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Listed 3 months ago

1519 Howland Avenue

East H, London East

$549,000

Detached|Bungalow
3 | 2 | 10
About this home

Welcome to 1519 Howland Ave, a prime opportunity to aquire for student occupation of the currently vacant three bedroom upper level with steady income of the seperately leased three bedroom lower level! This property is only a couple minutes walk to Fanshawe College. Also a well suited opportunity for investors and multi-generational families! With both units rented this property was garnering over $3800 a month in rental income; with soild cash flow potential averaging over $3000 a month after expenses. The prime set up of this property features two seperate living spaces: totalling six bedrooms; including a main level space and lower level with seperate walkout entrance; each floor featuring three spacious bedrooms, a functional washroom (a four piece washroom upstairs and three piece full bath on the lower level), a kitchen on each level and a shared open living room. The seperate living areas could also be ideal for a multi-generational family looking to have the set up of two seperate living areas. Not to be outdone; the location also features a large functional yard with old growth trees and a covered patio. The neighbourhood offers a balance of families and students. This location also offers an impressive long double wide driveway that could accomodate for up to ten vehicles. This property also offers very close access to major public transit routes (with the future Oxford St LTR only minutes away) and is situated in close walking/driving/transit distance to major shopping centers including the Oxbury Plaza and Argyle Mall; and has many sports and recreation centers in the direct and surrounding areas. Although it sits in close proximity to major transportation routes, the house is sheltered from high activity and offers a quaint environment on a dead end road. This could be a prime candidate for an additonal garden suite unit with a large open backyard and plenty of existing parking in place to accomodate for an additional unit/units.

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Contact BrokerHub Inc..

BrokerHub Inc.
(647) 254-1864
TypeDetached
StyleBungalow
Approx. Age51-99
Size700-1100 sq. ft.
Property Tax$4,157
Lot Size57 ft x 134 ft
mls© NumberX13454130
Listed ByEXP REALTY

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%
$2,810
Property tax
$346
Heat allowance
$150
Housing costs
$3,306 / mo

Lenders cap these at 39% of gross income — that sets the number.

Down payment20% · $109,800
25-yr amortization

Income needed

$102,000

gross annual household income

Payment at 4%
$2,310 / mo
Cash down
$109,800

Assumes no other monthly debts · 25-yr amortization

Full affordability check

Investment Analysis

Estimated rent, cap rate and monthly cash flow for this property

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