$499,900

For sale

586 Cheapside Street, London East (East B) - Single Family for Sale

586 Cheapside Street, London East (East B), Ontario, N5Y3X8

3 beds2 baths4 parking900 ft²33 × 150 ft (4,995 sq ft) lot sizeListed 45 days ago

Overview

This 3-bedroom, 2-bathroom home in London East is for sale offering roughly 900 sq ft of space. Listed at $499,900, it is attractively priced about 35% below the $775,000 median asking price in London East. It has been on the market 45 days, fresher than the London East average of 49 days.

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Description

Welcome to 586 Cheapside, a charming 1.5-storey home in the highly sought-after Old North neighbourhood. This versatile property welcomes you with a bright 3-season sunroom/mudroom. The main floor features a convenient bedroom and renovated full bathroom, while upstairs offers two additional bedrooms tucked away for privacy. The finished lower level expands your living space with a spacious rec room and a additional 4-piece bathroom. Hobbyists will love the detached 1-car garage, currently set up as a dedicated workshop with electrical sub panel. Outside, step onto the back patio and take in the impressive 150-foot deep lot. offering massive space for gardening, entertaining, or letting pets run free. Located close to schools, parks, and shopping, this turnkey 3-bedroom, 2-bathroom gem blends quiet residential living with excellent city access. Don't miss your chance at this beautiful Old North Gem! (id:66096)

Property Details

MLS®: X13814564
Property Type: Single Family
Bedrooms: 3
Beds (above / below): 3 above · 0 below
Bathrooms: 2
Parking: 4
Interior Size: 900 ft²
Lot Size: 33 × 150 ft (4,995 sq ft)
Frontage: 33 ft
Storeys: 1
Basement: Partially finished, N/A
Heating: Forced air, Natural gas
Cooling: Central air conditioning
Garage: Detached Garage, Garage
Fireplace: Yes
Ownership: Freehold
Property Tax: $4,157/yr

Rooms

Main level

Sunroom: 2.84 x 2.43 meters
Bedroom 2: 2.99 x 3.81 meters
Kitchen: 2.89 x 2.26 meters
Living room: 3.56 x 3.04 meters
Dining room: 3.56 x 2.79 meters

Second level

Primary Bedroom: 2.35 x 2.74 meters
Bedroom 3: 3.42 x 2.33 meters
Recreational, Games room: 5.66 x 3.07 meters

Room details as supplied by the listing brokerage. Dimensions are shown in the unit the listing states, and are approximate.

Features

Appliances: Washer, Refrigerator, Water meter, Range, Oven, Dryer, Water Heater
Foundation: Block
Exterior: Brick, Aluminum siding

Services

Water: Municipal water
Sewer: Sanitary sewer
Utilities: Sewer, Electricity, Cable

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

45d

London East (East B) listings, avg age

49d

Price / ft²

$555

List price

$500K

Haho

This 3-bed single family in London East (East B) has been listed for 45 days, which is 4 days fresher than the city average of 49. Act while there is still low competition.

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Listed by PRIME REAL ESTATE BROKERAGE · JUSTIN KONIKOW

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (N5Y)

This home lists at $499,900, about 7.9× the local median household income of $63,600.

Carrying it typically needs a household income of about $97,648 (20% down, 25-yr amortization, stress-tested) — roughly 54% above the area median.

Median household income: $63,600
Population: 35,934
Median age: 35.6
Owner / renter: 45% / 55%
Avg. household size: 2.3

Source: Statistics Canada, 2021 Census (FSA N5Y)

$499,900· $555/ft²

For sale

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Full Cost Breakdown

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Down Payment5% · $24,995

Min 5%50%

Mortgage payment$2,633/mo

↳ CMHC premium ($18,996 capitalized)

Property tax (est.)$346/mo

Total monthly$2,979

Cash Needed to Close

Down payment (5%)$24,995

Land transfer tax$6,473

Est. closing costs$4,000

Total cash needed$35,468

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