62 Otter Lake Road, Faraday, ON
Property no longer active
This property was sold on October 15, 2025. This listing is for reference purposes only. to view the sold price.
Property Highlights
Welcome to this remarkable 2-Storey detached located in the coveted neighborhood of Faraday. Expertly crafted featuring premium wood construction, this residence presents an exceptional opportunity offered at $139,000 to acquire a beautiful home in a highly sought-after setting. Designed for both comfortable daily living and elegant entertaining, the layout maximizes natural light, functional flow, and lifestyle utility.
- 2 Bedrooms and 1 Bathroom
- Generous living space spanning 700-1100 sqft on a premium 50 x 149.88 ft lot
- Features a unfinished basement, adding superb versatility for recreation, a home gym, or extra storage
- 4.0 total parking spaces available
- Notable attributes: Other
- equipped with central air central cooling and highly efficient heat pump heating via electric
Description
A smart choice for the builder/entrepeneur in you at an affordable price. Situated on a small 50' x 149' lot at the end of a dead end road in the Township of Faraday which gives good privacy and easy accesibility to Bancrofts' services & shopping. This home is designed with a combined dining room kitchen and living room on the main floor, and 2 bedrooms & a 4 piece bath on the second storey on a neat fairly private level lot. There is a need for work to be done here so the property is being sold as is. This home has a new electric heat pump for heating and cooling, an updated roof, 200 amp electrical breaker panel, full block basement, drilled well, septic system on a really neat lot.
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Property Summary
This detached home located at 62 Otter Lake Road, Faraday is currently for sale and has been available on SousaSells for 290 days. This property is listed at $139,000 with an estimated mortgage of $463* per month. It has 2 beds, 1 bathroom, and is 700-1100 square feet. 62 Otter Lake Road, Faraday is in the Faraday neighborhood.
* Estimated mortgage assumes a 30% down payment, 4.00% interest rate, and 30-year amortization.Key Features
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No historical data available for this property.
This could be the first listing for this address.
Pricing & Value Insights
Data-driven valuation for 62 Otter Lake Road, Faraday, ON K0L 1C0
Based on 0 recent similar sales in the pocket.
Properties in this area are selling at a steady pace.
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About Purchasing a Home in Faraday, ON
For a property listed at $139,000 in Faraday, the legal minimum down payment is $6,950 under current Canadian banking regulations. This calculation applies a 5% requirement on the first $500,000, 10% on the next $499,999, and a flat 20% on any amount exceeding $1,000,000.
Additionally, buyers in Ontario must budget for the Provincial Land Transfer Tax, which is estimated at $1,115 for this transaction. As this listing is in Faraday (outside the City of Toronto), no additional municipal land transfer tax is levied, resulting in total estimated land transfer taxes of $1,115.
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Disclaimer: AI Insights are generated by an automated system and should be used for informational purposes only. While we strive for accuracy using current market data and deep-learning models, these assessments do not constitute professional real estate, legal, or financial advice. All property values, predictions, and scores are estimates. We strongly recommend verifying all property details and conducting independent due diligence with a licensed professional before making any purchase decisions.