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Listed 2 months ago

165 Ridge Road E

055 - Grimsby Escarpment, Grimsby

$1,199,000

Detached|Bungalow-Raised
3 | 2 | 5
About this home

Imagine living in your dream home that you built, on the Niagara Escarpment Ridge, offering a stunning view of Grimsby and the Lake! This rare Escarpment building lot measures 110'x 863',providing almost two acres of private, wooded land. The property boasts a private woodlot with trails and direct access to the Bruce Trail. Mature pines and conifers create a Carolinian forest, making it a perfect haven for nature enthusiasts. This property has great development potential with plenty of level land, ideal for building any style of home. There's plenty of room for amenities like a pool, barn, walking trails and a play court. This fabulous location, just south of Grimsby, is close to local amenities and top school districts. Easy access to the QEW makes commuting to Oakville or the border a breeze. The existing house on the property is comfortable and well-appointed, featuring an updated gourmet kitchen, generous family and dining rooms with a fireplace, a primary bedroom with a semi-ensuite, a main floor office or den and a spacious basement with additional utility rooms. This great investment opportunity is offered at a reasonable price, providing an excellent chance: buy now, rent it out until you're ready to build and enjoy the long-term value.

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BrokerHub Inc.
(647) 254-1864
TypeDetached
StyleBungalow-Raised
Approx. Age51-99
Size1100-1500 sq. ft.
Property Tax$6,700
Lot Size110 ft x 863 ft
mls© NumberX13714736
Listed ByRoyal LePage NRC 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%
$6,137
Property tax
$558
Heat allowance
$150
Housing costs
$6,845 / mo

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

Down payment20% · $239,800
25-yr amortization

Income needed

$211,000

gross annual household income

Payment at 4%
$5,046 / mo
Cash down
$239,800

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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