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Property Type: Detached HouseOwnership: Freehold
57 CUTTING Drive
Elora, ON N0B1S0
MLS® 40871459
28
Walk Score
33
Bike
$1,099,900
4 bed3 bath4 parking3,106 sqftBuilt 2020
28
Walk Score
33
Bike
Property Details
Property & Lot
- Sub-type
- House
- Style
- Bungalow
- Stories
- 1
- Frontage
- 49 feet
R2.58.7
Ownership & Fees
- Property type
- Detached House
- Ownership
- Freehold
- Annual property tax
- $6,466.01
Interior
- Basement
- Finished, Full
- Heating
- Forced air, Natural gas
- Cooling / A/C
- Central air conditioning
Room Dimensions
| Room | Level | Dimensions |
|---|---|---|
| Cold room | Basement | 5'7'' x 17'4'' |
| Utility room | Basement | 9'3'' x 13'1'' |
| 3pc Bathroom | Basement | — |
| Studio | Basement | 8'8'' x 10'2'' |
| Den | Basement | 9'3'' x 13'1'' |
| Bedroom | Basement | 13'2'' x 17'3'' |
| Bedroom | Basement | 13'1'' x 13'7'' |
| Recreation room | Basement | 20'9'' x 24'4'' |
| Foyer | Main level | 5'8'' x 9'1'' |
| Laundry room | Main level | 8'0'' x 8'10'' |
| 4pc Bathroom | Main level | — |
| Bedroom | Main level | 13'0'' x 13'4'' |
| 4pc Ensuite bath | Main level | — |
| Primary Bedroom |
Description
Stunning custom-built luxury bungalow offering 4 bdrms, over 3000sqft of finished living space, bright lookout bsmt W/in-law potential & backyard oasis all nestled in the town of Elora! Thoughtfully designed in collaboration with an interior designer, every finish has been carefully selected to create a home that exudes sophistication & warmth. Step into spectacular backyard where hardscaping, composite privacy fencing & mature trees create a peaceful retreat. Designed W/low-maintenance in mind you can spend less time on upkeep & more time enjoying this outdoor space. Lounge by the 12' x 24' heated saltwater pool surrounded by stone patios W/lots of space for relaxing & entertaining. Elevated deck is perfect for BBQs & cocktails while covered patio below offers charming outdoor bar & lounge area. Inside an open-concept layout is designed for entertaining & everyday comfort. Living room W/fireplace, rustic wood mantel & expansive windows. Custom kitchen W/white cabinetry, quartz counters, premium S/S appliances & centre island W/breakfast bar seating. Adjoining dining area is surrounded by oversized windows & offers access to elevated deck creating effortless indoor-outdoor living. Primary bdrm W/large windows overlooking mature trees, W/I closet & ensuite W/dbl vanity & tiled W/I glass shower. A 2nd bdrm offers ensuite access to the main bathroom making it ideal for guests or home office. Main-floor laundry completes this level. Prof. finished lookout bsmt offers add'l 1485sqft of finished living space. Large windows make the lower level feel open & welcoming. Rec room offers perfect setting for movies, family gatherings or games area W/fireplace. There are 2 bdrms, 3pc bath & 2 add'l flexible spaces ideal for playroom, hobby room, gym or office. W/its large layout & potential for future sep walk up entrance, this level offers exciting possibilities for an in-law suite. Enjoy nearby trails or spend wknds exploring Elora Gorge, shops, cafes & restaurants of downtown (id:63161)
Listing Information
- MLS®
- 40871459
- Data last synced
- October 25, 2026
Re/Max Real Estate Centre Inc.
Data source: CREA DDF.
CREA DDF® ListingListing Brokerage: Re/Max Real Estate Centre Inc.
MLS® Number: 40871459
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
$354/sqft
Building average
—
No other active listings in this building
54 - Elora/Salem average
$425/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.
Mortgage & Ownership Cost Calculator
Minimum required: 7.7% ($84,990) — 5% under $500K, 10% up to $1.5M, 20% at/above $1.5M.
Financial Ledger
Net mortgage (loan + CMHC insurance)$879,920.00
Periodic payment — Principal & Interest (monthly)$5,676.95
Additional monthly expenses (condo fees, tax, utilities, etc.)$693.83
Total monthly cost$6,370.78
Interest paid over 5-yr term$252,187.60
Balance at end of term$791,490.89
Rates based on Bank of Canada benchmark data.
Financial Summary
Minimum down payment$84,990
Stress test qualifying rate8.19%
Payment you must qualify for$7,869.35
Cash Needed at Closing
Minimum down payment$84,990
Estimated Land Transfer Tax (LTT)$18,473
Legal / closing costs (typical estimate)$1,500
Total cash needed$104,963
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.
