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Listed 1 month ago

43 Ridge Avenue

Rural Ramara, Ramara

$425,000

Detached|Bungalow
3 | 1 | 5
About this home

Welcome to Lagoon City-a unique community featuring a canal system and direct access to Lake Simcoe. Situated on a picturesque waterfront lot, this property offers a rare opportunity to create an ideal home for full-time living or a weekend retreat.Located within walking distance to the local public school, just 15 minutes to Orillia, and only minutes to Lake Simcoe public beaches, marinas, and OFSC trails-this home offers the perfect balance of convenience and lifestyle.It is an excellent choice for those seeking a property with high investment potential or dreaming of building a modern waterfront home in one of Ontario's most desirable lakeside communities.The house is currently undergoing renovation and is ready for a major overhaul. Interior walls have been stripped down to the framework, allowing the new owner to implement their own design and a modern layout without incurring additional demolition costs.The property will be sold As Is. Don't miss the chance to purchase a unique property and make your dream of waterfront living a reality.

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agent
Milad Momtaz Azad
(647) 510-8858
TypeDetached
StyleBungalow
Approx. AgeNot available
Size700-1100 sq. ft.
Property Tax$3,304
Lot Size50 ft x 200 ft
mls© NumberS13516746
Listed ByHOMELIFE/BAYVIEW REALTY INC.

Listing History

  • No recent sale history for this listing.
  • No recent lease history for this listing.

Could you afford this home?

What the bank counts

This home's actual carrying costs, payment stress-tested at 6%

Mortgage, tested at 6%
$2,175
Property tax
$275
Heat allowance
$150
Housing costs
$2,601 / mo

Lenders cap these at 39% of gross income — that sets the number.

Down payment20% · $85,000
25-yr amortization

Income needed

$80,000

gross annual household income

Payment at 4%
$1,788 / mo
Cash down
$85,000

Assumes no other monthly debts · 25-yr amortization

Full affordability check

Investment Analysis

Estimated rent, cap rate and monthly cash flow for this property

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