1042 Dearness Drive
London South, N6E 1N7·MLS® X13478680·
Listing courtesy of Initia Real Estate (ontario) LTD·Updated 4 hours ago
Listing price
$359,900
Est. $1,714/mo
Days on market
Listed Jun 23, 2026
Description
Rare opportunity to acquire a generously sized residential lot in desirable South London. This spacious property measures 45.16 x 198.48 feet, offering exceptional depth and flexibility for future development. Ideally located close to major highways, shopping centres, schools, parks, and other everyday amenities, providing both convenience and strong long-term value. The lot presents excellent potential for builders, investors, or end users looking to construct a detached home or explore the possibility of a multi-family residential dwelling for rental income (subject to municipal approvals). With its large lot size and prime location, this property offers numerous possibilities to design and build a custom residence or income-generating property in a growing and well-connected area of South London. A great opportunity to secure land in a sought-after neighbourhood with strong future potential. Buyer to perform their own due diligence regarding zoning, permits, and development possibilities.
Property details
Garage
2 car
Parking
4 spaces
Type
Vacant Land — Other
AI property estimate
82% confidence · 8 comparable sales analysed
Location & neighbourhood
London South, ON
Expansive southeast neighbourhood with diverse housing, numerous schools, and Wellington Road access.
Monthly payment estimate
Land transfer tax
Ontario LTT
$3,874
First-time rebate
−$3,874
First-time buyer rebate of up to $4,000 may apply. Consult a lawyer for eligibility.
Price & listing history
Market conditions · South Y
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
$1,440
Rental yield
4.8%
Est. cash flow
-$989
Cap rate
3.3%
Best time to sell
Affordability
Minimum household income required
$91,088
Based on 20% down, 5.24% stress test rate, 25yr amortization, 32% GDS ratio.
Similar Listings
AI estimate
$371,057
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