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For sale
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$219,900

Est. $1,030/mo mortgage

2bd·1ba·800-899sqft

511 Gainsborough Road #328 · London North, N6G 4Z5

MLS® X13590392

65 days on market65 days on market

Listed Jul 21, 2026

Listing courtesy of Glen Gordon Real Estate LTD.·Updated 6 days ago

Description

You'll enjoy living in this community! The GAINSBOROUGH IS UNIQUE! It is a Life Lease Community for adults 55+, allowing affordable & worry-free retirement living! Situated on approximately 5 acres of beautifully landscaped grounds. This unit is the "Windsor" plan with bonus special features: Vaulted ceiling in the living/dining rooms with 'Transom-like windows that let the Natural Light dance throughout the spacious living space. The private balcony faces north overlooking the lovely park-like gardens! This plan has 2 generous size bedrooms, 1 bath, convenient in-suite laundry & storage room. The kitchen is graced with lovely oak cupboards & lots of counter space. The pass-through window opens to the dining area letting in natural light. All 6 appliances included (the kitchen appliances are newer). Some rooms have been virtually staged. Located in a prestigious neighbourhood with easy access to local shops, groceries, restaurants, drug stores, medical offices, public transit & walking trails! It's a wonderful place to live for a social & active lifestyle! This building offers a library and fireside lounge, billiards and ping pong room, Chapel, guest suite, exercise room, workshop, outdoor patios & sitting areas & more! Each unit includes an underground storage locker. There is a car wash station. Grade level open space common parking included. Underground parking available for $50/month - subject to availability. TERRIFIC LOCATION...within walking distance to Sherwood Forest Mall, Aquatic Centre, Lovely nature & bike trails. Close to University Hospital. NOTE: This is a no-pet, cash only community with No Mortgage Options available for Life Lease. This Life lease buildings cannot be mortgaged. For adults 55+, maximum 2 adults per unit, upon approval. No pets or renters allowed. Cash purchase only.

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Property details

Interior

Interior
800-899 sqft
Rooms
6 rooms
Bathrooms
1 × 4-piece
Basement
None
Heating
Forced Air
Cooling
Central Air
Laundry
Y

Building & lot

Type
Condo Apartment, Apartment
Age
16-30 years
Exterior
Brick, Stucco (Plaster)
Foundation
Concrete
Exposure
North

Parking

Parking
1 spaces
Locker
Owned

Fees & taxes

Condo fee
$772/mo
Fee includes
water
Pets
No
Property tax
$1,755/yr (2025)
Corporation
GCC
Managed by
Grace Community Corp

Building amenities

Car Wash · Community BBQ · Elevator · Guest Suites · Exercise Room · Game Room

Rooms

Flat

Living Room, Vaulted Ceiling(s)
5.48 × 3.99 m
Primary Bedroom
4.145 × 3.048 m
Bedroom
3.413 × 2.59 m
Laundry
2.43 × 1.52 m
Kitchen
3.627 × 2.712 m
Foyer
2.74 × 1.25 m

AI property estimate

$207,398Estimate is ~5.7% below asking

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

$186,658$228,138

79% confidence · 31 sold homes within 2 km, by price per sq ft

Location & neighbourhood

Directions
University Heights

London North, ON

Residential neighbourhood bordering Western University, popular with faculty and professionals.

Monthly paymentest. $2,231/mo all in

Monthly payment estimate

Mortgage (5.07%, 25yr)$1,030
Property tax$132
Insurance (est.)$46
Utilities (est.)$250
Condo fee$772
Total monthly$2,231
Land transfer tax$1,924 on closing

Ontario LTT

$1,924

First-time rebate

$1,924

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

Price & listing history

$219,900

Listed Jul 21, 2026

On the market

Sold comparables nearby

707 - 931 Wonderland Road, London SouthSold

707 - 931 Wonderland Road, London South

1 bd·1 ba·600-699 sqft
507 - 30 Chapman Court, London NorthSold

507 - 30 Chapman Court, London North

2 bd·2 ba·1,000-1,199 sqft

See what these 6 homes sold for

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Market conditionsBuyer's market in University Heights

Homes here are selling below asking. Based on 6 sales in the last 90 days, at an average of 97.9% of asking.

Buyer's marketBalancedSeller's market

Avg. sold price

$253,500

Sale-to-list ratio

97.9%

Based on 6 recent comparable sales near this home.

Affordabilityneeds $58,000 household income

Minimum household income required

$58,000

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$1,850/mo median for 2 bed nearby

$1,850/month is the median rent for 2-bedroom homes leased within 3km over the past 12 months, across 13 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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