Description

Excellent opportunity to acquire approximately 59.68 acres of strategically located land just south of Bancroft, minutes from town with direct access along the Highway 62 South corridor near Quarry Road.Formerly designated industrial and commercial, the property has been amended under the County of Hastings Official Plan to Urban Future Development and Urban Environmental Protection, positioning the lands for future residential use. The property is currently held in reserve pending municipal servicing, creating a compelling long-term development and land-banking opportunity.Preliminary projections contemplate approximately 20-40 residential lots, with the conservative scenario based on 20 lots and accounting for wet/environmentally sensitive portions of the site.A rare opportunity to secure a sizeable future residential parcel in a growing Bancroft corridor with significant upside as servicing expands. Buyer to complete their own due diligence regarding zoning, permitted uses, environmental matters, development potential, servicing and access. (id:66096)

Market Timing

Days on market

79d

Bancroft (Dungannon Ward) listings, avg age

82d

List price

$500K

Homes here sell slower than most markets

Sold homes in this market spent an average of 69 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 92.7 percent of their asking price over the past year, below the 96.4 percent median across the markets we publish.

Haho

This vacant land in Bancroft (Dungannon Ward) has been listed for 79 days, which is 3 days fresher than the city average of 82. Act while there is still low competition.

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Area context

Neighbourhood profile (K0L)

This home lists at $500,000, about 6.3× the local median household income of $79,000.

Carrying it typically needs a household income of about $97,668 (20% down, 25-yr amortization, stress-tested) — roughly 24% above the area median.

Median household income: $79,000
Population: 78,142
Median age: 54
Owner / renter: 88% / 12%
Avg. household size: 2.3

Source: Statistics Canada, 2021 Census (FSA K0L)

$500,000

For sale

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Financing

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0 Hwy 62 Highway, Bancroft (Dungannon Ward) - Vacant Land for Sale

Description

Property Details

Market Timing

Location

Nearby Places

Neighbourhood profile (K0L)

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