$559,000
Est. $2,619/mo mortgage
988 Prosperity Court · London East, N5V 5C7
MLS® X12925202
Listed Mar 24, 2026
Listing courtesy of Smart From Home Realty Limited·Updated Jun 18
Description
Investors & First-Time Buyers - Don't Miss This Turnkey Opportunity Near Fanshawe College! 988 Prosperity Court, London | Around $4000 Monthly Income Potential | Fully Finished Basement with In-Law Suite. This versatile and income-generating 3+2 bedroom, 3-bathroom home located just steps from Fanshawe College. Whether you're an investor looking for solid monthly cash flow or a homeowner seeking a mortgage-helper potential, this home checks every box. Currently generating near $4000/month plus utilities, this property boasts a separate side entrance to a fully finished lower-level in-law suite, ideal for students, renters, or extended family. The basement features 2 bedrooms, a 3-piece bathroom, a roughed-in kitchenette, its own laundry, and private living space-perfect for maximizing rental income. The main floor offers an oversized living room with bay window, a 2-piece powder room, and a spacious kitchen with in-suite laundry. Patio doors lead to an impressive backyard-one of the largest in the area-complete with two storage sheds and plenty of outdoor space for tenants or future upgrades. Upstairs, you'll find a large primary bedroom with walk-in closet, two additional generously sized bedrooms, and a full 4-piece bathroom. Recent updates include: Brand new gas furnace (May 2025), New flooring throughout, Updated light & bathroom fixtures, Newer washer and dryer. Located on a quiet cul-de-sac just minutes from public transit, shopping, and Fanshawe College, this property offers a prime location and strong investment fundamentals. Don't Miss it! **INTERBOARD LISTING: CORNERSTONE ASSOCIATION OF REALTORS**
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Property details
Interior
- Size
- 1100-1500 sqft
- Rooms
- 6 rooms
- Bathrooms
- 1 × 2-piece on Second, 1 × 4-piece, 1 × 3-piece on Basement
- Basement
- Finished, Separate Entrance
- Heating
- Forced Air
- Cooling
- Central Air
Building & lot
- Type
- Duplex, 2-Storey
- Age
- 16-30 years
- Lot size
- 36.72 × 153.87 ft
- Exterior
- Brick, Vinyl Siding
- Foundation
- Poured Concrete
- Roof
- Asphalt Shingle
- Water & sewer
- Sewer
Parking
- Driveway
- Private Double (4 spaces)
- Parking
- 4 spaces
Fees & taxes
- Property tax
- $4,543/yr (2025)
Rooms
Main
- Living Room
- 6 × 3.07 m
- Kitchen
- 5.2 × 4.8 m
Second
- Bedroom 2
- 3.1 × 2.8 m
- Bedroom 3
- 3.5 × 3 m
- Bedroom
- 4.3 × 3.5 m
AI property estimate
Automated estimate from recent comparable sales, not a formal appraisal, and not a statement that this listing is priced incorrectly.
61% confidence · 12 sold homes within 2 km, by price per sq ft
Location & neighbourhood
DirectionsLondon East, ON
Large northeast area with schools, parks, and diverse housing near Fanshawe College.
Monthly paymentest. $3,322/mo all in
Monthly payment estimate
Land transfer tax$7,655 on closing
Ontario LTT
$7,655
First-time rebate
−$4,000
First-time buyer rebate of up to $4,000 may apply. Consult a lawyer for eligibility.
Price & listing history
Listed Mar 24, 2026
Earlier listings for this property are shown to registered users under our VOW agreement with LSTAR.
Sold comparables nearby
Sold$580,000
315 SASKATOON Street, London East
Sold$595,000
428 Saul Street, London East
See what these 6 homes sold for
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Market conditionsBalanced market in Huron Heights
Homes here are selling close to asking. Based on 6 sales in the last 90 days, at an average of 98.3% of asking.
Avg. sold price
$623,167
Sale-to-list ratio
98.3%
Based on 6 recent comparable sales near this home.
Affordabilityneeds $138,000 household income
Minimum household income required
$138,000
Based on 20% down, a 7.07% qualifying rate (the 5.07% contract rate plus two points), 25 year amortization and a 32% GDS ratio. Rounded to the nearest thousand.
Not sure about financing? Ask Colin →Rental market$2,350/mo median for 3 bed nearby
$2,350/month is the median rent for 3-bedroom homes leased within 3km over the past 12 months, across 42 leases.
What comparable homes actually leased for, not an estimate of what this one would rent for. Rent depends on condition, finishes and timing in ways this figure cannot see.
Similar Listings
Your advisor
Oak and Key Real Estate Brokerage Inc.
Colin Abbot
Broker
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