This $19 million home in Oakville is one of the last-remaining lakefront estates
When it comes to waterfront properties, not all are created equal.
And listed for $18,888,888, 3 Ennisclare Drive E is a cut above the rest.
According to the listing, it is “one of the last remaining developable riparian lakefront estates” in Oakville, which, for the uninitiated, is a pretty big deal.
Riparian rights only come with the house if the property includes the water shoreline.
“This means that you will have the right to access the water, the right to the undisturbed natural flow of the water, and the right to withdraw water for your own use. You can legally enforce these rights against any other persons or government entities,” explains Jason Lane in a blog post about buying waterfront homes.
And not only do you get 184 feet of lake frontage and boat access with this Oakville property, but the home also boasts a whopping 3.63 acres of land.
The land is stunning. The views of Lake Ontario that capture everything from downtown Toronto to the Niagara Escarpment are breathtaking.
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However, the house itself is quite modest, given the price tag of the property.
The home has five bedrooms, each with a view of the lake, plus four bathrooms. 
The rest of the house is…dare we say basic?
It’s modern, with light oak hardwood flooring, big windows, and an all-white kitchen.
It’s not ugly, but it is definitely giving Pottery Barn catalogue vibes.
But the good news is even if you hate the house, the property has an RL1-0 zoning, and the land can accommodate a 10,000-square-foot new build.
So you can build the house of your dreams. You know, after you’ve already spent almost $19 million on the current house and land.
Now don’t get us wrong, this is a great investment opportunity as waterfront properties have incredible resale value, but $19 million might be just a bit inflated when it comes to the actual value of the property.
See, this house has been on the market a few times in the last four years.
It was originally listed in 2019 for $9 million, and then the price dropped to $8.8 million.
The home was then renovated – including the addition of a rare concrete docking pier and a new seawall – and re-listed in June 2020 for $12 million but failed to sell after two months on the market.
Currently, HouseSigma, which uses artificial intelligence technology to estimate home value, values the property at $16,337,556.
So yes, this is an outstanding investment opportunity in a prime location with some amazing views, but they may need to drop the price if they ever want this house to actually sell.