For Sale · Land

Lot 143 City View Drive, Mermaid

Lot 143 City View Drive, Mermaid, PE C1B0V8

$179,000 total

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Asset Class

Land

Size

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Building class

B

Zoning

UR — Urban Reserve

$ / SF

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Occupancy

91%

Lot Size

2.2 ac

About this property

RIVERFRONT MAGIC IN MERMAID! This isn?t just a piece of land, it?s the blank canvas for your dream build. Sitting right on the peaceful banks of the Hillsborough River, this sprawling 2.19-acre waterfront lot gives you that rare balance of true coastal quiet without feeling out in the middle of nowhere. Starting your mornings with a quiet coffee over the water, watching the river mist clear, or pulling out the kayak right from your own backyard in the afternoon. Whether you?re planning a sleek, modern build or a cozy maritime house with big porches, there?s more than enough space and depth here to make it happen. The heavy lifting is already taken care of, too: - 2.19-acre surveyed lot (8,854 sq. m.) - Perc tested Category II - Year round road - HST exempt - Restrictive covenants to protect your investment over time Even with all that peace and quiet, you?re only 15 minutes from Stratford and an easy drive over the Hillsborough Bridge into downtown Charlottetown for dinner, coffee, or groceries. Waterfront. Total privacy. 15 minutes to town. Boundaries are approximate. (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$179K
Down payment30% · $54K
Interest rate6.25%
Amortization25 years
Occupancy91%
Expense growth2.5%

Monthly debt service

$827

Projected NOI

$7K

Annual cash flow

$-3K

Cash-on-cash

-4.97%

DSCR

0.73

Going-in cap

4.05%

Figures are modelled from the listed price and asset class for illustration only. Verify all income, expenses, and financing terms independently before making an offer.

Area demographics

Trade area within 3 miles of the property.

Population

116,854

Households

51,544

Median income

$69,500

Median age

38.2

Daytime population

174,693

5-yr growth

8.7%

Modelled estimates for illustration until a licensed census data provider is connected.

Secure deal room

Confidential diligence documents for Lot 143 City View Drive, Mermaid.

NDA required
  • Offering Memorandum

    PDF · 4.2 MB

  • Rent Roll & T-12

    XLSX · 820 KB

  • Environmental Phase I

    PDF · 6.7 MB

  • Site Survey & Plans

    PDF · 11.4 MB

  • Zoning Confirmation Letter

    PDF · 310 KB

Preview experience — the electronic NDA is illustrative and is not a binding agreement.