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254 Prospect Point Road

335 - Ridgeway, Fort Erie

$1,699,900

Detached|Bungalow
2 | 2 | 8
About this home

Welcome to 254 Prospect Point Road- A Rare Lakefront Opportunity in the Heart of Ridgeway-Crystal Beach, where lakefront living meets exceptional opportunity.Situated on the shores of Lake Erie in the Niagara region's South Coast, bordering between the quaint town of Ridgeway and the white sands of Crystal Beach. this remarkable estate-sized lot boasts 155 feet of frontage and 400 feet of depth, making this one of the largest fully serviced in-Town lots along Lake Erie's North ShoreWith its executive presence and impressive curb appeal, the property immediately captures attention from the moment you arrive. A well positioned main floor entrance, double car garage and Lakefront walkout, this home boosts approximately 2850 square feet of expansive living space. The home provides a wonderful canvas for those looking to renovate, modernize, or expand into a spectacular lakefront residence.The expansive property is truly the star of the show. With 155 feet of frontage within the urban boundary, the lot presents exciting potential for those wishing to explore development possibilities. Subject to municipal approvals, buyers may wish to investigate the potential to create two - and possibly three - lakefront lots, making this an extraordinary opportunity for investors or builders seeking premium serviced waterfront land.Whether you are searching for a magnificent lakefront estate property, a renovation project with tremendous upside, or a unique development opportunity along the shores of Lake Erie, 254 Prospect offers a truly rare combination of location, size, and potential. A strong, well-built breakwall is an incredibly important feature for any waterfront property. This one provides excellent protection from waves, erosion, and changing lake conditions while helping preserve and protect the shoreline for years to come property of this scale and waterfront presence seldom becomes available, making this opportunity at 254 Prospect Point South truly unique.

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agent
Jonathan Lee
(647) 983-0770
TypeDetached
StyleBungalow
Approx. AgeNot available
Size2500-3000 sq. ft.
Property Tax$10,620
Lot Size155.42 ft x 400 ft
mls© NumberX13704060
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%
$8,701
Property tax
$885
Heat allowance
$150
Housing costs
$9,736 / mo

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

Down payment20% · $339,980
25-yr amortization

Income needed

$300,000

gross annual household income

Payment at 4%
$7,153 / mo
Cash down
$339,980

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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