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Ridout, Lake of Bays
$1,399,000
"Rare offering" and "rare opportunity" are words sometimes over used in real estate advertising, but for this property they are the perfect description. The property being offered for sale consists of 6+ acres with 759 feet of sandy lakefront PLUS an additional 300 acres of adjoining property. It's all part of an old homestead that includes the original cabin situated on the shores of Wolkin Lake, just minutes from the Village of Dorset. There are only a handful of cottages on Wolfkin Lake and they are all located at one end of the lake. This property sits all by itself at the other end of the lake totally surrounded by forested privacy. The land around the cabin is almost level to the lake with a beautiful view across the lake. This is an off-grid property with the perfect southern exposure and sufficient cleared area to make solar power an easy option. At present a portable generator allows for limited lighting and there are propane appliances. There is an old gravity-fed water system in place. The cabin itself is usable and has a lot of charm if you love old buildings, but it does need TLC. There are 2 bedrooms on the main floor plus an open living/dining area. There is a "bathroom" of sorts but no septic system. The second floor has another separate bedroom and a large open sleeping space. An inviting covered verandah runs the width of the building facing the lake. Behind the cabin is a more recently built barn/garage that is in decent condition and provides ample storage for recreational vehicles and other equipment. There is good seasonal road to the to the cabin property. A separate driveway at the rear of the 300 acres provides access to trails leading throughout the property. This is a very much a rare opportunity for this type of property, especially located in the Dorset area. NOTE: This is an estate sale so the sellers can offer no representations or warranties related to the structures or systems
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| Type | Detached |
| Style | 1 1/2 Storey |
| Approx. Age | Not available |
| Size | 700-1100 sq. ft. |
| Property Tax | $1,618 |
| Lot Size | 759 ft x 381 ft |
| mls© Number | X13627660 |
| Listed By | Royal LePage Lakes Of Muskoka Realty |
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%
- $7,161
- Property tax
- $135
- Heat allowance
- $150
- Housing costs
- $7,446 / mo
Lenders cap these at 39% of gross income — that sets the number.
Income needed
$229,000
gross annual household income
- Payment at 4%
- $5,887 / mo
- Cash down
- $279,800
Assumes no other monthly debts · 25-yr amortization
Full affordability checkInvestment Analysis
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