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578B OLD HIGHWAY 2
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Beds
3
Baths
1
Sqft
—
Year
—
Type
Single Family
On market
34d
RARE OPPORTUNITY | Offered in "as is", where-is" condition, with no representations or warranties by the Seller, this exceptional WATERFRONT holding presents a rare and compelling opportunity along the highly sought-after BAY OF QUINTE. Held within the same family for three generations, this is a legacy property now being offered to the market for the next visionary to unlock its full potential. Ideally positioned in a prime, high-exposure location along Highway 2, the offering combines strong arterial visibility with an expansive, elongated lot that stretches from the roadway all the way to the shoreline of the Bay-creating a unique depth of land rarely found in waterfront properties. The existing improvements include a 3 bedroom bungalow (1.471 sq ft) a detached 2 car-garage (720 sq ft), and fully enclosed porch, offering flexibility for interim use, rental income, or future redevelopment. A picturesque, tree-lined driveway framed by mature apple trees leads to the property's defining feature; a PRIVATE HARBOUR of exceptional quality. This sheltered waterfront includes a durable concrete sea wall, private boat ramp, and generous space for docking and lakeside enjoyment. A detached floating two-story structure captures sweeping unobstructed views across the Bay, presenting a truly unique element with significant creative and value-add potential. Surrounded by a mix of commercial uses and residential zoning-including neighbouring commercial properties and R3-26 zoning next door-this property is ideally positioned for those exploring rezoning, redevelopment, or a signature mixed-use or waterfront concept. The scale of the lot, combined with direct water access and prime location, opens the door to a wide range of possibilities. With four-season appeal-from boating and water sports to winter recreation-this is a rare opportunity to secure a generational waterfront asset in a prime location, offering both immediate enjoyment and long-term development potential. (id:65958)
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
Confirm the annual tax amount on the current assessment — and whether a reassessment is pending.
Insurance estimate
Get a same-day quote. Older homes, knob-and-tube wiring, polybutylene plumbing, flood plains all change the number.
Commute
Drive it (or transit it) at the actual time of day you'd commute. Map ETA lies during peak hours.
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
-6.34%
Cap rate
3.60%
GRM
16.7
Break-even rent
$11,001
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.
Rough ballpark only. Pick a down-payment option, then tap any underlined number below to plug in your real numbers — tax, condo fee, insurance, utilities. Total updates live. Confirm with a mortgage broker before writing an offer.
Cost lines (tax, condo, insurance, utilities) are editable inline above. These two control the mortgage payment math.
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. Suite rental income depends on permits, market rent, and vacancy — confirm with a property manager. Always validate your scenario with a mortgage broker and your insurance provider before writing an offer.
We'll reply by text within a few hours. Comparable sales, condition flags, things worth checking — sent before you book a showing.
Listing brokerage
Listing brokerage on file
Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated May 12, 2026.
Nearby school, halal, mosque, grocery, park, and transit layers are still being built for Quinte West (Sidney Ward). The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.
Buyer-fit signals
Derived from listing data and nearby-amenity proximity. Verify anything that matters to your decision — distances are approximate.