Homes for Sale in London, Ontario
563 Mornington Avenue #1004
London East, N5Y 4T8·MLS® X13526718·
Listing courtesy of Re/max Centre City Realty INC.·Updated yesterday
Listing price
$159,900
Est. $762/mo
Days on market
Listed Jul 6, 2026
Description
Welcome to Unit 1004 at 563 Mornington Avenue-a fantastic opportunity for both investors and future homeowners. Whether you're looking to purchase an income-producing property with reliable rental income or move in yourself and build equity through your own updates and improvements, this property offers excellent potential. This bright and well-maintained 880 sq. ft. condo features two bedrooms, one bathroom, and is located on the 10th floor, offering plenty of natural light and attractive views. The unit is currently tenanted. The tenants are open to either remaining in the property or vacating for a buyer who wishes to occupy the unit, providing flexibility to suit your plans. A minimum of 24 hours' notice is required for all showings.
Property details
Basement
None
Parking
1 spaces
Type
Condo Apartment — 1 Storey/Apt
Heating
Baseboard
AI property estimate
54% confidence · 8 sold homes within 2 km, by price per sq ft
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
$1,324
First-time rebate
−$1,324
First-time buyer rebate of up to $4,000 may apply. Consult a lawyer for eligibility.
Price & listing history
Sold comparables nearby
Sold$161,000
801 - 573 Mornington Avenue, London East
Sold$189,000
1005 - 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
$640
Rental yield
4.8%
Est. cash flow
-$578
Cap rate
3.3%
Best time to sell
Affordability
Minimum household income required
$45,667
Based on 20% down, 5.24% stress test rate, 25yr amortization, 32% GDS ratio.
Similar Listings
AI estimate
$234,894
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