202 Michaelmas Street
East C, London East
$544,900
Great property for a family or someone that would like to live there with extra rental income. Raised bungalow with single garage in Huron Heights. Upper level contains of large open concept living/din room with kitchen, 2 bdrms and 4 pc bath. Main floor features: kitchen, 3 berms and 4pc bathroom. There is a separate entrance off the garage to the main floor. Parking for 7 cars. Many upgrades over the years: upper floor kitchen, bathrooms, flooring, furnace, a/c on-demand water heater. Currently rented $3,000.00 plus all utilities. Tenants are willing to vacate or stay and sign a new lease. Close by Fanshawe College, shopping, bus stop, restaurants.
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| Type | Detached |
| Style | Bungalow-Raised |
| Approx. Age | Not available |
| Size | 700-1100 sq. ft. |
| Property Tax | $3,558 |
| Lot Size | 60 ft x 131.94 ft |
| mls© Number | X13780322 |
| Listed By | SUTTON GROUP PREFERRED REALTY INC. |
Listing History
- No recent sale history for this listing.
- No recent lease history for this listing.
Could you afford this home?
What the bank counts
This home's actual carrying costs, payment stress-tested at 6%
- Mortgage, tested at 6%
- $2,789
- Property tax
- $296
- Heat allowance
- $150
- Housing costs
- $3,236 / mo
Lenders cap these at 39% of gross income — that sets the number.
Income needed
$100,000
gross annual household income
- Payment at 4%
- $2,293 / mo
- Cash down
- $108,980
Assumes no other monthly debts · 25-yr amortization
Full affordability checkInvestment Analysis
Estimated rent, cap rate and monthly cash flow for this property
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