$1,200,000

For sale

42687 Water Tower Line, Central Elgin - Single Family for Sale

42687 Water Tower Line, Central Elgin, Ontario, N5P3T1

0 beds0 baths0 parking350 ft²301 × 700 ft (4.83 acres) lot sizeListed 8 days ago

Overview

This home in Central Elgin is for sale offering roughly 350 sq ft of space. It has been on the market 8 days, fresher than the Central Elgin average of 66 days.

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Description

Explore the possibilities on approximately 5 picturesque acres at 42687 Water Tower Line in Central Elgin. House and shop to be retained by Seller. Beautiful trees, natural surroundings and a scenic Kettle Creek setting close to Waterworks park create an exceptional backdrop for a private estate or potential development of premium residential lots. Conveniently located within a short commute of London and St. Thomas, this property combines country appeal with easy access to city amenities. Potential configurations could include a single estate lot or residential subdivision subject to all required approvals. No final lot configuration has been established. Buyers are responsible for completing all due diligence regarding zoning, servicing, severance or subdivision potential, permitted uses and development approvals. (id:66096)

Property Details

MLS®: X14119498
Property Type: Single Family
Bedrooms: 0
Beds (above / below): 0 above · 0 below
Bathrooms: 0
Parking: 0
Interior Size: 350 ft²
Lot Size: 301 × 700 ft (4.83 acres)
Frontage: 301 ft
Basement: None
Heating: Other, Other
Cooling: None
Garage: No Garage
Ownership: Freehold
Property Tax: $6,246/yr
Listed: 8 days ago

Services

Sewer: Septic System
Utilities: Electricity

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

Central Elgin listings, avg age

66d

Price / ft²

$3,433

List price

$1.20M

Homes here sell slower than most markets

Sold homes in this market spent an average of 66 days on the market over the past year, against a median of 48 days across the markets we publish.

Haho

This single family in Central Elgin has been listed for 8 days, which is 58 days fresher than the city average of 66. Act while there is still low competition.

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Listed by CALL IT CLOSED INTERNATIONAL BROKERAGE · RYAN FEATHERSTONE

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (N5P)

This home lists at $1,200,000, about 15.5× the local median household income of $77,500.

Carrying it typically needs a household income of about $234,402 (20% down, 25-yr amortization, stress-tested) — roughly 202% above the area median.

Median household income: $77,500
Population: 21,081
Median age: 42.8
Owner / renter: 68% / 32%
Avg. household size: 2.4

Source: Statistics Canada, 2021 Census (FSA N5P)

$1,200,000· $3,433/ft²

For sale

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Full Cost Breakdown

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Current Rates

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Down Payment7.92% · $95,000

Min 7.92%50%

Mortgage payment$6,126/mo

↳ CMHC premium ($44,200 capitalized)

Property tax (est.)$521/mo

Total monthly$6,647

Cash Needed to Close

Down payment (7.92%)$95,000

Land transfer tax$20,475

Est. closing costs$6,100

Total cash needed$121,575

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Rates via our partner mortgage brokers at iShopRates · Estimates only, not financial advice

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