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Listed 13 days ago

483 Highway 49 Road

Hallowell Ward, Prince Edward County

$675,000

Detached|2-Storey
5 | 2 | 6
About this home

Attention developers, investors, and builders-this is a rare opportunity within the town limits of Picton. Set on approximately .84 acres with municipal water and sewer, this property presents exceptional redevelopment potential in one of the most sought-after communities inPrince Edward County. While a house currently exists on the property, the highest and best use is redevelopment. The Official Plan supports future residential intensification, and preliminary discussions with a private planner indicate the site could potentially support 8-10residential units through rezoning to R3 or R4. A concept plan is being prepared outlining the potential for a three-storey, three-unit residential building at the front of the property, with additional townhouse units positioned further back on the land. Large parcels with full municipal services inside Picton's settlement boundary are increasingly rare, making this a compelling opportunity for those looking to participate in the continued growth of the community. Notes: House is on a septic, but town sewer is available. Current structure and outbuildings being sold where is, as is.

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BrokerHub Inc.
(647) 254-1864
TypeDetached
Style2-Storey
Approx. Age100+
Size2500-3000 sq. ft.
Property Tax$1,444
Lot Size89.52 ft x 369.24 ft
mls© NumberX13864758
Listed ByHarvey Kalles Real Estate Ltd.

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%
$3,455
Property tax
$120
Heat allowance
$150
Housing costs
$3,725 / mo

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

Down payment20% · $135,000
25-yr amortization

Income needed

$115,000

gross annual household income

Payment at 4%
$2,841 / mo
Cash down
$135,000

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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