Description

Excellent Infill Development Opportunity! This approximately building lot offers an exceptional opportunity for builders, investors, and those looking to maximize the potential of a well-located property. Preliminary planning has already been completed, including a site plan identifying the proposed building envelope and required setbacks, providing a valuable head start in the development process. The property's current zoning supports a variety of residential possibilities, including the potential for a duplex. Concept plans envision a modern two-storey design featuring either a 480 sq. ft. lower-level unit with a 960 sq. ft. two-storey upper unit, or an alternative layout consisting of two approximately 720 sq. ft. self-contained units. Planned tandem parking accommodates current parking requirements without the need for a garage, maximizing the building footprint and functionality. A fantastic opportunity to build an income-generating investment property or create a thoughtfully designed multi-unit residence in a desirable location. (id:66096)

Market Timing

Days on market

103d

Cambridge listings, avg age

57d

List price

$139K

Homes here sell faster than most markets

Sold homes in this market spent an average of 32 days on the market over the past year, against a median of 48 days across the markets we publish.

Homes here sell close to asking price

Homes in this market sold for an average of 99.9 percent of their asking price over the past year, above the 96.4 percent median across the markets we publish.

Area context

Neighbourhood profile (N1R)

This home lists at $139,000, about 1.8× the local median household income of $77,000.

Carrying it typically needs a household income of about $27,152 (20% down, 25-yr amortization, stress-tested) — within reach of the area median.

Median household income: $77,000
Population: 42,928
Median age: 40.8
Owner / renter: 59% / 41%
Avg. household size: 2.5

Source: Statistics Canada, 2021 Census (FSA N1R)

$139,000

For sale

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Financing

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LOT 3 Bond Street, Cambridge - Vacant Land for Sale

Description

Property Details

Services

Market Timing

Location

Nearby Places

Neighbourhood profile (N1R)

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