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East H, London East
$519,900
Ideal for investors, students, or families, welcome to 361 Spruce Street, a beautifully updated 1 1/2 storey home set on a generous corner lot in a quiet East London neighbourhood close to Kiwanis Park, Fanshawe College, shopping, & everyday amenities.This home has been thoughtfully improved with comfort & long-term value in mind, offering the flexibility to rent out rooms or move your family in & enjoy, with the potential to offset your monthly costs through rental income. The main floor features a bright, open living space with hardwood flooring & an expanded layout completed in 2022. The kitchen was remodelled in 2023 with modern cabinetry, updated lighting, & tile flooring.Two well-sized bedrooms are located on the main floor, along with a refreshed bathroom featuring clean finishes & a rainfall shower. Upstairs, the primary bedroom offers a private & versatile retreat with generous space & storage.The lower level adds valuable flexibility with a newly finished recreation room completed in 2025 featuring modern flooring & pot lighting.This space could function as a fourth bedroom, home gym, media room, or second living area. Also includes a large laundry room with shelving & storage, a 2-piece bathroom, & an additional storage or workshop area. Outside, the fully fenced backyard was completed in 2022 with a modern fence & offers excellent space for entertaining, fruit trees, multiple deck areas, trailer access through a double gate, & a powered 10x10 shed. The detached garage was insulated & soundproofed in 2022 & includes electrical service & a Wi-Fi smart garage door opener with battery backup.Major updates include furnace (2023), central air (2021), tankless water heater (2022), three front windows (2022), roof shingles approx. 2015, & updated electrical & lighting (2021). Located minutes to Fanshawe College, this home also offers strong potential for student rental or multi-room income.A move-in ready property where the important updates are already complete
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| Type | Detached |
| Style | 1 1/2 Storey |
| Approx. Age | 51-99 |
| Size | 700-1100 sq. ft. |
| Property Tax | $2,467 |
| Lot Size | 40.46 ft x 156.75 ft |
| mls© Number | X13056956 |
| Listed By | PRIME REAL ESTATE BROKERAGE |
Listing History
- No recent sale history for this listing.
- No recent lease history for this listing.
Could you afford this home?
What the bank counts
This home's actual carrying costs, payment stress-tested at 6%
- Mortgage, tested at 6%
- $2,661
- Property tax
- $206
- Heat allowance
- $150
- Housing costs
- $3,017 / mo
Lenders cap these at 39% of gross income — that sets the number.
Income needed
$93,000
gross annual household income
- Payment at 4%
- $2,188 / mo
- Cash down
- $103,980
Assumes no other monthly debts · 25-yr amortization
Full affordability checkInvestment Analysis
Estimated rent, cap rate and monthly cash flow for this property
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