511 Gainsborough Road #327

London North, N6G 4Z5·MLS® X13775544

Listing courtesy of Re/max Icon Realty·Updated 14 hours ago

Listing price

$234,900

Est. $1,119/mo

Days on market

Listed Sep 12, 2026

For sale

1 / 36

2bd·1ba·800-899sqft·16 to 30 yearsold

Description

Welcome to The Gainsborough, a unique 55+ life lease community offering comfortable, convenient and welcoming independent living. This bright and well-maintained 2 bedroom, 1 bathroom suite offers approximately 885 sq. ft. of comfortable living space and features a south-facing balcony and vaulted ceilings in the living/dining area, creating an open and airy feel. This unit is completely carpet free, with hard surface flooring throughout the main living areas and easy transitions between rooms for added convenience. The air conditioning was replaced in spring of 2026. The updated kitchen features freshly painted cabinetry, new hardware and a stylish backsplash. The bathroom offers a convenient tub/shower cutout designed to make entry and exit easier and provide added convenience. Residents of The Gainsborough enjoy an impressive selection of amenities designed to encourage an active, social and connected lifestyle, including a woodworking room, library, exercise room, billiards, ping pong, fireside lounge, hair salon, chapel, outdoor patios and comfortable seating. Enjoy the convenience of being within walking distance to Sherwood Forest Mall, The Aquatic Centre, nature and bike trails, with University Hospital also nearby. The purchase includes an exclusive underground storage locker and one surface level parking space. Underground parking is $50 a month and subject to availability. The Gainsborough is a 55+ community. Maximum 2 adults per unit. No pets and no rentals are permitted. Please note that life lease purchases are cash only, with no mortgage financing available.

Property details

Type: Condo Apartment, Apartment
Age: 16-30 years
Interior: 800-899 sqft
Rooms: 6 rooms
Bathrooms: 1 × 4-piece
Basement: None
Heating: Forced Air
Cooling: Central Air
Exterior: Brick, Stucco (Plaster)
Parking: 1 spaces
Condo fee: $772/mo
Fee includes: Y
Property tax: $1,819/yr (2025)

Rooms

Flat

Primary Bedroom: 3.05 × 4.27 m
Laundry: 2.44 × 1.52 m
Foyer: 2.74 × 1.25 m
Living Room, Vaulted Ceiling(s): 3.96 × 5.49 m
Kitchen, updated, backsplash: 3.63 × 2.71 m
Bedroom: 2.62 × 3.58 m

AI property estimate

$207,398Estimate is ~11.7% 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 · 30 sold homes within 2 km, by price per sq ft

Location & neighbourhood

University Heights →

London North, ON

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

Monthly paymentMortgage, tax and fees

Monthly payment estimate

Mortgage (5.24%, 25yr)$1,119

Property tax$254

Insurance (est.)$49

Utilities (est.)$250

Total monthly$1,672

Land transfer taxOne-time, on closing

Ontario LTT

$2,074

First-time rebate

−$2,074

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

Price & listing history

$234,900

Listed Sep 12, 2026

On the market

Sold comparables nearby

Sold

$320,000

507 - 30 Chapman Court, London North

2 bd·2 ba·1,000-1,199 sqft

Sold

$312,500

505 - 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 conditionsUniversity Heights · last 90 days

Buyer's marketBalancedSeller's market

Avg. sold price

$272,250

Sale-to-list ratio

97.9%

Based on 6 recent comparable sales near this home.

AffordabilityWhat income this home needs

Minimum household income required

$65,000

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.

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