244 Edinburgh Street, London, ON N6H 1M3
- $459,999
- 5
- BD
- 2
- BA
- 700
- SqFt
- List Price
- $459,999
- MLS#
- X13723076
- Status
- ACTIVE
- Type
- Single Family Residential
- SubType
- Detached
- Style
- Bungalow
- Bedrooms
- 5
- Bathrooms
- 2
- Living Area
- 700-1100
- Province
- ON
- Municipality
- London
- Area
- Middlesex
- Neighborhood
- North
- Subdivision
- Riverside Dr
Property Description
INVESTORS, RUN THE NUMBERS ON THIS ONE. Offered at $459,999, 244 Edinburgh has 5 bedrooms with potential rents of approximately $750 per room, putting potential gross rental income at $3,750 per month or $45,000 per year.For an investor looking for a student rental, the combination of price, bedroom count and location makes this one worth a serious look. With Western students as a natural tenant pool and convenient access to transit and everyday amenities, the property is well positioned for the student rental market.It's also an interesting option for parents with a child attending Western. Instead of paying rent for the next several years, consider owning the property, giving your student a place to live and renting the remaining bedrooms to help offset the carrying costs.At the asking price, the projected $45,000 in annual gross rent represents approximately a 9.8% gross yield before expenses.Five bedrooms. $3,750 in potential monthly rent. $459,999 asking price.If you've been looking for a London investment property where the numbers actually give you something to work with, 244 Edinburgh is it.
Additional Information
- Taxes
- $3,229
- Heat Type
- Forced Air
- Heat Source
- Gas
- Air Conditioning
- Central Air
- Kitchens
- 1
- Exterior
- Vinyl Siding
- Garage Type
- None
- Pool
- None
- Parking Spaces
- 4
- Parking Type
- Private Double
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Listing courtesy of CENTURY 21 FIRST CANADIAN CORP.