434 Second Street
London East, N5W 4T1·MLS® X13758698
Listing courtesy of Team Glasser Real Estate Brokerage INC.·Updated yesterday
Listing price
$669,000
Est. $3,186/mo
Days on market
Listed Sep 9, 2026
Description
An excellent investment opportunity with proven cash flow, this fully tenanted 8-bedroom duplex near Fanshawe College offers immediate rental income and an attractive cap rate of over 6% based on current rental revenue and estimated operating expenses. The property consists of two self-contained 4-bedroom, 2-bathroom units, each featuring a private entrance, in-suite laundry, its own furnace and central air conditioning, and separately metered hydro. Current annual gross rental income is approximately $53,000, with an estimated net operating income of approximately $44,000. Located just steps from Fanshawe College, the property sits in one of London's strongest student and workforce rental markets, supporting consistent tenant demand and long-term investment appeal. Additional features include individual HVAC systems for each unit, internet and cable wiring in every bedroom, and a 12 x 10 shed with a steel roll-up door for convenient additional storage. An incredible opportunity to purchase a fully leased, income-producing asset offering immediate cash flow in one of London's most established rental locations.
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Property details
- Type
- Duplex, 1 1/2 Storey
- Age
- 31-50 years
- Lot size
- 54 × 88.01 ft · < .50 acres
- Interior
- 1500-2000 sqft
- Rooms
- 12 rooms
- Bathrooms
- 1 × 4-piece on Main, 2 × 4-piece on Lower, 1 × 4-piece on Upper
- Basement
- Finished, Separate Entrance
- Heating
- Forced Air
- Cooling
- Central Air
- Exterior
- Vinyl Siding
- Foundation
- Concrete
- Roof
- Shingles
- Water & sewer
- Sewer
- Driveway
- Private Double (7 spaces)
- Parking
- 7 spaces
- Property tax
- $3,336/yr (2025)
Rooms
Main
- Bedroom
- 3.44 × 3.01 m
- Bedroom
- 3.42 × 3.19 m
- Kitchen
- 4.18 × 2.45 m
- Living Room
- 3.14 × 5.64 m
Upper
- Bedroom
- 4.05 × 3.43 m
- Dining Room
- 3.78 × 4.23 m
- Primary Bedroom
- 4.05 × 3.41 m
- Kitchen
- 3.78 × 2.2 m
Lower
- Living Room
- 2.44 × 4.03 m
- Bedroom
- 3.19 × 3.13 m
- Bedroom
- 3.37 × 3.12 m
- Bedroom
- 3.39 × 2.8 m
- Primary Bedroom
- 3.55 × 3.14 m
- Laundry
- 1.75 × 2.63 m
AI property estimate
Automated estimate from recent comparable sales, not a formal appraisal, and not a statement that this listing is priced incorrectly.
71% confidence · 12 sold homes within 2 km, by price per sq ft
Monthly paymentMortgage, tax and fees
Monthly payment estimate
Land transfer taxOne-time, on closing
Ontario LTT
$9,855
First-time rebate
−$4,000
First-time buyer rebate of up to $4,000 may apply. Consult a lawyer for eligibility.
Price & listing history
Listed 3 times · asking price down 19% from the first ask
Listed Sep 9, 2026
Listed Jul 20, 2026 · 50 days on market
Sep 8, 2026
Listed Mar 27, 2025 · 92 days on market
Jun 27, 2025
142 days on the market in total across 3 listings. Each listing carries its own MLS® number, so the days-on-market shown on any single one resets.
Sold comparables nearby
Sold$385,000
1185 Albany Street, London East
Sold$543,000
321 Spruce Street, London East
See what these 6 homes sold for
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Market conditionsLondon East · last 90 days
Avg. sold price
$533,667
Sale-to-list ratio
96.8%
Based on 6 recent comparable sales near this home.
AffordabilityWhat income this home needs
Minimum household income required
$174,000
Based on 20% down, a 7.24% qualifying rate (the 5.24% contract rate plus two points), 25 year amortization and a 32% GDS ratio. Rounded to the nearest thousand.
Not sure about financing? Ask Colin →Similar Listings
AI estimate
$543,000
Your advisor
Oak and Key Real Estate Brokerage Inc.
Colin Abbot
Broker
519-859-4579 · colin@searchlondonhomes.com
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