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New16 hours ago

238 Fleming Drive

East D, London East

$542,900

Detached|Backsplit 4
5 | 2 | 3
About this home

INVESTMENT OPPORTUNITY STEPS FROM FANSHAWE COLLEGE! Licensed Rental Property in one of London's most sought-after rental locations. This spacious 4-level back-split offers 5+1 bedrooms, 2 full bathrooms, a separate side entrance, and a versatile multi-level layout ideal for investors seeking strong rental potential. The main level features a bright open-concept living, dining, and kitchen area. Upstairs offers 3 bedrooms and a 4-piece bathroom, while the lower level features 2 additional bedrooms, a 3-piece bathroom, and private side entrance. The basement provides a 6th bedroom with newer flooring, plus dedicated laundry and storage areas. Freshly painted with numerous updates, the property also features a fully fenced backyard, attached garage, and additional driveway parking. The layout offers excellent potential for two units, subject to buyer verification and applicable approvals. Conveniently located near Fanshawe College, public transit, shopping, restaurants, and everyday amenities. Aggressively priced for today's market-an excellent opportunity to add a licensed rental property to your investment portfolio! Photos were taken prior to the current tenant moving in.

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Contact BrokerHub Inc..

BrokerHub Inc.
(647) 254-1864
TypeDetached
StyleBacksplit 4
Approx. Age16-30
Size1500-2000 sq. ft.
Property Tax$3,889
Lot Size32.82 ft x 117.33 ft
mls© NumberX13729672
Listed ByRE/MAX ICON 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%
$2,779
Property tax
$324
Heat allowance
$150
Housing costs
$3,253 / mo

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

Down payment20% · $108,580
25-yr amortization

Income needed

$100,000

gross annual household income

Payment at 4%
$2,285 / mo
Cash down
$108,580

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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