$3,000,000

For sale

#Rainy Lake 1 Red Pine Island, Rainy River Remote Area - Single Family for Sale

#Rainy Lake 1 Red Pine Island, Rainy River Remote Area, Ontario, P9A3M3

2 beds1 bath0 parking1,300 ft²Listed 8 days ago

Overview

This 2-bedroom, 1-bathroom home in Rainy River Remote Area is for sale offering roughly 1,300 sq ft of space. It has been on the market 8 days, fresher than the Rainy River Remote Area average of 113 days.

Houses for Sale in Rainy River Remote Area →All real estate in Rainy River Remote Area →

Description

Rare Opportunity! Properties like this do not become available very often. Here is your chance to own your own private island of nearly 60 acres. With a well appointed log cabin and two additional sleeping cabins, it's a place for families to gather and connect. The main cabin has all of the comforts of home, and is connected to US power, has running water and a full bathroom. The living room centers around a large stone fireplace and the rustic decor and attention to detail bring it all together. While the buildings and infrastructure are impressive the real rarity is the shear size of the property. Over 12,000 ft of shoreline, and trails throughout the island it truly is a nature lovers dream. Don't miss your chance to create your own memories and traditions with a Rainy Lake retreat. (id:66096)

Property Details

MLS®: X14121604
Property Type: Single Family
Bedrooms: 2
Beds (above / below): 2 above · 0 below
Bathrooms: 1
Parking: 0
Interior Size: 1,300 ft²
Style: Log house/cabin
Heating: Baseboard heaters, Electric, Wood
Garage: No Garage
Fireplace: Yes
Waterfront: Yes
Property Tax: $1,559.61/yr
Listed: 8 days ago

Rooms

Main level

Living room: 5.48 x 5.63 meters
Primary Bedroom: 5.48 x 4.54 meters
Kitchen: 3.47 x 6.64 meters

Second level

Loft: 3.35 x 7.58 meters

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

Features

Foundation: Unknown
Exterior: Log
Lot Features: Irregular lot size

Services

Water: Lake/River Water Intake
Utilities: Electricity

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

Rainy River Remote Area listings, avg age

113d

Price / ft²

$2,308

List price

$3M

Homes here sell faster than most markets

Sold homes in this market spent an average of 35 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 94.1 percent of their asking price over the past year, below the 96.4 percent median across the markets we publish.

Haho

This 2-bed single family in Rainy River Remote Area has been listed for 8 days, which is 105 days fresher than the city average of 113. Act while there is still low competition.

Set a price alert Book a showing

Listed by REMAX NorthWest Realty Ltd. · Tara Dawn Jerry

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (P9A)

This home lists at $3,000,000, about 36.6× the local median household income of $82,000.

Carrying it typically needs a household income of about $586,005 (20% down, 25-yr amortization, stress-tested) — roughly 615% above the area median.

Median household income: $82,000
Population: 10,079
Median age: 44.8
Owner / renter: 77% / 24%
Avg. household size: 2.3

Source: Statistics Canada, 2021 Census (FSA P9A)

$3,000,000· $2,308/ft²

For sale

Book a showing

Pick a time that suits you. A verified local agent confirms within 24h.

Full Cost Breakdown

Loading rates, 30-yr amortization

Current Rates

Loading…

Compare all rates

Down Payment20% · $600,000

Min 20%50%

Mortgage payment$12,794/mo

Property tax (est.)$130/mo

Total monthly$12,924

Cash Needed to Close

Down payment (20%)$600,000

Land transfer tax$61,475

Est. closing costs$11,500

Total cash needed$672,975

Get Pre-Approved · Free & Fast

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

Rental cashflow calculator