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New4 days ago

244 Edinburgh Street

North N, London North

$459,999

Detached|Bungalow
2 | 2 | 4
About this home

INVESTORS, RUN THE NUMBERS ON THIS ONE. Offered at $459,999, 244 Edinburgh has 5 bedrooms with potential rents of approximately $750 per room, putting potential gross rental income at $3,750 per month or $45,000 per year.For an investor looking for a student rental, the combination of price, bedroom count and location makes this one worth a serious look. With Western students as a natural tenant pool and convenient access to transit and everyday amenities, the property is well positioned for the student rental market.It's also an interesting option for parents with a child attending Western. Instead of paying rent for the next several years, consider owning the property, giving your student a place to live and renting the remaining bedrooms to help offset the carrying costs.At the asking price, the projected $45,000 in annual gross rent represents approximately a 9.8% gross yield before expenses.Five bedrooms. $3,750 in potential monthly rent. $459,999 asking price.If you've been looking for a London investment property where the numbers actually give you something to work with, 244 Edinburgh is it.

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Contact BrokerHub Inc..

BrokerHub Inc.
(647) 254-1864
TypeDetached
StyleBungalow
Approx. Age51-99
Size700-1100 sq. ft.
Property Tax$3,229
Lot Size33 ft x 127.02 ft
mls© NumberX13723076
Listed ByCENTURY 21 FIRST CANADIAN CORP

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%
$2,354
Property tax
$269
Heat allowance
$150
Housing costs
$2,774 / mo

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

Down payment20% · $92,000
25-yr amortization

Income needed

$85,000

gross annual household income

Payment at 4%
$1,936 / mo
Cash down
$92,000

Assumes no other monthly debts · 25-yr amortization

Full affordability check

Investment Analysis

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

Values and trends

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