Description

Excellent opportunity to acquire approximately 30 acres of residential land in Faraday Township, just outside Bancroft. Surrounded by mature trees, the property offers a private, natural setting while remaining close to town amenities and the renowned Eagle's Nest Lookout and Adventure Park.The property benefits from two access points via Moore Lane and Eagle's Nest Park Road, providing excellent flexibility for future development. A preliminary 23+ lot subdivision concept has already been prepared, with private well and septic contemplated for each lot.Projected lot values of approximately $100,000-$120,000 each provide potential gross lot sale proceeds of approximately $2.3M-$2.76M based on 23 lots.A unique opportunity for a developer or investor to secure a sizeable residential development parcel in a highly desirable forested setting near Bancroft. Buyer to complete their own due diligence regarding zoning, subdivision approvals, lot yield, servicing, environmental matters and development potential. (id:66096)

Market Timing

Days on market

79d

Bancroft (Bancroft Ward) listings, avg age

104d

List price

$450K

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 (Bancroft Ward) has been listed for 79 days, which is 25 days fresher than the city average of 104. Act while there is still low competition.

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Area context

Neighbourhood profile (K0L)

This home lists at $450,000, about 5.7× the local median household income of $79,000.

Carrying it typically needs a household income of about $87,901 (20% down, 25-yr amortization, stress-tested) — roughly 11% 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)

$450,000

For sale

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Financing

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0 MOORE Lane, Bancroft (Bancroft Ward) - Vacant Land for Sale

Description

Property Details

Market Timing

Location

Nearby Places

Neighbourhood profile (K0L)

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