$2,698,888 - 5026 Rice Lake Drive, Hamilton Township
Detached for Sale in Hamilton Township
109 days on market- MLS Number
- X12719650
- Property Type
- Detached
- Status
- active
- Days on Site
- 109
- Bedrooms
- 16
- Bathrooms
- 12
- Square Feet
- 5,000+ sqft
- Neighbourhood
- Hamilton Township
- Listing Brokerage
- HOMELIFE LANDMARK REALTY INC.
Property includeds12 detached cottages, 4 cottages with 2 bedrooms and 8 cottages with 1 bedroom, each equipped with its own kitchen, stove or cooking range, and private washroom with a shower. *** situated right by Rice Lake with 257.43 ft of frontage and 143.44 ft of depth, where you can enjoy breathtaking sunrises, sunsets, and tranquil water views. Perfectly designed for flexible use. *** Notably, 4 of the homes have new roofs, ensuring added value and peace of mind for the future owner. Heating is provided through space heaters. *** Adding to its unique appeal, the property has Riparian Rights, allowing for private dock installation within property limits. A dock is installed and removed annually at a cost of approximately $1500 ($750 to install & $750 for take out), providing convenient access for boating and waterfront activities. *** For those with a vision for development, this property also offers the potential to be transformed into a stunning townhouse community. Professionally designed plans for project are already available and can be provided to the buyer as a reference. Connections to experienced planner and architect teams can be arranged. *** Situated in an ideal location, you will be just a short walk from restaurants, parks, trails, the marina, and LCBO, and a quick drive to Port Hope, Cobourg Beach, and Peterborough, with easy access to Highways 401, 115, and 407. A short drive to Kawartha Downs Casino and Racetrack, Peterborough Casino, Costco, Walmart, and more. *** Hospital and clinics are just 17 minutes away, with easy access to Highway 48. Outdoor enthusiasts will enjoy snowmobiling and ice fishing on the frozen Rice Lake during the winter months, and the picturesque Northumberland Forest is just nearby. This property truly offers endless opportunities. Whether you are seeking a retreat, rental investment, or development opportunity, it is an exceptional find.
Estimate your monthly payments for this property
Estimated Payment
$11,938.09/mo
5-yr fixed avg.
Rates shown are estimates based on typical Ontario 5-year fixed rates. Canadian mortgages use semi-annual compounding as required by law. CMHC insurance applies to purchases under $1.5M with less than 20% down. Estimated property tax uses an approximate 0.85% rate. Contact us for current rate options and pre-approval.
Discover Hamilton Township
Hamilton Township is a vibrant community in the Greater Toronto Area, offering excellent amenities, schools, and transportation options. This area is popular with families and professionals seeking a balanced lifestyle with access to urban conveniences and natural spaces.
Why Live in Hamilton Township
- •Convenient location in Hamilton Township
- •Access to local shops and dining
- •Good public transit connections
- •Community parks and green spaces
- •Well-maintained neighbourhoods
Nearby Schools
Transit & Commuting
- •MiWay bus routes throughout the area
- •GO Transit stations within driving distance
- •Easy highway access to 401/403/QEW
- •Walking distance to local amenities
Parks & Amenities
- •Local parks and recreational facilities
- •Community centres
- •Shopping plazas nearby
- •Restaurants and cafes
Lifestyle & Community
Hamilton Township offers a wonderful quality of life with a mix of residential charm and urban convenience. Residents enjoy easy access to schools, parks, and shopping, making it an ideal location for families and professionals alike.
5026 Rice Lake Drive, Hamilton Township
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Monthly Cash Flow Breakdown
Note: These are estimates only. Actual figures may vary based on market conditions, property condition, and other factors. Consult with a financial advisor for personalized advice.
Joe's Thoughts
Honest perspective from 30+ years of GTA real estate experience
Competitive Pricing
At $540/sqft, this is priced below the area average. This could represent genuine value, but let's investigate why. In my experience, underpriced homes often have deferred maintenance, unfavourable layouts, or motivated sellers. I'll help you determine which it is.
Negotiation Opportunity
At 109 days on site, this property has exceeded the typical selling timeline for Hamilton Township. This creates leverage for buyers. The seller may be motivated by carrying costs, life circumstances, or previous deals falling through. I'd recommend a strategic offer below asking with terms that favour you.
Detached Home Advantages
Detached homes in Hamilton Township are increasingly scarce and valuable. You'll have no shared walls, full control over renovations, and typically stronger appreciation. Consider the lot size and potential for future additions or basement apartment income. Detached homes also offer the most flexibility for growing families.
Larger Home Realities
At 5,000 sqft, this is a substantial home. Budget approximately $400-600/month more for utilities compared to an average-sized home. Maintenance costs scale with size too - roof, HVAC, and cleaning all cost more. That said, space is a luxury that's hard to add later, and larger homes often have better resale in family-oriented neighbourhoods.
Excellent Flexibility
With 16 bedrooms, you have genuine flexibility. Beyond the master and kids' rooms, you can have a dedicated home office, guest room, hobby space, or even rental income potential. In today's work-from-home era, extra bedrooms add significant value. Properties with 5+ bedrooms are relatively rare in Hamilton Township.
Bathroom Count Matters
With 12 bathrooms, morning routines are much smoother. Multiple bathrooms significantly improve daily livability and are a major selling point for resale. Buyers consistently pay more for adequate bathroom counts - this is a strong feature.