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North N, London North
$599,900
Welcome to 340 Riverside Drive, this well-maintained home offers an excellent opportunity for investors, owner-occupants or large families looking for a property with solid rental income and significant recent upgrades. Unit A is a large 3 bedroom, 2 storey apartment with a large kitchen/dining room area, 2 living rooms, a private back deck, lots of extra space throughout. Unit B is a 1 bedroom with lots of space. The basement is completely separate and fully renovated too. Over the past five years, the property has undergone extensive improvements, including new vinyl flooring throughout, updated paint and trim, a high-efficiency furnace installed in 2026, a newer water heater, updated toilets, and numerous interior renovations. While the exterior has been enhanced with fresh paint, new landscaping, and a privacy fence. The property currently generates **$3,600 per month in gross rental income**, with the one-bedroom unit renting for **$1,400/month** (all-inclusive) and the three-bedroom unit renting for **$2,200/month** (all-inclusive). This home is in a great area, close to downtown, all shopping, anything you can think of.
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| Type | Detached |
| Style | 1 1/2 Storey |
| Approx. Age | Not available |
| Size | 1500-2000 sq. ft. |
| Property Tax | $6,186 |
| Lot Size | 121.39 ft x 99.88 ft |
| mls© Number | X13639732 |
| Listed By | THE REALTY FIRM 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
- $516
- Heat allowance
- $150
- Housing costs
- $3,736 / mo
Lenders cap these at 39% of gross income — that sets the number.
Income needed
$115,000
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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