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South U, London South
$769,900
**WHY RENT WHEN YOUR TENANT CAN HELP PAY YOUR MORTGAGE?** Welcome To This Beautifully Upgraded Detached Home In London's Highly Desirable Summerside Community, Featuring A **Brand-New Legal Basement Apartment (2025)** With 1 Bedroom, Spacious Recreation Room & 2 Washrooms. A Rare Opportunity For First-Time Buyers, Growing Families, Multi-Generational Households & Investors!Offering **4+1 Bedrooms + 1 Recreation Room, 5 Bathrooms & Over 3,100 Sq. Ft. Of Total Finished Living Space**, This Move-In Ready Home Offers Comfort, Flexibility & Income Potential. **Major 2026 Updates Include A Brand-New Roof & Brand-New Lennox High-Efficiency Furnace!**The Bright Upper Level Features 4 Spacious Bedrooms, 3 Bathrooms, Main Floor Laundry With New Washer & Dryer, New Engineered Hardwood Flooring, Fresh Paint, And A Modern Kitchen With New Quartz Countertops, New Stove & Refrigerator. The Open-Concept Layout Is Perfect For Family Living & Entertaining.The **Legal Basement Apartment** Features 1 Bedroom, Large Recreation Room, 2 Bathrooms, Separate Laundry, Full Kitchen With New Appliances & Private Living Space. Currently Occupied By Excellent Tenants, It Provides Immediate Rental Income And An Excellent Mortgage Helper, While Also Offering Flexible Space For Extended Family.Enjoy A **Double-Car Garage & Parking For 4 Vehicles**, Along With Extensive Recent Upgrades Making This A Low-Maintenance, Turnkey Property.Conveniently Located Minutes From **Hwy 401, Public Transit, Meadowgate Park, Trails, Sports Facilities, Shopping & Schools**, This Family-Friendly Location Offers The Perfect Blend Of Lifestyle & Investment Potential.Whether You're A First-Time Buyer Looking To Reduce Your Monthly Housing Costs, A Family Seeking Flexible Living Space, Or An Investor Looking For Rental Income, This Exceptional Home Checks All The Boxes. **Book Your Private Showing Today!**
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| Type | Detached |
| Style | 2-Storey |
| Approx. Age | 16-30 |
| Size | 2000-2500 sq. ft. |
| Property Tax | $6,219 |
| Lot Size | 36.76 ft x 111.64 ft |
| mls© Number | X13627896 |
| Listed By | EXECUTIVE REAL ESTATE SERVICES LTD. |
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%
- $3,941
- Property tax
- $518
- Heat allowance
- $150
- Housing costs
- $4,609 / mo
Lenders cap these at 39% of gross income — that sets the number.
Income needed
$142,000
gross annual household income
- Payment at 4%
- $3,240 / mo
- Cash down
- $153,980
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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