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North N, London North
$459,999
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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| Type | Detached |
| Style | Bungalow |
| Approx. Age | 51-99 |
| Size | 700-1100 sq. ft. |
| Property Tax | $3,229 |
| Lot Size | 33 ft x 127.02 ft |
| mls© Number | X13723076 |
| Listed By | CENTURY 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.
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 checkInvestment Analysis
Estimated rent, cap rate and monthly cash flow for this property
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