$179,000

For sale

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Address not available, Elliot Lake - Single Family for Sale

Elliot Lake, Ontario, P5A3H6

3 beds2 baths1,000 ft²Listed 25 days ago

Elliot Lake, Ontario, P5A2L7

3 bd2 ba

Listed by Royal LePage® Mid North Realty Elliot Lake

For saleJust listed

2 days ago

$192K

Elliot Lake, Ontario, P5A2Z5

3 bd1 ba1,000 ft²

Listed by Oak Realty Ltd.

For saleJust listed

5 days ago

$350K

Elliot Lake, Ontario, P5A2E3

5 bd2 ba1,000 ft²

Listed by Oak Realty Ltd.

For sale

9 days ago

$205K

Elliot Lake, Ontario, P5A1H5

3 bd1 ba860 ft²

Listed by Oak Realty Ltd.

Investment analysis

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$179,000

Elliot Lake

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Overview

This 3-bedroom, 2-bathroom home in Elliot Lake is for sale offering roughly 1,000 sq ft of space. Listed at $179,000, it is attractively priced about 30% below the $255,000 median asking price in Elliot Lake. It has been on the market 25 days, fresher than the Elliot Lake average of 66 days.

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Description

Bring your contractor and your design dreams! This detached bungalow sits in a quiet and peaceful settings, backing right onto a lush forest. The main floor features three bedrooms and 4 piece bath. The layout is practical and bright. Comfort is guaranteed with forced air gas and central air conditioning already in place. Downstairs, the partially finished basement offers a rec room, a workshop and storage. This property needs a bit TLC, but it offers a rare chance at affordable living. (id:66096)

Market Timing

Days on market

25d

Elliot Lake listings, avg age

66d

Price / ft²

$179

List price

$179K

Homes here sell below asking price

Homes in this market sold for an average of 92.8 percent of their asking price over the past year, below the 96.4 percent median across the markets we publish.

Area context

Neighbourhood profile (P5A)

This home lists at $179,000, about 3.6× the local median household income of $50,000.

Carrying it typically needs a household income of about $34,965 (20% down, 25-yr amortization, stress-tested) — within reach of the area median.

Median household income: $50,000
Population: 11,372
Median age: 60.4
Owner / renter: 61% / 39%
Avg. household size: 1.9

Source: Statistics Canada, 2021 Census (FSA P5A)

$179,000· $179/ft²

For sale

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Full Cost Breakdown

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Down Payment5% · $8,950

Min 5%50%

Mortgage payment$943/mo

↳ CMHC premium ($6,802 capitalized)

Property tax (est.)$236/mo

Total monthly$1,179

Cash Needed to Close

Down payment (5%)$8,950

Land transfer tax$1,515

Est. closing costs$3,037

Total cash needed$13,502

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

Address not available, Elliot Lake - Single Family for Sale

Rental cashflow calculator

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