$174,999
Est. $820/mo mortgage
583 Mornington Avenue #501 · London East, N5Y 3E9
MLS® X13173560
Listed May 26, 2026
Listing courtesy of Re/max A-b Realty LTD Brokerage·Updated Aug 20
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.
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Property details
Interior
- Interior
- 600-699 sqft
- Rooms
- 5 rooms
- Bathrooms
- 1 × 4-piece
- Basement
- Full
- Heating
- Radiant
- Cooling
- Wall Unit(s)
- Laundry
- N
Building & lot
- Type
- Condo Apartment, Apartment
- Exterior
- Stucco (Plaster), Concrete Poured
- Storeys
- 5
- Exposure
- North West
Parking
- Garage
- 1 car None
- Parking
- 1 spaces
- Locker
- Ensuite+Exclusive
Fees & taxes
- Condo fee
- $509/mo
- Fee includes
- heat, hydro, water, parking
- Pets
- Yes-with Restrictions
- Property tax
- $1,324/yr (2026)
- Corporation
- MCC 890
- Managed by
- LARLYN PROP MNGMNT LTD
Rooms
Ground
- Dining Room
- 3.65 × 3.04 m
- Bedroom
- 3.81 × 3.048 m
- Living Room
- 2.438 × 3.96 m
- Den
- 2.438 × 3.65 m
- Bathroom, 4 Pc Bath
- 1.524 × 2.133 m
- Kitchen
- 2.136 × 2.7 m
AI property estimate
Automated estimate from recent comparable sales, not a formal appraisal, and not a statement that this listing is priced incorrectly.
87% confidence · 40 sold homes within 2 km, by price per sq ft
Location & neighbourhood
DirectionsLondon East, ON
Expansive east London district with parks and a wide range of affordable to mid-range housing.
Monthly paymentest. $1,720/mo all in
Monthly payment estimate
Land transfer tax$1,475 on closing
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
Listed May 26, 2026
Earlier listings for this property are shown to registered users under our VOW agreement with LSTAR.
Sold comparables nearby
Sold$230,000
808 - 583 MORNINGTON AVE Avenue, London East
Sold$192,500
1105 - 573 Mornington Avenue, London East
See what these 6 homes sold for
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Market conditionsBuyer's market in London East
Homes here are selling below asking. Based on 6 sales in the last 90 days, at an average of 92.9% of asking.
Avg. sold price
$184,367
Sale-to-list ratio
92.9%
Based on 6 recent comparable sales near this home.
Affordabilityneeds $47,000 household income
Minimum household income required
$47,000
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$1,295/mo median for 1 bed nearby
$1,295/month is the median rent for 1-bedroom homes leased within 3km over the past 12 months, across 45 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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