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Listed 2 months ago

420 Ridge Road

Stoney Creek Mountain, Hamilton

$3,998,000

Detached|2-Storey
5 | 1 | 20
About this home

420 Ridge Road where the fortunes of the past meet the opportunity of the future on this idyllic 77+1- acre farm. Set atop the edge of the escarpment which offers panoramic views of the region this property offers a rare opportunity to own a large piece of property on one of Ontario's estately streets. It is conveniently located 5 minutes from downtown Stoney Creek, close in proximity to both city amenities and all major transportation routes. Step back in time as you explore the original red brick homestead full of character and awaiting a new owner. Complete with slate roof, five bedrooms and large verandas, this gem exudes warmth and charm. The thick beam hip roof barn is sturdy in construction with ample space and provides endless opportunities for a hobby farmer or agri-tourism venture. A steel insulated and heated outbuilding awaits, offering the perfect workshop with concrete floors, wood paneled horse stalls, hot and cold water, electric door entrance. Whether you're a crafts person, an artist, or horse enthusiast, this space is sure to inspire creativity and productivity. Outside large fenced in paddocks and well maintained pastures for grazing are ready to welcome your animals. Whether you're starting a small hobby farm or expanding your agricultural endeavors, this property has everything you need to make your vision a reality. Don't miss your opportunity to own a piece of this paradise at 420 Ridge Road, Stoney Creek Ontario

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agent
Angela Montano
(647) 283-2643
TypeDetached
Style2-Storey
Approx. Age100+
Size2000-2500 sq. ft.
Property Tax$2,768
Lot Size286 ft x 2901 ft
mls© NumberX13442704
Listed ByRE/MAX ESCARPMENT 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%
$20,464
Property tax
$231
Heat allowance
$150
Housing costs
$20,844 / mo

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

Down payment20% · $799,600
25-yr amortization

Income needed

$641,000

gross annual household income

Payment at 4%
$16,824 / mo
Cash down
$799,600

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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