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Listed 3 months ago

3307 Lakecrest Court

335 - Ridgeway, Fort Erie

$1,390,000

Detached|2-Storey
2 | 2 | 10
About this home

Stunning vacation or year-round opportunity to live life on the Lake with your own private beach in the quaint, picturesque town of Ridgeway! Predominantly LAND VALUE - the current home is brought down to the studs and in serious general disrepair. Reimagine this unique structure into a truly charming, one-of-a-kind abode, start fresh and build that dream exactly how you've envisioned, or alternatively investigate its development/severance potential. Incredible views and a tranquil lifestyle on Lake Erie, with over 100 ft of private beach and waterfront, all situated at the end of a quiet cul-de-sac. Extremely close proximity to public beaches, Marinas, walking/biking trails, shops, cafes and restaurants! Ridgeway is long-loved by those who call this lovely town home year-round, as well as a Summer Home destination. Close to the Canadian/US border, and major highways nearby for those looking to live the peaceful life yet commute easily into larger cities. Imagine the opportunity to lie on the beach, swim, boat, kayak, paddle board, Sea-Doo, and fish right in your own backyard!

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agent
Jonathan Lee
(647) 983-0770
TypeDetached
Style2-Storey
Approx. AgeNot available
Size2000-2500 sq. ft.
Property Tax$7,000
Lot Size119 ft x 301 ft
mls© NumberX13620388
Listed ByREVEL Realty Inc., Brokerage

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%
$7,115
Property tax
$583
Heat allowance
$150
Housing costs
$7,848 / mo

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

Down payment20% · $278,000
25-yr amortization

Income needed

$241,000

gross annual household income

Payment at 4%
$5,849 / mo
Cash down
$278,000

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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