$299,000

For sale

#505 626 First Street, London East (East H) - Single Family for Sale

#505 626 First Street, London East (East H), Ontario, N5V2A2

4 beds2 baths1 parking850 ft²$536/mo condo feeListed 99 days ago

Overview

This 4-bedroom, 2-bathroom condo in London East is for sale offering roughly 850 sq ft of space. Its $299,000 asking price sits right in line with the $299,000 median in London East.

Condos for Sale in London East →All real estate in London East →

Description

This versatile property can be your new home or a turn-key investment opportunity! This top-floor condo is conveniently located right across from Fanshawe College, and currently accommodates 4 single student rental rooms, kitchen and 2 full baths. Current monthly RENTAL INCOME is over $3000! This property can also be easily reversed back to a SINGLE FAMILY unit at any time. BONUS: All bedroom FURNISHINGS are included - smart tv's, beds, desks, bookshelves and more! The solid brick building is equipped with an elevator and security cameras throughout. A helpful and friendly on-site building manager, 1 assigned parking spot, and water are also included in maintenance fees. Other amenities include restaurants, stores, parks, and transportation. (id:66096)

Property Details

MLS®: X13619660
Property Type: Single Family
Bedrooms: 4
Beds (above / below): 4 above · 0 below
Bathrooms: 2
Parking: 1
Interior Size: 850 ft²
Basement: None
Heating: Baseboard heaters, Electric
Cooling: None
Garage: No Garage
Condo Fee: $536/mo
Fee Includes: Common Area Maintenance, Water, Parking
Ownership: Condo/Strata
Property Tax: $2,213/yr
Listed: 99 days ago

Features

Appliances: Refrigerator, Stove
Exterior: Brick
Lot Features: Balcony, Carpet Free, In suite Laundry

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

99d

London East (East H) listings, avg age

67d

Price / ft²

$352

List price

$299K

Haho

This 4-bed single family in London East (East H) is available now. Want me to connect you with the agent or keep you posted on any price updates?

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Listed by SUTTON GROUP - SELECT REALTY · MIRELLA SHREVE

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (N5V)

This home lists at $299,000, about 4.0× the local median household income of $74,500.

Carrying it typically needs a household income of about $58,405 (20% down, 25-yr amortization, stress-tested) — within reach of the area median.

Median household income: $74,500
Population: 32,961
Median age: 36.4
Owner / renter: 62% / 38%
Avg. household size: 2.6

Source: Statistics Canada, 2021 Census (FSA N5V)

$299,000· $352/ft²

For sale

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Full Cost Breakdown

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Down Payment5% · $14,950

Min 5%50%

Mortgage payment$1,575/mo

↳ CMHC premium ($11,362 capitalized)

Property tax (est.)$184/mo

Condo fee$536/mo

Total monthly$2,295

Cash Needed to Close

Down payment (5%)$14,950

Land transfer tax$2,960

Est. closing costs$3,397

Total cash needed$21,307

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