McKellar Sale

[kpinheiro]

Anyone have any info on this property in McKellar going for $25k?

[Frank]

Yup

Just call the township office and they will fax you a copy of the maps, etc.. - for free.

You will see that this is a long narrow strip of land that is just off of the causway going to Tait's Island.  This is a very swampy area to begin with - lots of environmentally protected areas, but you can put in a floating dock (I am told).   The property for sale is actually 4 acres in size, but 3 of it is flooded land since they changed the high water mark when they put controls on the lake.  The reamining piece of land you can walk on is about 700 feet long (wide enough for a driveway out to the point which is wider.

The property does widen out at the point a tad, but is still only about 100 feet across at that location.  Zoning requires a minium building of 646 square feet, and setbacks from the water of 7.5 meters - so that is do-able.  However, your real problem will be sewage.  The requirement is for it to be 15 meters (approximately 50 feet) from the water's edge, and with only 100feet across (some of which isn't yours) you will be euchred.  I haven't checked with the local health unit, but you may be able to get away with a holding tank (expensive in the long run since it has to be pumped out regular). 

All in all, I would say that this would be an expensive spot to pitch a tent, but you go see it and make up your own mind.  It is on Lake Manitouwabing, which is really gorgeous (in most areas).

[kpinheiro]

WOW!!  I got the info from the city but would never have figured all that out.  Amazing!!  Thanks for sharing!!

[stanbee]

I have checked with health unit. They will not allow holding tank for newly developed properties. Also, the road frontage is only around 58 feet. I don't see how is it possible to fit a dryway and septic system (you may have a space for septic tank, but drain field will be a problem).
Better be save than sorry.

[falroo]

I had a lot on Lake Simcoe and the with was 49 feet. There is an arobic system that is 60 x 20 and will pass uptodate codes. The main problem I see would be the wet conditions but there are floating homes that could be build there with proper research.

[stanbee]

I called municipality this morning. The highest bid is 90 001, the second high is 85 000

[Rob]

The highest bid is 90 001

Whoever won that bid, must have watched at least a few The Price is Right episodes. 

[jmac2007]

$90,000 sounds like a good price.

Good lots on Manitouwabing are about $225,000. This isn't one of them; however, once you discount:

-$30,000 swampy - have to go out 40 feet to get deep water, lifetime supply of Deep Woods OFF, etc.
-$20,000 extra long driveway and far from power
-$10,000 extra expensive and/or inconvenient sewage system

Value: $165,000

Profit: $75,000

Congrats to the successful bidder!

[Frank]

Value: $165,000

Profit: $75,000

That might be a stretch in this situation.  I would think that they might be able to sell it, once they have done all of the work and also built something on it.  Might profit $50k overall on both property and building.  This is not prime real-estate.  Yes, there are lovely and expensive properties on that lake, but this is certainly not one of them.  I would never have bid 90 on that one. It should have gone for 50 - tops. 

Good luck to whomever purchased it.

[jmac2007]

Frank,

You're right. I think my -$30,000 estimate for being surrounded by swamp and needing a 40 foot long dock to get 10 feet of water was a bit low.

[stanbee]

Check this out!

The lot is listed on MLS for 399 000

http://www.mls.ca/PropertyDetails.aspx?PropertyID=5595513

MLS?: 492800000204100     
 

[Frank]

If you are interested in a lot in McKellar...check out #200821238 on the MLS.  5 acres bush, year road acccess, access to Lake Manitouwabing for $29,500.  This appears to be a back-lot with lots of potential and low price...don't have to bid against anyone on a tax sale.