$865,000

For sale

3872 Elva Lane, Severn - Single Family for Sale

3872 Elva Lane, Severn, Ontario, L0K1E0

2 beds1 bath5 parking900 ft²229 × 195 ft (1.02 acres) lot sizeListed 14 days ago

Overview

This 2-bedroom, 1-bathroom home in Severn is for sale offering roughly 900 sq ft of space. Its $865,000 asking price sits right in line with the $899,900 median in Severn. It has been on the market 14 days, fresher than the Severn average of 89 days.

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Description

Spectacular Waterfront Property on Tea Lake - Privacy, Beautiful Views & Endless Possibilities! Welcome to your private waterfront retreat on beautiful Tea Lake in Severn Township! This charming 2-bedroom plus seasonal bedroom, 1-bath bungalow-style cottage offers an incredible opportunity to enjoy cottage living surrounded by nature. Boasting an impressive 238 feet of deep, clean waterfront, the 1+ acre property features a recently renovated steel-frame dock extending along the shoreline, perfect for swimming, boating, fishing, or simply relaxing while enjoying spectacular lake views. With Crown land bordering two sides, you'll enjoy exceptional privacy in a peaceful natural setting. Enjoy the existing cottage or explore the possibility of building your dream home on this spectacular property. Future development is subject to municipal and regulatory approvals. Although primarily seasonal, the heated waterline and cozy propane fireplace offer the opportunity to extend your enjoyment into the winter months. Imagine relaxing by the fire after a day of snowmobiling, with the snowmobile trail conveniently located at the rear of the property! Close to the famous Big Chute Marine Railway, this property is ideally situated for outdoor enthusiasts, offering excellent boating, fishing, snowmobiling, and exploring nearby waterways. Whether you're seeking a family cottage, a peaceful waterfront escape, or the perfect setting for your dream home, this Tea Lake gem offers an exceptional combination of privacy, natural beauty, and possibilities. Enjoy it today, dream about tomorrow! (id:66096)

Property Details

MLS®: S14101020
Property Type: Single Family
Zoning: SR3
Bedrooms: 2
Beds (above / below): 2 above · 0 below
Bathrooms: 1
Parking: 5
Interior Size: 900 ft²
Lot Size: 229 × 195 ft (1.02 acres)
Frontage: 229 ft
Storeys: 1
Style: Bungalow
Basement: None
Heating: Baseboard heaters, Electric, Propane
Cooling: None
Garage: No Garage
Fireplace: Yes
Waterfront

Rooms

Main level

Kitchen: 2.44 x 2.65 meters
Living room: 6.93 x 3.45 meters
Bedroom: 2.34 x 2.34 meters
Bedroom 2: 3.15 x 2.34 meters
Bathroom: 2.39 x 1.52 meters
Dining room: 3.45 x 3.05 meters
Sunroom: 3.45 x 1.93 meters

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

Features

Appliances: Refrigerator, Stove, Window Air Conditioner, Window Coverings, Water Heater
Foundation: Wood/Piers
Exterior: Wood

Services

Water: Lake/River Water Intake
Sewer: Septic System

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

14d

Severn listings, avg age

89d

Price / ft²

$961

List price

$865K

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 14 days, which is 75 days fresher than the city average of 89. Act while there is still low competition.

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Listed by Royal LePage In Touch Realty · JUDY LARMAND

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (L0K)

This home lists at $865,000, about 9.8× the local median household income of $88,000.

Carrying it typically needs a household income of about $168,965 (20% down, 25-yr amortization, stress-tested) — roughly 92% 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)

$865,000· $961/ft²

For sale

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Full Cost Breakdown

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Down Payment7.11% · $61,500.00

Min 7.11%50%

Mortgage payment$4,455/mo

↳ CMHC premium ($32,140 capitalized)

Property tax (est.)$366/mo

Total monthly$4,821

Cash Needed to Close

Down payment (7.11%)$61,500

Land transfer tax$13,775

Est. closing costs$5,095

Total cash needed$80,370

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