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$1,420,000
Magnetawan
Times shown are local to the property.
175 Old Man's Lake Lane, Magnetawan (Spence), Ontario, P0A1P0
This 5-bedroom, 3-bathroom home in Magnetawan is for sale offering roughly 2,750 sq ft of space. It has been on the market 90 days, fresher than the Magnetawan average of 104 days.
Visit the REALTOR website for further information about this Listing. Paradise Found! Set in a serene and private location on the shores of Old Mans Lake, this exceptional property offers 348 feet of pristine lake frontage on over 8 acres of land. The gently sloping lot leads to the water's edge, providing plenty of usable space and direct access to a good-sized lake ideal for all types of water activities, from boating and swimming to snowmobiling in the winter. Both summer and winter fishing are enjoyed here, making it a true year-round retreat. Inside, the primary suite features a luxurious ensuite with an Ultra Thermo-Masseur massage bath for the ultimate in relaxation. The lower level offers a spacious recreation room complete with a large plasma TV and a cozy wood stove, perfect for family gatherings or movie nights. A convenient kitchenette with a sink, small fridge, and microwave makes this level a great candidate for a guest suite, especially with its separate entrance. Comfort is assured year-round with an upgraded geothermal system, delivering efficient heating in the winter and cooling in the summer, complemented by additional infrared heating on the lower level. Turn-key summer rental with excellent income potential. Making it move-in ready Whether you're looking for a peaceful family getaway, a recreational paradise, this stunning lakefront estate truly has it all. (id:66096)
Features and services as supplied by the listing brokerage.
Long Listed: 90 days on market, against an average age of 104 days across the listings currently for sale in this city
Homes here sell below asking price
Homes in this market sold for an average of 94.6 percent of their asking price over the past year, below the 96.4 percent median across the markets we publish.
This 5-bed single family in Magnetawan (Spence) has been listed for 90 days, which is 14 days fresher than the city average of 104. Act while there is still low competition.
Approximate location — exact address confirmed upon showing
This home lists at $1,420,000, about 20.9× the local median household income of $68,000.
Carrying it typically needs a household income of about $277,376 (20% down, 25-yr amortization, stress-tested) — roughly 308% above the area median.
Source: Statistics Canada, 2021 Census (FSA P0A)
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Loading rates, 30-yr amortization
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