202 Michaelmas Street
East C, London East
$599,900
Custom designed for investors and first-time home buyers, located within a 5-minute drive from Fanshawe College main campus. This detached, turn-key raised bungalow in Huron Heights features 5 bedrooms, 2 kitchens, an oversized lot, plenty of parking, an oversized garage with plenty of storage, back deck, new furnace (2024), new on-demand water heater (2022), and more. Highly desirable neighborhood with convenient amenities nearby including nearby bus stop, walking distance to shopping and restaurants. Perfect opportunity to generate positive cash flow from this turn key Investment or do house hacking and have someone else pay for your mortgage!
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| Type | Detached |
| Style | Bungalow-Raised |
| Approx. Age | 51-99 |
| Size | 700-1100 sq. ft. |
| Property Tax | $3,453 |
| Lot Size | 60 ft x 131.94 ft |
| mls© Number | X13118206 |
| Listed By | PC275 REALTY INC. |
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%
- $3,071
- Property tax
- $288
- Heat allowance
- $150
- Housing costs
- $3,508 / mo
Lenders cap these at 39% of gross income — that sets the number.
Income needed
$108,000
gross annual household income
- Payment at 4%
- $2,524 / mo
- Cash down
- $119,980
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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