$799,000

For sale

509 South Iron Mine Road South, Lanark Highlands - Single Family for Sale

509 South Iron Mine Road South, Lanark Highlands, Ontario, K0G1K0

3 beds2 baths12 parking1,750 ft²324 × 700 ft (5.20 acres) lot sizeListed 75 days ago

Overview

This 3-bedroom, 2-bathroom home in Lanark Highlands is for sale offering roughly 1,750 sq ft of space. It has been on the market 75 days, fresher than the Lanark Highlands average of 106 days.

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Description

This carefully restored cedar log home sits on nearly 5.5 acres of property with 324 feet of waterfront on the Mississippi River. This is a unique property with elevated views of the river and a rich variety of trees. The home is set back from the road offering exceptional privacy. The home features a large separate sleeping Bunkie/work space and a huge screened in porch with additional views of the river. Large living spaces make this cottage style home very comfortable. The property has many comfortable spaces to sit quietly, or enjoy the sound of the river with great views of the forest or some nearby rapids. An on site visit is definitely the best way to experience all that the property has to offer. (id:66096)

Property Details

MLS®: X13702736
Property Type: Single Family
Zoning: Residential
Bedrooms: 3
Beds (above / below): 3 above · 0 below
Bathrooms: 2
Parking: 12
Interior Size: 1,750 ft²
Lot Size: 324 × 700 ft (5.20 acres)
Frontage: 324 ft
Storeys: 2
Basement: Crawl space
Heating: Heat Pump, Wood
Cooling: Wall unit
Garage: No Garage
Fireplace: Yes
Waterfront: Yes
Ownership

Rooms

Ground level

Living room: 7.18 x 6.09 meters
Dining room: 6.14 x 4.57 meters
Kitchen: 2.92 x 2.84 meters
Solarium: 3.45 x 2.17 meters

Second level

Primary Bedroom: 5.1 x 4.59 meters
Bedroom 2: 4.95 x 3.83 meters
Bedroom 3: 5.28 x 3.35 meters

Room details as supplied by the listing brokerage. Dimensions are shown in the unit the listing states, and are approximate.

Features

Appliances: Water Heater
Foundation: Block
Exterior: Wood, Log
Lot Features: Wooded area, Irregular lot size, Lane, Hilly

Services

Water: Dug Well
Sewer: Septic System
Utilities: Electricity, Cable, Electricity Connected

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

75d

Lanark Highlands listings, avg age

106d

Price / ft²

$457

List price

$799K

Homes here sell slower than most markets

Sold homes in this market spent an average of 60 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 94.4 percent of their asking price over the past year, below the 96.4 percent median across the markets we publish.

Haho

This 3-bed single family in Lanark Highlands has been listed for 75 days, which is 31 days fresher than the city average of 106. Act while there is still low competition.

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Listed by DETAILS REALTY INC. · Ross Long

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (K0G)

This home lists at $799,000, about 8.5× the local median household income of $94,000.

Carrying it typically needs a household income of about $156,073 (20% down, 25-yr amortization, stress-tested) — roughly 66% above the area median.

Median household income: $94,000
Population: 39,862
Median age: 50.4
Owner / renter: 88% / 12%
Avg. household size: 2.4

Source: Statistics Canada, 2021 Census (FSA K0G)

$799,000· $457/ft²

For sale

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Full Cost Breakdown

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Down Payment6.87% · $54,900

Min 6.87%50%

Mortgage payment$4,125/mo

↳ CMHC premium ($29,764 capitalized)

Property tax (est.)$317/mo

Total monthly$4,442

Cash Needed to Close

Down payment (6.87%)$54,900

Land transfer tax$12,455

Est. closing costs$4,897

Total cash needed$72,252

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