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Property Type: Detached HouseOwnership: Freehold
1 CUTTING Drive
Elora, ON N0B1S0
MLS® 40858961
50
Walk Score
30
Bike
$799,900
4 bed3 bath4 parking2,093 sqftBuilt 1998
50
Walk Score
30
Bike
Property Details
Property & Lot
- Sub-type
- House
- Style
- Raised bungalow
- Stories
- 1
- Frontage
- 75 feet
R1B
Ownership & Fees
- Property type
- Detached House
- Ownership
- Freehold
- Annual property tax
- $4,797
Interior
- Basement
- Finished, Full
- Heating
- Forced air, Natural gas
- Cooling / A/C
- Central air conditioning
Room Dimensions
| Room | Level | Dimensions |
|---|---|---|
| Laundry room | Basement | 9'11'' x 18'2'' |
| Recreation room | Basement | 9'7'' x 18'1'' |
| Bedroom | Basement | 9'3'' x 11'7'' |
| Bedroom | Main level | 10'3'' x 12'8'' |
| Bedroom | Main level | 9'10'' x 9'7'' |
| 3pc Bathroom | Main level | — |
| Dining room | Main level | 8'4'' x 7'4'' |
| 4pc Bathroom | Main level | — |
| 3pc Bathroom | Basement | — |
| Primary Bedroom | Main level | 10'9'' x 14'5'' |
| Kitchen | Main level | 9'7'' x 15'3'' |
| Living room | Main level | 19'6'' x 14'4'' |
Description
Well maintained 3+1 Bedroom , 3 Bath, Raised Bungalow with an oversized lot and a professionally finished lower level with bedroom, rec room and 3pc bath. Perfect for In-law setup, Nicely landscaped fenced rear yard. cathedral main floor ceilings, primary bedroom ensuite and more. Close to Parks, Schools, Grocery and Entertainment (id:63161)
Listing Information
- MLS®
- 40858961
- Data last synced
- October 29, 2026
Peak Realty Ltd.
Data source: CREA DDF.
CREA DDF® ListingListing Brokerage: Peak Realty Ltd.
MLS® Number: 40858961
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 Cornerstone Association of REALTORS®.
Values & Trends
This listing
$382/sqft
Building average
—
No other active listings in this building
54 - Elora/Salem average
$421/sqft
8 active listing(s)
Parking: 4 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.
Nearby Places
Parks (5+)
Similar Listings Nearby
Similar active properties nearby based on property type, price, and size.
3.6 km away
Mortgage & Ownership Cost Calculator
Minimum required: 6.9% ($54,990) — 5% under $500K, 10% up to $1.5M, 20% at/above $1.5M.
Financial Ledger
Net mortgage (loan + CMHC insurance)$639,920.00
Periodic payment — Principal & Interest (monthly)$4,128.55
Additional monthly expenses (condo fees, tax, utilities, etc.)$504.75
Total monthly cost$4,633.30
Interest paid over 5-yr term$183,402.91
Balance at end of term$575,610.11
Rates based on Bank of Canada benchmark data.
Financial Summary
Minimum down payment$54,990
Stress test qualifying rate8.19%
Payment you must qualify for$5,775.84
Cash Needed at Closing
Minimum down payment$54,990
Estimated Land Transfer Tax (LTT)$12,473
Legal / closing costs (typical estimate)$1,500
Total cash needed$68,963
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.
