodge aesthetic defined by substantial timber detailing, natural stone, soaring architectural lines and extensive lakeside glazing. Generous principal rooms provide exceptional space for family and entertaining, while the home's thoughtful orientation places the waterfront at the centre of the experience. Outside, extensive decking and covered outdoor living areas transition seamlessly toward beautifully maintained grounds and the shoreline beyond. The point configuration creates an impressive sense of waterfront presence, with established landscaping, docking and multiple vantage points from which to enjoy the peaceful Lower Island Lake setting. Adding considerably to the offering are two double garages, providing outstanding capacity for vehicles, boats, recreational equipment, workshop space or collections-a particularly valuable complement to a property designed for four-season Northern Ontario living. Generous craft room plus additional recreational areas perfectly complement the living space. Substantial in every respect, this is far more than a conventional lake house. It is a complete waterfront estate combining approximately 5,900 square feet of living space, remarkable shoreline, extensive infrastructure and unmistakable lodge character within one cohesive property. 775 Highway 556 represents a rare opportunity to acquire a difficult-to-replicate waterfront holding just outside Sault Ste. Marie-equally suited to year-round living, an extended family retreat or a lasting Northern Ontario legacy property. (id:66096)
Features and services as supplied by the listing brokerage.
Extended: 37 days on market, against an average age of 32 days across the listings currently for sale in this city
Homes here sell slower than most markets
Sold homes in this market spent an average of 75 days on the market over the past year, against a median of 48 days across the markets we publish.
Homes here sell below asking price
Homes in this market sold for an average of 92.0 percent of their asking price over the past year, below the 96.4 percent median across the markets we publish.
This 3-bed single family in Algoma, Unorganized, North Part is available now. Want me to connect you with the agent or keep you posted on any price updates?
Approximate location — exact address confirmed upon showing
This home lists at $1,995,000, about 25.6× the local median household income of $78,000.
Carrying it typically needs a household income of about $389,693 (20% down, 25-yr amortization, stress-tested) — roughly 400% above the area median.
Source: Statistics Canada, 2021 Census (FSA P6A)
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Loading rates, 30-yr amortization
Cash Needed to Close
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Room details as supplied by the listing brokerage. Dimensions are shown in the unit the listing states, and are approximate.
