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East B, London East
$599,900
Currently rented for $4,250/month through April 30, 2027! This well-located student rental at 220 Bernard Ave offers investors an opportunity to purchase an income-producing property near Western University with a tenant already in place.This solid brick 1.5-storey home features 5 bedrooms plus a den, 3 bathrooms and a single-car garage, providing plenty of space for a student household. The property is conveniently located close to Western University, with easy access to transit, shopping, restaurants and other amenities.The functional layout offers multiple living spaces and bedrooms, while the 1.5-storey design adds character and flexibility. The single-car garage provides valuable parking and storage.With current rental income of $4,250/month and the existing lease secured until April 30, 2027, this is an opportunity to add a turnkey student rental to your portfolio with income already in place. A great location, established rental history and strong proximity to Western make 220 Bernard Ave worth a look.
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| Type | Detached |
| Style | 1 1/2 Storey |
| Approx. Age | Not available |
| Size | 1100-1500 sq. ft. |
| Property Tax | $5,398 |
| Lot Size | 40 ft x 125 ft |
| mls© Number | X14087654 |
| Listed By | SUTTON GROUP PREFERRED REALTY 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
- $450
- Heat allowance
- $150
- Housing costs
- $3,670 / mo
Lenders cap these at 39% of gross income — that sets the number.
Income needed
$113,000
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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