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Listed 7 months ago

250 South Summit Farm Road

King City, King

$6,280,000

Detached|Bungalow
4 | 3 | 13
About this home

Rare opportunity to acquire a prime acreage WITHIN the King City Village boundaries on the Official Plan! This property, is located in the coveted southern most part of King City adjacent to lands in the process of residential development. Consists of elevated & gently sloping land with idyllic views of a charming pond. Most of the pond lies on adjacent parcels to the south that are not included in the approx. 11 acres. Minutes to Hwy 400, Canada's Wonderland, Cortellucci Vaughan Hospital. **EXTRAS** The property, including all structures thereon, including well, are in "as is" condition & there are no representations or warranties, express or implied. Actual number of rooms in structures has not been verified. Square footage of structure is very approximate and is not to be taken as a representation; cannot be verified. Kindly do not walk property without listing agent. Notwithstanding the requirement to state in the MLS listing whether HST is in addition to or included in the purchase price, this statement is not a representation or warranty. The applicability of HST can only be determined by the parties' tax professionals taking into account all of the facts of a specific sale.

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Milad Momtaz Azad
Milad Momtaz Azad
(647) 510-8858
Julian Kashani
Julian Kashani
(416) 837-7775
TypeDetached
StyleBungalow
Approx. AgeNot available
Size2500-3000 sq. ft.
Property Tax$12,894
Lot Size241.2 ft x 681.63 ft
mls© NumberN12659894
Listed ByRE/MAX HALLMARK YORK GROUP REALTY LTD.

Listing History

  • No recent sale history for this listing.
  • No recent lease history for this listing.

Schools

Could you afford this home?

What the bank counts

This home's actual carrying costs, payment stress-tested at 6%

Mortgage, tested at 6%
$32,144
Property tax
$1,074
Heat allowance
$150
Housing costs
$33,368 / mo

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

Down payment20% · $1,256,000
25-yr amortization

Income needed

$1,027,000

gross annual household income

Payment at 4%
$26,427 / mo
Cash down
$1,256,000

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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