Property Type: Detached HouseOwnership: Freehold

7 Island #7

See Remarks, BC V0R2G0

$1,285,000

3 bed1 bath1,585 sqftBuilt 2006
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Property Details

Property & Lot

Sub-type
House
Lot size
2.25 acres
Zoning
Residential

LR-1

Ownership & Fees

Property type
Detached House
Ownership
Freehold
Annual property tax
$3,676.88

Interior

Heating
Wood
Cooling / A/C
None
Fireplace
Yes (1)

Exterior & Lot

View
Lake view, Mountain view
Waterfront
Waterfront on lake

Parking

Features
Other

Room Dimensions

RoomLevelDimensions
OtherOther7'1 x 6'11
BedroomAuxiliary Building11'7 x 12'5
WorkshopLower level17'2 x 11'9
EntranceMain level4'11 x 7'5
KitchenMain level12'1 x 11'4
Dining roomMain level6'4 x 17'1
Living roomMain level11'5 x 17'2
BedroomMain level11'7 x 11'1
BathroomMain level10'3 x 6'2
BedroomMain level11'9 x 17'2

Listing Information

MLS®
1027897
Listed
March 5, 2026
Time on market
On the market for 179 days
Data last synced
August 28, 2026

Listing provided by: Colliers · Data source: CREA DDF.

Description

Island 7' is one of only a few private islands situated on Lake Cowichan on Vancouver Island. Unlike its name, this is anything but ordinary! With2.25 useable acres, Island 7 is easily accessible and offers an incredible recreational or full-time residence. Improved with a west coast style home and a completely rebuilt dock system, the current owners have ensured the off-grid systems are highly functional and simple to manage, providing all necessities of any modern home. With accommodation for up to 10,the home's vaulted ceilings, high windows and large great room provide incredible views of the Lake, while the balance of the island is well treed and surrounded by low bank walk-on waterfront. Additional features include a separate genny shed, engineered septic, lower-level workshop, and expansive decks. Situated on the ''quiet'' end of the Lake, Island 7 will easily become a family legacy to create memories that last a lifetime. The owners have recently rebuilt the entire dock and anchor system as well as the dock breakwater. This is a turnkey and self sufficient recreational or full time residence on one of Vancouver Island's most beautiful lakes. (id:63159)

Values & Trends

This listing

$811/sqft

Building average

No other active listings in this building

Small Islands (Duncan Area) average

No comparable active listings

Parking: Not indicatedStorage 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: Campbell River

Shallow Fog

14°C

Shallow Fog

Humidity 100%

Wind NW 4 km/h

Tonight

13°

Tuesday

20°

Tuesday night

16°

Wednesday

16°

Wednesday night

11°

Thursday

17°

Source: Environment and Climate Change Canada.

Nearby Schools

SchoolTypeDistance
Lake Cowichan ElementaryElementary21.3 km
Lake Cowichan SecondaryElementary21.3 km
Palsson ElementaryElementary21.4 km

Schools shown by distance from this property. This does not indicate school catchment or enrollment eligibility — contact the school district to confirm catchment boundaries.

Nearby Transit

No TransLink stops within an ~10-minute walk.

School district: Cowichan (SD79)

Similar Listings Nearby

No similar listings found nearby right now.

Mortgage & Ownership Cost Calculator

Minimum required: 8.1% ($103,500) — 5% under $500K, 10% up to $1.5M, 20% at/above $1.5M.

Financial Ledger

Net mortgage (loan + CMHC insurance)$1,028,000.00
Periodic payment — Principal & Interest (monthly)$6,632.31
Additional monthly expenses (strata, tax, utilities, etc.)$385.41
Total monthly cost$7,017.71
Interest paid over 5-yr term$294,627.75
Balance at end of term$924,689.32

Rates based on Bank of Canada benchmark data.

Financial Summary

Minimum down payment$103,500
Stress test qualifying rate8.09%
Payment you must qualify for$9,085.32

Cash Needed at Closing

Minimum down payment$103,500
Estimated BC PTT$23,700
Legal / closing costs (typical estimate)$1,500
Total cash needed$128,700

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. Verify all figures with a mortgage broker and lawyer before relying on them.

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