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Property Type: OtherOwnership: Leasehold
490 SPRUCE STREET
Centre Wellington, ON N1M2W5
MLS® X13229896
$387,500
3 bed1 bath2 parking
Property Details
Property & Lot
- Sub-type
- Modular
- Style
- Bungalow
- Stories
- 1
- Lot size
- 45 x 75 FT
- Frontage
- 45 feet
Ownership & Fees
- Property type
- Other
- Ownership
- Leasehold
- Annual property tax
- $381.47
Interior
- Basement
- None
- Heating
- Forced air, Propane
Room Dimensions
| Room | Level | Dimensions |
|---|---|---|
| Foyer | Other | — |
| Living room | Other | — |
| Dining room | Other | — |
| Kitchen | Other | — |
| Bathroom | Other | — |
| Primary Bedroom | Other | — |
| Bedroom 2 | Other | — |
| Bedroom 3 | Other | — |
| Den | Other | — |
Description
Welcome to 490 Spruce Street in the highly sought-after year-round section of Maple Leaf Acres, one of Ontario's premier four-season recreational communities on beautiful Lake Belwood. This well-maintained 3-bedroom, 1-bathroom home offers affordable year-round living with exceptionally low carrying costs, including lot fees of just $371.21/month (2026) and property taxes of only $381.47 for the entire year (2025). The open-concept living, dining and kitchen area creates a bright, connected space that's ideal for entertaining or keeping an eye on children and grandchildren. The unique layout includes a side entrance leading directly to the den/flex space, making it ideal for a home office, hobby room, guest area, or multi-generational living arrangement. Designed for easy ownership, the home features durable metal siding and a lifetime metal roof, propane furnace, on-demand hot water system, reverse osmosis water filtration system, concrete driveway, and additional outdoor storage beneath the home as well as a large garden shed. The property is currently vacant, allowing for immediate possession and flexible showings. Life at Maple Leaf Acres feels like a permanent vacation. Residents enjoy access to an indoor saltwater pool and hot tub, outdoor swimming pool, recreation hall, seasonal restaurant, dog park, playgrounds, sports fields, walking trails, and community activities. Outdoor enthusiasts will appreciate direct access to Lake Belwood, including a private boat launch for fishing, boating, and endless summer enjoyment. Located just 10 km east of Fergus, the community offers convenient access to Guelph, Kitchener-Waterloo, Hamilton and the GTA while maintaining a peaceful resort-style atmosphere. With low monthly fees and remarkably low annual taxes, this move-in-ready home offers an affordable opportunity to enjoy year-round living in one of Ontario's most desirable recreational communities. **Please note, some photos have been virtually staged** (id:63159)
Listing Information
- MLS®
- X13229896
- Data last synced
- October 11, 2026
REAL BROKER ONTARIO LTD.
Data source: CREA DDF.
CREA DDF® ListingListing Brokerage: REAL BROKER ONTARIO LTD.
MLS® Number: X13229896
Listing data is sourced from CREA DDF®, the Canadian Real Estate Association (CREA) Data Distribution Facility. Listing information is deemed reliable but is not guaranteed accurate by CREA or the listing brokerage. Data provided courtesy of Toronto Regional Real Estate Board.
Values & Trends
This listing
—
Building average
—
No other active listings in this building
Rural Centre Wellington East average
$21,667/sqft
2 active listing(s)
Parking: 2 stall(s) includedStorage locker: Not indicated
Per-stall/locker dollar values aren't itemized in our data source — shown as included/not indicated only, not a fabricated estimate. $/sqft averages are computed live from other active listings, not a third-party model.
Location Insights
Weather
Nearest station: Guelph
5°C
—
Humidity 95%
Wind NNE calm km/h
Tonight
6°
Thursday
19°
Thursday night
6°
Friday
12°
Friday night
-2°
Saturday
14°
Source: Environment and Climate Change Canada.
Population
31,093
(2021 Census)
+10.3% since 2016
Density: 75.9/km²
Similar Listings Nearby
No similar listings found nearby right now.
Mortgage & Ownership Cost Calculator
Minimum required: 5.0% ($19,375) — 5% under $500K, 10% up to $1.5M, 20% at/above $1.5M.
Financial Ledger
Net mortgage (loan + CMHC insurance)$310,000.00
Periodic payment — Principal & Interest (monthly)$2,000.01
Additional monthly expenses (condo fees, tax, utilities, etc.)$31.79
Total monthly cost$2,031.80
Interest paid over 5-yr term$88,846.89
Balance at end of term$278,846.00
Rates based on Bank of Canada benchmark data.
Financial Summary
Minimum down payment$19,375
Stress test qualifying rate8.19%
Payment you must qualify for$2,854.35
Cash Needed at Closing
Minimum down payment$19,375
Estimated Land Transfer Tax (LTT)$4,288
Legal / closing costs (typical estimate)$1,500
Total cash needed$25,163
Minimum down payment: 5% on the first $500,000, 10% on the portion up to $1.5M, 20% at/above $1.5M. Stress test: OSFI's minimum qualifying rate, the greater of contract rate + 2% or 5.25% — this is what lenders require you to qualify at, not what you'll actually pay. Closing costs are a typical-range estimate, not a quote — actual legal fees vary. Land Transfer Tax is the Ontario provincial schedule, before any first-time buyer refund; only the City of Toronto charges a municipal land transfer tax on top, so none applies in the areas this site covers (Ontario Ministry of Finance, ontario.ca/document/land-transfer-tax, as of October 28, 2026). Verify all figures with a mortgage broker and lawyer before relying on them.