Lot 16 South Bay Drive, Assiginack, Manitoulin IslandLot 16 South Bay Drive, Assiginack, Manitoulin Island — photo 2Lot 16 South Bay Drive, Assiginack, Manitoulin Island — photo 3Lot 16 South Bay Drive, Assiginack, Manitoulin Island — photo 4Lot 16 South Bay Drive, Assiginack, Manitoulin Island — photo 5Lot 16 South Bay Drive, Assiginack, Manitoulin Island — photo 6Lot 16 South Bay Drive, Assiginack, Manitoulin Island — photo 7Lot 16 South Bay Drive, Assiginack, Manitoulin Island — photo 8Lot 16 South Bay Drive, Assiginack, Manitoulin Island — photo 9Lot 16 South Bay Drive, Assiginack, Manitoulin Island — photo 10Lot 16 South Bay Drive, Assiginack, Manitoulin Island — photo 11Lot 16 South Bay Drive, Assiginack, Manitoulin Island — photo 12Lot 16 South Bay Drive, Assiginack, Manitoulin Island — photo 13Lot 16 South Bay Drive, Assiginack, Manitoulin Island — photo 14Lot 16 South Bay Drive, Assiginack, Manitoulin Island — photo 15Lot 16 South Bay Drive, Assiginack, Manitoulin Island — photo 16Lot 16 South Bay Drive, Assiginack, Manitoulin Island — photo 17Lot 16 South Bay Drive, Assiginack, Manitoulin Island — photo 18Lot 16 South Bay Drive, Assiginack, Manitoulin Island — photo 19Lot 16 South Bay Drive, Assiginack, Manitoulin Island — photo 20Lot 16 South Bay Drive, Assiginack, Manitoulin Island — photo 21Lot 16 South Bay Drive, Assiginack, Manitoulin Island — photo 22Lot 16 South Bay Drive, Assiginack, Manitoulin Island — photo 23Lot 16 South Bay Drive, Assiginack, Manitoulin Island — photo 24
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For Sale · Specialty

Lot 16 South Bay Drive, Assiginack, Manitoulin Island

Lot 16 South Bay Drive, Assiginack, Manitoulin Island, ON P0P1N0

$115,000 total

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Asset Class

Specialty

Size

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Building class

C

Zoning

DC2 — Site Specific

$ / SF

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Occupancy

91%

About this property

An ideal recreational opportunity on Manitoulin Island! Mature treed lot with an enclosed shell of a camp ready for your interior finish at your leisure! Exterior complete with maintenance free siding, and metal roof, windows and doors. Interior framed for two bedrooms and bath, and open area for kitchen, dining and living. Patio doors on south side, with exterior wall ready for your deck. Full open loft great for additional sleeping or storage. Some interior insulating and wiring completed - suitable for off grid power, or option to connect to the hydro service at the street, which is maintained year round by the township. No septic or water currently, outdoor privy on site. Mature trees, peaceful recreation. Walk to public water access on South Bay, and just a short drive to Chi Cheemaun ferry and the town of Manitowaning (services, marina, Rainbow Ridge Golf course etc). (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$115K
Down payment30% · $35K
Interest rate6.25%
Amortization25 years
Occupancy91%
Expense growth2.5%

Monthly debt service

$531

Projected NOI

$7K

Annual cash flow

$487

Cash-on-cash

1.41%

DSCR

1.08

Going-in cap

5.97%

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

136,270

Households

61,142

Median income

$112,000

Median age

44.9

Daytime population

145,897

5-yr growth

7.4%

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

Secure deal room

Confidential diligence documents for Lot 16 South Bay Drive, Assiginack, Manitoulin Island.

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.