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Reduced $30,000 (5%) from $625,000
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Katepwa Beach · Single Family · under $650,000 · 5+ bed · 1+ bath. Alerts only send when there are new or meaningfully updated matching homes.
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215-216 Osment AVENUE
Rare opportunity to secure 109' of waterfront on beautiful Katepwa Lake, featuring TWO seasonal cottages, boathouse & double garage — all offered together for $625,000. Located in the quiet subdivision of Osment Place these adjoining properties offer exceptional privacy, mature natural landscape, and flexible use options. Due to shared amenities & close proximity, it will be sold as a package — ideal for a multi-family retreat or for enjoying one cottage while generating rental income from the other. 215 Osment Place features a 788 sq. ft. cottage built in '65 with an '87 addition. It showcases vaulted, beamed ceilings & a wood-burning fireplace. It boasts 3 bdrms, 1 bath, electric heat, & screen porch for. Enjoy rooftop & lower decks overlooking the lake, & a direct-entry boathouse. The property has a septic tank with lift station & well. Being sold semi-furnished including storage room contents & BBQ (taxidermy, bedding, canoe, contents & boat cradle in boathouse not included) 216 Osment Place features an 800 sq. ft. cottage built in 1967 that has been thoughtfully renovated throughout. The interior is finished with tongue & groove pine, white shiplap ceilings, & vinyl plank flooring, creating a bright and modern aesthetic. It offers 3 bdrms & 1 updated bath with a glass-tiled walk-in shower. The kitchen is equipped with updated cabinetry, backsplash & sink, while expansive front windows provide stunning lake views. Additional comforts include electric heat & a wall-mounted A/C. Outside, a wrap-around deck with aluminum railings & firepit area, enhance the lakefront experience. Recently built stairs with aluminum railings leads up to the 24' x 24' garage (approx $60,000 investment) This property will need to have a new water supply and septic pump out line will need to be moved. More details available upon request. Being sold partially furnished with BBQ, excluding the primary bdrm set, all bedding, & garage contents. Aluminum dock & boat lift negotiable. (id:65958)
Main level
| Room | Dimensions | Features |
|---|---|---|
| Enclosed porch | 5 × 15 feet | |
| Living room | 11.4 × 12.8 feet | |
| Kitchen/Dining room | 20 × 8.6 feet | |
| Bedroom | 8 × 8.3 feet | |
| Bedroom | 8 × 8 feet | |
| Bedroom | 8.6 × 7.7 feet | |
| Other | — | |
| 4pc Bathroom | 5 × 8 feet | |
| Kitchen/Dining room | 18.3 feet | |
| Living room | 12.3 × 18 feet | |
| Bedroom | 9 × 13.4 feet | |
| Bedroom | 12.2 × 9.2 feet | |
| Bedroom | 10.3 × 8.9 feet | |
| 3pc Bathroom | 5.3 × 7.6 feet |
10-item due-diligence checklist. We can pre-flight most of these for you on a CMA call.
Comparable sales
Ask for 3–5 recent solds within ~1 km and the same beds/baths so the list price has context.
Property condition
Roof age, furnace age, hot-water tank age, electrical panel size, windows. Cosmetic vs structural.
Zoning
Confirm zoning matches your intent (single-family vs duplex vs secondary suite vs commercial).
Suite legality / potential
If suited or being marketed as suited: confirm permits, separate entrance, ceiling height, egress windows.
Monthly carrying cost
Mortgage + property tax + insurance + condo fee (if any) + utilities. Compare to your max budget.
Property taxes
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Insurance estimate
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Commute
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Deposit and financing conditions
Deposit size, financing condition window, condition removal date, possession date — all negotiable.
Inspection considerations
Budget for a home inspector ($500–700) and any specialty inspections (sewer scope, mould, asbestos for pre-1990 builds).
Cash on cash
-3.76%
Cap rate
4.11%
GRM
15.0
Break-even rent
$3,693
Financing
Operating expenses (monthly)
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Approximation only. Actual cash flow depends on financing terms, condition reports, current market rents, property tax assessment, condo fees, and tenant quality. Defaults: 4.5% rate, 30-year amortization, 5% vacancy, 1%/yr maintenance, 0.5%/yr CapEx reserve, $80/mo insurance. Property tax estimated at 0.55%/yr where not provided. Talk to a mortgage broker before relying on these numbers.
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Monthly carrying costs (shared)
Approximation only. CMHC default insurance is included when down payment is under 20%. Property tax and condo fees come from MLS when listed and may not reflect the current billing year. Accelerated bi-weekly frequency reduces total interest paid vs. monthly — confirm with a broker. Suite rental income depends on permits, market rent, and vacancy. Always validate with a mortgage broker before writing an offer.
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Listing brokerage
Listing brokerage on file
Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Jul 2, 2026.
Buyer-fit signals
Derived from listing data and nearby-amenity proximity. Verify anything that matters to your decision — distances are approximate.
Location of this listing. Distances are straight-line.
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