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Listed 14 days ago

70 Ivy Lane

Orillia, Orillia

$630,000

Detached|Bungalow-Raised
5 | 1 | 1
About this home

Welcome to Grape Island on the north edge of Lake Simcoe, in Orillia! This little piece of heaven is located on an island, only a 2 min boat ride from mainland, and limited to 52 lots and approx. 45 cottages. 1.5h away from Toronto, Grape Island is a small community of friendly owners. Facing the west (quieter) side of the island in a sheltered cove on a large lot of approx. 102 x 190. Deep water access for boating, boat access only. This wonderful cottage was built in 1951 and has been owned by the same family since 1969. It's ready for a new owner to make it their own and create memories. Everything is original. The main cottage is approx. 750 sqft, includes 1-3p bathroom, kitchen/dining, 2 bedrooms and living area. The heat source is propane, has septic, water is pulled through the lake through UV (updated 2024) filtration, wrap around patio in great shape. 2 bunkies, 1 bedroom and 2 bedrooms. 2 boathouses (grandfathered, no longer permitted to build 2 boathouses on Simcoe), and 2 legal docks. Beautifully landscaped. Convenient mainland parking. Main cottage roof was done in 2012. Newest Boathouse was done in 2017. Older Boathouse and 2 cabins were done in 2024. This cottage is a close escape from the city with stunning sunsets that will take your breath away!

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agent
Angela Montano
(647) 283-2643
TypeDetached
StyleBungalow-Raised
Approx. AgeNot available
Size1100-1500 sq. ft.
Property Tax$3,568
Lot Size102.22 ft x 189.07 ft
mls© NumberS13641462
Listed ByREAL BROKER ONTARIO LTD.

Listing History

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  • 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%
$3,225
Property tax
$297
Heat allowance
$150
Housing costs
$3,672 / mo

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

Down payment20% · $126,000
25-yr amortization

Income needed

$113,000

gross annual household income

Payment at 4%
$2,651 / mo
Cash down
$126,000

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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