$1,000,000

For saleJust listed

3558 E Burrows Bay Road, Severn - Single Family for Sale

3558 E Burrows Bay Road, Severn, Ontario, L0K1E0

2 beds1 bath10 parking900 ft²272 × 201 ft (1.25 acres) lot sizeListed 2 days ago

Overview

This 2-bedroom, 1-bathroom home in Severn is for sale offering roughly 900 sq ft of space. It has been on the market 2 days, fresher than the Severn average of 89 days.

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Description

An exceptional opportunity to secure an expansive waterfront property on sought-after Gloucester Pool, surrounded by impressive luxury cottages and waterfront homes. This modest 2-bedroom cottage offers a rare chance to create your own waterfront retreat in an established and highly desirable setting. Whether you envision a custom cottage or a future waterfront dream home, the property offers an outstanding canvas to bring your vision to life. Enjoy the beauty of Georgian Bay area waterways, boating, swimming, and the relaxed lifestyle that makes this region so special. A rare opportunity to invest in the setting, embrace the potential, and create something truly special on Gloucester Pool. (id:66096)

Property Details

MLS®: S14140180
Property Type: Single Family
Bedrooms: 2
Beds (above / below): 2 above · 0 below
Bathrooms: 1
Parking: 10
Interior Size: 900 ft²
Lot Size: 272 × 201 ft (1.25 acres)
Frontage: 272 ft
Storeys: 1
Style: Bungalow
Basement: None
Heating: Baseboard heaters, Electric
Cooling: None
Garage: No Garage
Waterfront: Yes
Ownership: Freehold
Property Tax

Rooms

Main level

Kitchen: 3.72 x 3.54 meters
Bedroom: 2.24 x 2.2 meters
Bedroom 2: 2.24 x 2.2 meters
Other: 2.24 x 1.22 meters

Other

Bathroom

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

Features

Foundation: Wood/Piers
Exterior: Wood
Lot Features: Wooded area, Irregular lot size, Rocky, Hilly

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

Severn listings, avg age

89d

Price / ft²

$1,111

List price

$1M

Homes here sell below asking price

Homes in this market sold for an average of 94.5 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 Severn has been listed for 2 days, which is 87 days fresher than the city average of 89. Act while there is still low competition.

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Listed by RE/MAX HALLMARK CHAY REALTY · HEATHER BEAUCHESNE

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (L0K)

This home lists at $1,000,000, about 11.4× the local median household income of $88,000.

Carrying it typically needs a household income of about $195,335 (20% down, 25-yr amortization, stress-tested) — roughly 122% above the area median.

Median household income: $88,000
Population: 38,386
Median age: 50.8
Owner / renter: 90% / 11%
Avg. household size: 2.4

Source: Statistics Canada, 2021 Census (FSA L0K)

$1,000,000· $1,111/ft²

For sale

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Full Cost Breakdown

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Down Payment7.50% · $75,000

Min 7.50%50%

Mortgage payment$5,128/mo

↳ CMHC premium ($37,000 capitalized)

Property tax (est.)$540/mo

Total monthly$5,668

Cash Needed to Close

Down payment (7.50%)$75,000

Land transfer tax$16,475

Est. closing costs$5,500

Total cash needed$96,975

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