288 ABRAM LAKE Road, Sioux Lookout, ON

$804,900
MLS#:X9403502
5 beds
2 baths
1500-2000 sqft
6.0 parking
Residential Freehold
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Property Highlights

Welcome to this remarkable Bungalow detached located in the coveted neighborhood of Sioux Lookout. Expertly crafted featuring premium concrete construction, this residence presents an exceptional opportunity offered at $804,900 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.

  • 5 Bedrooms and 2 Bathrooms
  • Generous living space spanning 1500-2000 sqft on a premium 128.75 x 61.17 ft lot
  • Features a walk-out, separate entrance basement, adding superb versatility for recreation, a home gym, or extra storage
  • 6.0 total parking spaces available with a convenient detached configuration
  • Efficient forced air heating via propane

Description

This property rests on a sandy beach on Abram Lake and includes a very lucrative 2 bed walkout basement rental suite. Located within a 10 minute drive to the hospital close to the end of a quiet cul de sac. 3 bedrooms on the main floor with a 4 piece Jack and Jill bathroom. In the open concept living room, dining room and kitchen you will be amazed by the sunsets in the evening, easily visible through the large south west facing patio doors. You and your family will be entertained by the storms as they make their way across the lake. The breakfast-bar-kitchen island is situated next to the dining table and faces the living room looking over the lake. Entertaining is a breeze and the views always delight guests. You will love the heated garage. No need to get into a frozen car and hope it starts when it is -40C in February, your car will be warm and ready to go. Best of all, you will never need to strap a child into a frozen car seat. The garage also has plenty of extra storage for all of your camping gear, tools and beach toys. The basement suite is easily rented either long term or short term via Airbnb or to visiting locums. We have not been very aggressive with renting the suite and likely average $2000/month from it, but this could easily be increased to $5000 (or above) with minimal effort. We have prioritized visiting healthcare workers, which is why our monthly average is on the lower end. The suite is accessed from the beach side of the house and is fully self-contained with a shared laundry room. Similar to the main floor, the suite has an open concept kitchen, living and dining room. The suite can be offered as a one or 2 bedroom with the back bedroom available to be locked off and used for yourselves, if needed. The closed-in gazebo has been converted into a 3 season guest cabin/call room. This space needs to be seen to be appreciated, the views are UNPARALLELED (you feel like you are sleeping ON the lake).

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Property Summary

This detached home located at 288 ABRAM LAKE Road, Sioux Lookout is currently for sale and has been available on SousaSells for 759 days. This property is listed at $804,900 with an estimated mortgage of $2,679* per month. It has 5 beds, 2 bathrooms, and is 1500-2000 square feet. 288 ABRAM LAKE Road, Sioux Lookout

* Estimated mortgage assumes a 30% down payment, 4.00% interest rate, and 30-year amortization.

Key Features

Bedrooms
5
Bathrooms
2
Kitchens
1
Living Area
1500-2000 sqft
Property Type
Residential Freehold

Additional Details

StatusTerminated
Listed Date6/18/2024
Transaction TypeFor Sale

Property Details

Property Sub-TypeDetached
Architectural StyleBungalow
ConstructionConcrete
BasementWalk-Out, Separate Entrance
Lot Size128.75 × 61.17 Feet
CountyKenora
Annual Tax$8,500
Legal DescriptionPCL 40265 SEC DKF SRO; PT LOCATION SN150 DRAYTON; PT LT 1 RANGE 6 PL RESERVE DRAYTON PT 1, 23R8058 T/W ROW PARTS 1 & 2, 23R5122 AS IN LT203840, LT180079 & LT180080; SIOUX LOOKOUT

Parking & Garage

Parking Spaces6.0
Garage Spaces4
Garage TypeDetached

Heating & Cooling

Heat SourcePropane
Heat TypeForced Air
CoolingNone

Features

Property Features

Interior Features

Security Features

Community Features

Location

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288 ABRAM LAKE Road, Sioux Lookout, ON

Property History

No historical data available for this property.

This could be the first listing for this address.

Pricing & Value Insights

Data-driven valuation for 288 ABRAM LAKE Road, Sioux Lookout, ON P8T 0A7

Estimated Sales Range
$1.2M - $1.4M

Based on 0 recent similar sales in the pocket.

Market Speed
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Properties in this area are selling at a steady pace.

Market Trend
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Mortgage & Affordability Audit

Calculate your monthly payment, minimum downpayment, and land transfer taxes for this home in Sioux Lookout.

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Interest Rate4.00%
Down Payment$241,470 (30.0%)
* Minimum Canadian down payment required for this price is $55,490.
Amortization Period30 Years
Estimated Monthly Payment$2,679Based on a loan of $563,430 over 30 years.
Purchase Price$804,900
Loan Amount$563,430
Provincial Land Transfer Tax:$12,573
Total Estimated Closing Taxes:$12,573

About Purchasing a Home in Sioux Lookout, ON

For a property listed at $804,900 in Sioux Lookout, the legal minimum down payment is $55,490 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 $12,573 for this transaction. As this listing is in Sioux Lookout (outside the City of Toronto), no additional municipal land transfer tax is levied, resulting in total estimated land transfer taxes of $12,573.

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City & Neighborhood Guide

Comprehensive city-wide demographics, local real estate stats, and school rankings for Sioux Lookout.

Verified Local Data
City Population6,202,225
City Median Age39.6 Yrs
City Ownership65% Owners
Avg Area List Price$561,033

People & Families

Age Distribution

Household Composition

One-person households
25%
Families with children
50%
Couples without children
24%
Other households
0%

Top Ethnic Origins

Chinese11%
English9%
Indian9%
Irish8%

Local Schools Guide

Elementary Schools

Sacred Heart
Public41 8th Avenue, Sioux Lookout, Ontario, P8T 1B7
4.8
Sioux Mountain
Public89 First Avenue, Sioux Lookout, Ontario, P8T 1B5
1.5

Secondary Schools

Queen Elizabeth
PublicSioux Lookout, Ontario
2.1

Homes & Housing

Structural Home Types

Tenure (Ownership vs Rental)

Owner-Occupied65%
Rented35%

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Notice: Market Insights are generated by analyzing real-time data and should be used for informational purposes only. Consult with a licensed professional for exact valuations.

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.