583 Mornington Avenue #501
London East, N5Y 3E9·MLS® X13173560·
Listing courtesy of Re/max A-b Realty LTD Brokerage·Updated May 26
Listing price
$174,999
Est. $833/mo
Days on market
Listed May 26, 2026
Description
Bright and affordable 1+den condo with stunning views at 501-583 Mornington Ave, London, ON. This spacious unit is an excellent option for first-time buyers, investors, or anyone looking for an affordable student home. Set in a quiet, clean, and well-managed building, it offers comfort, convenience, and strong value. The large private balcony showcases sweeping city views and is the perfect place to relax with a morning coffee or enjoy the sunset. Inside, the practical layout includes a generous living area, a bright bedroom, and a versatile den ideal for a home office, study area, or guest space. Condo fees include heat, hydro, and water, making monthly costs easier to manage. Whether you are entering the market or adding a property in a high-demand rental area, this condo is a smart opportunity in a solid building.
Property details
Garage
1 car None
Basement
Full
Parking
1 spaces
Type
Condo Apartment — Apartment
Heating
Radiant
AI property estimate
82% confidence · 11 comparable sales analysed
Location & neighbourhood
London East, ON
Expansive east London district with parks and a wide range of affordable to mid-range housing.
Monthly payment estimate
Land transfer tax
Ontario LTT
$1,475
First-time rebate
−$1,475
First-time buyer rebate of up to $4,000 may apply. Consult a lawyer for eligibility.
Price & listing history
Sold comparables nearby
Sold$140,000
407 - 563 Mornington Avenue, London East
Sold$175,000
1107 - 583 Mornington Avenue, London East
See all 10 comparables
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Market conditions · East G
Avg. sold price
$682,400
+5.2%
Avg. days on market
18
−3d
Sale-to-list ratio
101.2%
+0.8%
Investment analysis
Est. monthly rent
$700
Rental yield
4.8%
Est. cash flow
-$609
Cap rate
3.3%
Best time to sell
Affordability
Minimum household income required
$49,090
Based on 20% down, 5.24% stress test rate, 25yr amortization, 32% GDS ratio.
Similar Listings
AI estimate
$178,641
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