$589,900

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297 Fairbank Place, Thunder Bay (River Terrace) - Single Family for Sale

297 Fairbank Place, Thunder Bay (River Terrace), Ontario, P7B5M3

4 beds3 baths parking

312 Wade Crescent, Thunder Bay (River Terrace), Ontario, P7B6K5

5 bd5 ba4 pk3,250 ft²Lot size 66 × 118 ft (7,747 sq ft)

Listed by REMAX Generations Realty

Investment analysis

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$589,900

Thunder Bay

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Overview

This 4-bedroom, 3-bathroom home in Thunder Bay is for sale offering roughly 1,300 sq ft of space. Listed at $589,900, it is attractively priced about 26% below the $799,000 median asking price in Thunder Bay. It has been on the market 2 days, fresher than the Thunder Bay average of 5 days.

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Description

River Terrace Sidesplit on a nice pie shaped lot with mature trees and a large detached garage. The sidesplit design offers fun on many levels. The house just keeps on going providing different levels with different features. 4 bedrooms, rec room with gas fireplace and lower level with laundry and a ton of storage. (id:66096)

Property Details

MLS®: X14140256
Property Type: Single Family
Bedrooms: 4
Beds (above / below): 3 above · 1 below
Bathrooms: 3
Half Baths: 2
Parking: 6
Interior Size: 1,300 ft²
Lot Size: 41 × 181 ft (7,502 sq ft)
Frontage: 41 ft
Basement: Full
Heating: Forced air, Natural gas
Cooling: Central air conditioning
Garage: Detached Garage, Garage
Fireplace: Yes
Ownership: Freehold
Property Tax: $5,730.96/yr
Listed: 2 days ago

Rooms

Main level

Living room: 3.68 x 5.36 meters
Kitchen: 2.65 x 3.74 meters
Dining room: 2.74 x 3.74 meters

Basement

Laundry room: 3.05 x 2.22 meters
Bedroom 4: 3.05 x 2.44 meters
Family room: 3.69 x 5.21 meters
Recreational, Games room: 4.17 x 4.57 meters
Other: 1.83 x 3.05 meters

Second level

Primary Bedroom: 3.16 x 4.32 meters
Bedroom 2: 3.16 x 3.53 meters
Bedroom 3: 3.05 x 2.74 meters

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

Market Timing

Days on market

Thunder Bay (River Terrace) listings, avg age

Price / ft²

$454

List price

$590K

Homes here sell faster than most markets

Sold homes in this market spent an average of 24 days on the market over the past year, against a median of 48 days across the markets we publish.

Homes here sell close to asking price

Homes in this market sold for an average of 107.5 percent of their asking price over the past year, above the 96.4 percent median across the markets we publish.

Area context

Neighbourhood profile (P7B)

This home lists at $589,900, about 8.4× the local median household income of $70,000.

Carrying it typically needs a household income of about $115,228 (20% down, 25-yr amortization, stress-tested) — roughly 65% above the area median.

Median household income: $70,000
Population: 22,675
Median age: 40.8
Owner / renter: 55% / 45%
Avg. household size: 2.2

Source: Statistics Canada, 2021 Census (FSA P7B)

$589,900· $454/ft²

For sale

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Full Cost Breakdown

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Down Payment5.76% · $33,990.00

Min 5.76%50%

Mortgage payment$3,082/mo

↳ CMHC premium ($22,236 capitalized)

Property tax (est.)$478/mo

Total monthly$3,560

Cash Needed to Close

Down payment (5.76%)$33,990

Land transfer tax$8,273

Est. closing costs$4,270

Total cash needed$46,533

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

297 Fairbank Place, Thunder Bay (River Terrace) - Single Family for Sale

Rental cashflow calculator

Description

Property Details

Rooms

Features

Services

Market Timing

Location

Nearby Places

Neighbourhood profile (P7B)

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