$599,000 - 5308 Rice Lake Scenic Drive Unit 120, Hamilton Township
Detached for Sale in Hamilton Township
48 days on market- MLS Number
- X13035658
- Property Type
- Detached
- Status
- active
- Days on Site
- 48
- Bedrooms
- 3
- Bathrooms
- 1
- Square Feet
- 700 - 1,099 sqft
- Neighbourhood
- Hamilton Township
- Listing Brokerage
- ROYAL HERITAGE REALTY LTD.
Turn key 3 season cottage on beautiful Rice Lake known for excellent fishing & boating. Part of the Trent Severn Waterway. Only 1 hour from GTA. Bright & open concept layout with 3 bedrooms. 3pc bath with laundry on site. Enjoy panoramic views & a lovely sunset. Swimmable waterfront or boat to the nearby sandbar. Some updates include: Metal roof, 100amp breaker panel, heated crawl space for winter use, vinyl siding. Book for private viewing today!
Estimate your monthly payments for this property
Estimated Payment
$3,073.18/mo
Includes CMHC insurance ($16,712)
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.
5308 Rice Lake Scenic Drive Unit 120, 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
Fair Market Value
At $856/sqft, this property is priced in line with current Hamilton Township market conditions. The pricing suggests the seller has done their homework. We may have modest room for negotiation, typically 2-4% in today's market.
Negotiation Opportunity
At 48 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.
Efficient Living
At 700 sqft, this is a more compact space. The upside: lower utility bills, less maintenance, and easier cleaning. Consider how you'll use the space - built-in storage, multi-functional furniture, and good organization become important. Great for singles, couples, or those who prefer a low-maintenance lifestyle.
Starter Home Potential
3 bedrooms works well for couples planning families or small families with one child. Consider whether you might outgrow the space in 5-7 years. If so, factor in potential moving costs when making your decision. Alternatively, some buyers convert a bedroom to an office and make it work long-term.
Investment Perspective
Looking at this as an investment: Hamilton Township properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $2,496 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.