Spectacular Waterfront Property on Tea Lake - Privacy, Beautiful Views & Endless Possibilities! Welcome to your private waterfront retreat on beautiful Tea Lake in Severn Township! This charming 2-bedroom plus seasonal bedroom, 1-bath bungalow-style cottage offers an incredible opportunity to enjoy cottage living surrounded by nature. Boasting an impressive 238 feet of deep, clean waterfront, the 1+ acre property features a recently renovated steel-frame dock extending along the shoreline, perfect for swimming, boating, fishing, or simply relaxing while enjoying spectacular lake views. With Crown land bordering two sides, you'll enjoy exceptional privacy in a peaceful natural setting. Enjoy the existing cottage or explore the possibility of building your dream home on this spectacular property. Future development is subject to municipal and regulatory approvals. Although primarily seasonal, the heated waterline and cozy propane fireplace offer the opportunity to extend your enjoyment into the winter months. Imagine relaxing by the fire after a day of snowmobiling, with the snowmobile trail conveniently located at the rear of the property! Close to the famous Big Chute Marine Railway, this property is ideally situated for outdoor enthusiasts, offering excellent boating, fishing, snowmobiling, and exploring nearby waterways. Whether you're seeking a family cottage, a peaceful waterfront escape, or the perfect setting for your dream home, this Tea Lake gem offers an exceptional combination of privacy, natural beauty, and possibilities. Enjoy it today, dream about tomorrow!
2 bedrooms, 1 bathroom, about 700 sq ft, works out to roughly $1,236 per square foot. Chat with Zara if you'd like a deeper read on whether this detached fits your budget and timing.
Inside 3872 Elva Lane
Every detail from the listing, in one place.
Type
Detached
Style
Bungalow
Living space
700-1100 sq ftas stated on the listing
Parking
5 spaces
Basement
None
Features & systems
Parking & garage
Parking spaces
5
Interior
Basement
None
Lot & land
Lot size (sqft)
0
Listing & possession
Property style
Bungalow
Property class
Detached
3872 Elva Lane Price & Sale History
Earlier listings of this property, list-price changes, and the most recent annual property tax on the listing.
For saleListedThis listingMLS® S14101020$865,000
Sourced from MLS®. Includes earlier listings of this property on record.
What's it worth?
How 3872 Elva Lane Compares to the Severn Market
Zara compares it with recent sales of similar homes nearby. It's a guide, not an appraisal.
Independent mortgage broker · OAC · rates subject to change and underwritingMortgage Squad →
Referral disclosure: Summitly may refer you to Mortgage Squad Advisors, an affiliated mortgage partner. You are free to choose any lender or mortgage professional.
Monthly cost
Enter a rate to see the monthly cost
An estimate, not a quote. Utilities and insurance are extra.
Affordability calculator
Estimated monthly payment
$4,249
/mo
based on the purchase price of $865,000
$173,000 cash
$692,000 financed
$582,846 total interest
Principal54%$692,000
Interest46%$582,846
20% down · 25-yr amortization · 5.50% rate. Principal & interest only — taxes, condo fees, and insurance not included.
Want rate-drop alerts and a saved shortlist?
Figures are Summitly estimates for illustration only — not from TRREB or the MLS® feed, and not a mortgage approval, appraisal, or financial advice.
Rental income potential
Est. monthly rent
low–high
Gross yield
rent × 12 ÷ price
Cap rate (est.)
net of tax + fees
Summitly AI estimate for discussion only — not from TRREB or the MLS® feed, and not an appraisal or investment advice. Yield and cap rate are derived from the estimated rent versus the asking price.
For homeowners nearby
Own a home on Elva Lane? See what yours is worth
Get an instant estimate for your own home, based on recent sales around you. A free account shows the number and emails you the full report.
Free · No obligation · Backed by Coldwell Banker
Book a tour of 3872 Elva Lane with a licensed buyer's agent
Your agent is usually paid from the seller's side. We'll confirm the co-operating commission on this listing before you sign anything.
Zara, any time
Zara · AI virtual agent
Ask about 3872 Elva Lane day or night. Zara reads this listing and answers in plain words. When you want a person, she hands you to a licensed agent.
A licensed local agent
Your agent shows you the home, checks the paperwork and negotiates your offer, on your side, not the seller's.
Mortgage financing is arranged through Mortgage Squad Advisors. Summitly is the technology platform that powers this site. Estimated values, AI insights, calculator results, and rental projections shown on this page are generated by Summitly and are not provided by, reviewed by, or sourced from TRREB, the MLS®, or the listing brokerage; they are not appraisals or opinions of value. The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by the Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The Coldwell Banker® name and logo are trademarks of Coldwell Banker Real Estate LLC.
Similar homes for sale nearby in Severn
Other 2–3 bed homes for sale in Severn around $865K.
Average days on market42Homes sold in about 42 days on average.
Sale-to-list ratio93.5%On average, homes sold below asking.
Active listings239Homes for sale here right now.
Median vs prior 90 days+1.4%Compared with Apr 24 – Jul 23, 2026: prices up.
Based on 111 sales from Jul 23 – Oct 21, 2026 (63 in the prior 90 days). Aggregate MLS® figures for closed sales; individual sold prices are shown only to signed-in members.
Questions About 3872 Elva Lane
How much is 3872 Elva Lane listed for?
3872 Elva Lane is listed at $865,000 (MLS® S14101020). Summitly updates the price as soon as the MLS® record changes.
Is $865,000 a good price for 3872 Elva Lane?
Summitly rates it Well Above Market: the asking price is 15% or more above Zara's estimate, an estimate built from recent sales in Severn. The rating is an automated opinion, not an appraisal; "What's it worth?" on this page shows how it is worked out. See Zara's estimate
Has the price of 3872 Elva Lane changed?
No — 3872 Elva Lane is still listed at its original asking price of $865,000.
How many bedrooms and bathrooms does 3872 Elva Lane have?
3872 Elva Lane has 2 bedrooms and 1 bathroom, with about 700–1,100 square feet of living space. It is a detached home in Severn.
How much would the monthly mortgage be on 3872 Elva Lane?
About $4,249 a month — principal and interest on $865,000 with 20% down ($173,000), a 25-year amortization and an assumed 5.5% interest rate. The mortgage calculator on this page lets you change the down payment, amortization and rate.
How does 3872 Elva Lane compare with other homes in Severn?
Its asking price of $865,000 is about 18% above the median sold price in Severn over the last 90 days, $735,000, across 111 closed sales on the TRREB MLS®. A city median mixes every type and size of home, so the comparable sales on this page are the closer guide.
Has 3872 Elva Lane been sold before?
Summitly has no earlier MLS® sale or lease of 3872 Elva Lane on record from the last two years. Older records aren't shown under TRREB rules.
Where is 3872 Elva Lane?
3872 Elva Lane is in Severn, ON. Schools, transit, parks and shops nearby are under Location & lifestyle on this page.
How long has 3872 Elva Lane been on the market?
3872 Elva Lane was listed today (October 21, 2026).
What is the price per square foot of 3872 Elva Lane?
About $786 to $1,236 per square foot: the asking price of $865,000 over the 700–1,100 sq ft the listing gives as its size range.
Does 3872 Elva Lane have parking or a garage?
Yes — the listing gives 5 parking spaces.
Does 3872 Elva Lane have a basement, and is it finished?
