$644,900

$649,900For salePrice drop↓ $5,000 (1%)

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430 Ridge Road North, Fort Erie (Ridgeway) - Multi-family for Sale

430 Ridge Road North, Fort Erie (Ridgeway), Ontario, L0S1N0

7,623 sq ft (0.17 ac) lot sizeListed 88 days ago

Overview

3705 WILLSON Street, Fort Erie (Ridgeway), Ontario, L0S1N0

6 bd4 ba6 pk2,250 ft²Lot size 123 × 75 ft (9,183 sq ft)

Listed by RE/MAX NIAGARA REALTY LTD, BROKERAGE

304 Ridge Rd N Road, Fort Erie (Ridgeway), Ontario, L0S1N0

For sale

204 days ago

$1.50M

304 Ridge Rd N Road, Fort Erie (Ridgeway), Ontario, L0S1N0

5,400 ft²Lot size 23,522 sq ft (0.54 ac)

Listed by REVEL Realty Inc., Brokerage

Investment analysis

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$644,900

Fort Erie

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Description

Excellent development opportunity just steps from historic downtown Ridgeway! Package is for a Three Storey mixed use Residential/Commercial development with Ten Residential units and one curbside commercial storefront. Currently a nicely renovated Two bedroom Two bath home that is move-in ready or ready to rent out while the remainder of the application process is completed. Minor variances have been approved and demolition permit has been applied for and granted, the building permit has also been applied for, Seller will transfer the permit application to the buyer to take on the remaining process and pay the permit deposit. **EXTRAS** Check attachments for plans (id:66096)

Market Timing

Days on market

88d

Fort Erie (Ridgeway) listings, avg age

109d

List price

$645K

Homes here sell slower than most markets

Sold homes in this market spent an average of 62 days on the market over the past year, against a median of 48 days across the markets we publish.

Area context

Neighbourhood profile (L0S)

This home lists at $644,900, about 6.8× the local median household income of $95,000.

Carrying it typically needs a household income of about $125,972 (20% down, 25-yr amortization, stress-tested) — roughly 33% above the area median.

Median household income: $95,000
Population: 60,409
Median age: 53.2
Owner / renter: 87% / 13%
Avg. household size: 2.4

Source: Statistics Canada, 2021 Census (FSA L0S)

$644,900

For sale

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Full Cost Breakdown

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Down Payment6.12% · $39,490

Min 6.12%50%

Mortgage payment$3,356/mo

↳ CMHC premium ($24,216 capitalized)

Property tax (est.)$209/mo

Total monthly$3,566

Cash Needed to Close

Down payment (6.12%)$39,490

Land transfer tax$9,373

Est. closing costs$4,435

Total cash needed$53,298

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

430 Ridge Road North, Fort Erie (Ridgeway) - Multi-family for Sale

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