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$499,990

Est. $2,342/mo mortgage

3bd·2ba·700-1,100sqft

53 Madeira Drive · London East, N5V 2M3

MLS® X13524376

80 days on market80 days on market

Listed Jul 5, 2026

Listing courtesy of Exp Realty·Updated Jul 31

Description

Welcome to this beautifully maintained 3+2 bedroom home, perfectly located in a quiet, family-friendly neighbourhood just minutes from Fanshawe College and all major amenities. Enjoy the large corner lot, featuring a composite front deck, spacious concrete patio, parking for 4 cars, and a large storage shed. A bus stop right outside the property adds unmatched convenience for students, commuters, or tenants alike! Step inside to find a bright and inviting interior, freshly painted in most areas, with a well-planned layout offering a comfortable main floor living area, a second kitchen in the basement, and a washroom on each level - perfect for extended family or potential rental income. Recent updates completed in 2025 include new vinyl flooring throughout the main floor, a new heat pump, a new furnace, a new washer, a new stove, and a new backdoor providing direct access to the basement, enhancing comfort and convenience. The property is currently tenanted, and the tenants are flexible - they can stay for steady rental income or vacate for your personal use, giving you options from day one. Safety and convenience have been thoughtfully included with egress windows in the basement and a sprinkler system in the furnace room.Whether you're looking for a move-in ready family home or a turnkey investment property, this one truly has it all!

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Property details

Interior

Interior
700-1100 sqft
Rooms
6 rooms
Bathrooms
2 × 4-piece on Main
Basement
Separate Entrance
Heating
Forced Air
Cooling
Central Air

Building & lot

Type
Detached, Bungalow
Lot size
53.56 × 133.64 ft
Exterior
Brick
Foundation
Poured Concrete
Roof
Shingles
Water & sewer
Sewer

Parking

Driveway
Private Double (4 spaces)
Parking
4 spaces

Fees & taxes

Property tax
$4,090/yr (2025)

Rooms

Main

Kitchen
3.42 × 3.75 m
Bedroom 2
3.47 × 3.04 m
Bedroom 3
3.47 × 2.51 m
Living Room
6.17 × 3.45 m
Primary Bedroom
4.19 × 2.74 m

Basement

Bedroom
5.79 × 2.94 m
Bedroom
4.52 × 2.94 m
Kitchen
3.88 × 2.81 m

AI property estimate

$463,832Estimate is ~7.2% below asking

Automated estimate from recent comparable sales, not a formal appraisal, and not a statement that this listing is priced incorrectly.

$417,449$510,215

76% confidence · 40 sold homes within 2 km, by price per sq ft

Location & neighbourhood

Directions
Huron Heights

London East, ON

Large northeast area with schools, parks, and diverse housing near Fanshawe College.

Monthly paymentest. $2,998/mo all in

Monthly payment estimate

Mortgage (5.07%, 25yr)$2,342
Property tax$301
Insurance (est.)$104
Utilities (est.)$250
Total monthly$2,998
Land transfer tax$6,475 on closing

Ontario LTT

$6,475

First-time rebate

$4,000

First-time buyer rebate of up to $4,000 may apply. Consult a lawyer for eligibility.

Price & listing history

$499,990

Listed Jul 5, 2026

On the market

Earlier listings for this property are shown to registered users under our VOW agreement with LSTAR.

Sold comparables nearby

93 Goldwick Crescent, London EastSold

93 Goldwick Crescent, London East

3 bd·3 ba·1,500-2,000 sqft
107 Susan Avenue, London EastSold

107 Susan Avenue, London East

2 bd·1 ba·700-1,100 sqft

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 100.4% of asking.

Buyer's marketBalancedSeller's market

Avg. sold price

$578,583

Sale-to-list ratio

100.4%

Based on 6 recent comparable sales near this home.

Affordabilityneeds $124,000 household income

Minimum household income required

$124,000

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$2,475/mo median for 3 bed nearby

$2,475/month is the median rent for 3-bedroom homes leased within 3km over the past 12 months, across 38 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.

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Your advisor

Oak and Key Real Estate Brokerage Inc.

Colin Abbot

Broker

519-859-4579 · colin@searchlondonhomes.com

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