The trademarks MLS®, Multiple Listing Service®, and the associated logos are owned by the Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Listing data provided by the Toronto Regional Real Estate Board (TRREB). Data is deemed reliable but not guaranteed.
Set on a generous lot of more than 1-acre, backing onto agricultural land, this well-appointed bungalow offers 2,375 sq. ft. on the main level plus approximately 2,000 sq. ft. in the partially finished basement. Located in Formosa's sought-after Weiss Drive subdivision, the property is surrounded by executive homes and offers a peaceful rural backdrop. Energy-efficient spray foam insulation on the main floor and basement enhances comfort and efficiency. The open-concept kitchen, dining and living area features dark wood cabinetry and quartz countertops. The main floor includes three bedrooms, two bathrooms and convenient laundry. The covered rear deck is designed for year-round enjoyment, with a double-sided gas fireplace shared with the living room, plus outdoor speakers and lighting-ideal for entertaining or relaxing while enjoying the rural views. The partially finished basement features 9-foot ceilings and engineered beams that create a spacious, open-concept recreation room, along with two additional rooms offering potential for bedrooms and a 2-piece bathroom ready for shower installation. A separate entrance from the garage provides convenient basement access. The heated garage includes two 50-amp EV plugs and a camper trailer cleanout. A 36' x 36' foundation is in place for a future workshop or garage, with building plans included. The home is heated by natural gas forced air, with in-floor radiant heat in the basement. A built-in security system with hard drive is included, with no additional monitoring fees. Offering generous living space, quality features and room for future possibilities, this property is an excellent opportunity in a desirable Formosa location.
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Estimated Rental Income
Rental estimate coming soon
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A monthly rent range from nearby leased homes of the same type and size
The leased comparables behind it (signed-in, VOW-gated)
Gross yield at the current list price
Monthly Cost
A quick estimate to plan with. Taxes come from the listing; change the other inputs to match your situation.
Estimated monthly$4,394/mo
Mortgage (principal + interest)$3,834
Property taxFrom listing: $6,718/yr$560
Minimum $77,490 down for this price; the slider moves in whole percent, starting at 8%. Under 20% adds mortgage default insurance. Confirm with a lender.
Mortgage uses Canadian semi-annual compounding. Houses-Gate doesn’t offer financing.
Estimated Budget
About how much cash you’ll need on closing day, besides the mortgage.
Down payment20% of the list price$204,980
Ontario land transfer taxProvincial brackets, no first-time refund$16,973
Legal fees & disbursementsTypical range $1,800–$2,800$1,800
Home inspectionTypical range $500–$800$600
Title insuranceTypical range $300–$600$400
Cash needed at closingEstimate$224,753
First-time buyers can get up to $4,000 back on Ontario land transfer tax. South Bruce has no municipal land transfer tax (Toronto does).
Uses Ontario’s land transfer tax brackets and the down payment set in Monthly Cost. Legal, inspection and title-insurance figures are typical ranges, not quotes.
Listing data is provided under copyright by the Toronto Regional Real Estate Board (TRREB). The data is deemed reliable but is not guaranteed to be accurate. The trademarks MLS®, Multiple Listing Service®, and the associated logos are owned by the Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA.
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