553 Quebec Street · London, N5W 3Y9
MLS® X14163020
Listing courtesy of Exp Realty·Listing last changed 13 hours ago
Key facts
- Property type
- Duplex
- Square footage
- 1,100-1,500 sqft
- Lot size
- 32 × 100 ft
- Days on market
- Listed today
- Parking
- 4 spaces
- Property tax
- $3,537/yr (2025)
Description
Amazing Investment Opportunity Located in the heart of London! This turn-key, low-maintenance **legal duplex** in Old East Village will be an amazing addition to your portfolio. Close to downtown, Western Fair Farmer's Market, and all amenities, including convenient bus routes to both Fanshawe College and Western University. Perfect for anyone looking for a spacious, cash-flowing investment or a mortgage helper to ease your payments.This building features **2 spacious legal dwelling units** and an extensive list of recent updates, including Three Hydro Meters and updated Electrical Panels (2022), Roof (2014), Siding/Eavestrough/Soffits/Fascia (2021), Updated Plumbing (2021), Furnace (2019), and Fence (2020-2021).In addition, there is coin-operated shared laundry, plenty of parking, separate entrances for both units, and a full unfinished basement offering ample storage and workshop space.Fully rented to high-quality A+ tenants, generating a total of **$3,300/month in rental income** - $1,650 for Unit 1 and $1,650 for Unit 2. A fantastic opportunity to own a well-maintained, income-generating property with **2 legal dwellings** in a desirable and convenient London location.
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Property details
Interior
- Rooms
- 6 rooms · 2 kitchens
- Bathrooms
- 2 × 3-piece
- Basement
- Full, Unfinished
- Heating
- Forced Air
- Cooling
- Central Air
Building & lot
- Type
- Duplex, 2-Storey
- Exterior
- Aluminum Siding, Brick
- Foundation
- Brick
- Roof
- Asphalt Shingle
- Water & sewer
- Sewer
Parking
- Driveway
- Private Double (4 spaces)
Rooms
Other
- Bedroom 2
- 9 × 13.2 m
- Bathroom
- 6.6 × 7.1 m
- Bathroom
- 5.1 × 9.1 m
- Primary Bedroom
- 13.3 × 10.3 m
- Kitchen
- 12.1 × 9.1 m
- Laundry
- 7.8 × 8.7 m
- Dining Room
- 18.5 × 10.11 m
- Bedroom 3
- 8.11 × 13.2 m
Estimated value range
$428K to $473K
An automated range from recent comparable sales nearby. It is not an appraisal and says nothing about whether this home is priced correctly; condition, finishes and timing are outside what it can see.
Based on a model of 13,409 London sales through September 2026; it lands within 10% of the sold price on 64% of homes. Shown within 5% of the asking price.
Schools nearbyclosest is East Carling Public School, 690 m
Elementary
- 4.2
East Carling Public School
690 m · Grades JK-8
Thames Valley District School Board
- 4.8
Blessed Sacrament Separate School
940 m · Grades JK-8
London District Catholic School Board
- 9.3
St Mary School
1.2 km · Grades 5-8
London District Catholic School Board
Secondary
Thames Valley Alternative Secondary School
1.2 km · Grades 9-12
- 5.3
H B Beal Secondary School
1.5 km · Grades 9-12
Thames Valley District School Board
- 5.7
Catholic Central High School
1.8 km · Grades 9-12
London District Catholic School Board
Distances are straight-line from this address. School boards set their own attendance areas and do not publish them, so a school listed here is not a guarantee of placement. Confirm with the board before you rely on it.
Monthly paymentest. $2,747/mo all in
Monthly payment estimate
Land transfer tax$5,475 on closing
Ontario LTT
$5,475
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 2 times · asking price down 10% from the first ask
Listed today
Listed Nov 15, 2022 · 27 days on market
Dec 12, 2022
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
Sold320 Ashland Avenue, London East
Sold1 & 2 - 737 William Street, London East
See what these 6 homes sold for
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Market conditionsBuyer’s market in London
6.3 months of inventory: buyers have more options and negotiating power. Nearby, 6 sales in the last 90 days went for an average of 91.1% of asking.
Avg. sold price
$429,333
Sale-to-list ratio
91.1%
Based on 6 recent comparable sales near this home.
Affordabilityneeds $112,000 household income
Minimum household income required
$112,000
Based on 20% down, a 7.07% qualifying rate (the 5.07% contract rate plus two points), 25 year amortization, this home's listed property tax and a 32% GDS ratio. Rounded to the nearest thousand.
Not sure about financing? Call Colin at (226) 212-5099 or text
Rental market$2,645/mo median for 4 bed nearby
$2,645/month is the median rent for 4-bedroom homes leased within 3km over the past 12 months, across 12 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.
Get notified about similar homes
New duplex listings in Old East Village.
Colin Abbot, Broker
Oak and Key Real Estate Brokerage Inc., Brokerage, 490 Melcrest Road, London, ON N6J 3T1, Phone: (226) 212-5099
Not intended to solicit clients already under contract.
Information herein is deemed reliable but not guaranteed. Listing data is provided by the London and St. Thomas Association of REALTORS® through the MLS® System and is updated multiple times daily. All measurements, square footage, taxes, and property details should be independently verified by buyers and their representatives.
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