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$215,000

Est. $1,007/mo mortgage

2bd·1ba·900-999sqft

583 Mornington Avenue #504 · London East, N5Y 3E9

MLS® X13622364

55 days on market55 days on market

Listed Jul 30, 2026

Listing courtesy of Royal Lepage Triland Realty·Updated Sep 12

Description

Experience the largest two-bedroom floorplan available in Sunrise Condos, offering a great investment and steady rental demand in London East. Unit 504 is a stand-out corner unit with luxury laminate plank flooring throughout the main living areas, a modernized four-piece bathroom, and in-suite storage. The functional, open-concept layout maximizes every square inch. A significant asset to your bottom line: the monthly condo fees include hydro, heat, water, and dedicated surface parking. This utility coverage eliminates variable overhead expenses, delivering highly predictable monthly cash flow for portfolio investors and simplified budgeting for home owners. Located in a high-demand commuter and student hub, residents are steps from major public transit with a direct, minutes-long route straight to Fanshawe College, making it a prime off-campus housing choice. The building is within comfortable walking distance to the extensive shopping and dining options along the Oxford Street commercial corridor, local elementary schools, and neighborhood parks. Whether you are looking to secure a turnkey entry-level home or capitalize on London's robust rental market with a low-maintenance asset, this property delivers immediate practical value and long-term investment viability. Couch/Pullout bed, and queen hydraulic bed are negotiable.

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Property details

Interior

Interior
900-999 sqft
Rooms
5 rooms
Bathrooms
1 × 4-piece on Flat
Basement
None
Heating
Baseboard
Cooling
Window Unit(s)
Laundry
N

Building & lot

Type
Condo Apartment, Apartment
Age
51-99 years
Exterior
Concrete
Storeys
5
Exposure
East

Parking

Parking
1 spaces
Locker
None

Fees & taxes

Condo fee
$652/mo
Fee includes
heat, hydro, water, parking
Pets
Yes-with Restrictions
Property tax
$1,673/yr (2026)
Corporation
MSCC 890
Managed by
Larlyn Property Management

Building amenities

Visitor Parking

Rooms

Flat

Primary Bedroom
4.55 × 3.38 m
Kitchen, Ceramic Floor
3.48 × 2.41 m
Bathroom, 4 Pc Bath
2.41 × 1.47 m
Living Room, combined w/dining, w/o to balcony
5.59 × 5.11 m
Bedroom 2
3.48 × 3.43 m

AI property estimate

$228,247Estimate is ~6.2% above asking

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

$205,422$251,072

79% confidence · 40 sold homes within 2 km, by price per sq ft

Location & neighbourhood

Directions
Argyle

London East, ON

Expansive east London district with parks and a wide range of affordable to mid-range housing.

Monthly paymentest. $2,084/mo all in

Monthly payment estimate

Mortgage (5.07%, 25yr)$1,007
Property tax$130
Insurance (est.)$45
Utilities (est.)$250
Condo fee$652
Total monthly$2,084
Land transfer tax$1,875 on closing

Ontario LTT

$1,875

First-time rebate

$1,875

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

Price & listing history

Listed 2 times over 1 month · asking price down 10% from the first ask · sold 8% below the final ask

$215,000 10%

Listed Jul 30, 2026

On the market
$240,000

Listed Aug 4, 2023 · 27 days on market

Sold

Aug 31, 2023

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

27 days on the market in total across 2 listings. Each listing carries its own MLS® number, so the days-on-market shown on any single one resets.

Sold comparables nearby

808 - 583 MORNINGTON AVE Avenue, London EastSold

808 - 583 MORNINGTON AVE Avenue, London East

2 bd·1 ba·800-899 sqft
1105 - 573 Mornington Avenue, London EastSold

1105 - 573 Mornington Avenue, London East

1 bd·1 ba·600-699 sqft

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.

Buyer's marketBalancedSeller's market

Avg. sold price

$184,367

Sale-to-list ratio

92.9%

Based on 6 recent comparable sales near this home.

Affordabilityneeds $56,000 household income

Minimum household income required

$56,000

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$1,725/mo median for 2 bed nearby

$1,725/month is the median rent for 2-bedroom homes leased within 3km over the past 12 months, across 75 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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