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New6 days ago

687 Cheapside Street

East C, London East

$389,900

Detached|Bungalow
2 | 2 | 6
About this home

Opportunity knocks with this versatile bungalow offering two self-contained units perfect for investors, multi-generational families, or those looking to offset their mortgage. Ideally located just 7 minutes to both Western University and Fanshawe College, this home is a prime choice for students, faculty, or anyone working or studying at either institution. With such a central location, rental demand is strong and steady. The main floor unit features a bright and spacious layout with 2 bedrooms, a full kitchen, and a comfortable living area ideal for owner-occupants or tenants alike. The fully finished lower level has a separate entrance, its own hydro meter, and a thoughtfully designed 1-bedroom in-law suite.This property is truly set up for separate living arrangements, rental income, or future flexibility. Whether you're looking to live in one unit and rent the other, or add to your portfolio with a turn-key duplex-style setup, this home offers outstanding value, location, and opportunity.

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agent
Jonathan Lee
(647) 983-0770
TypeDetached
StyleBungalow
Approx. AgeNot available
Size700-1100 sq. ft.
Property Tax$3,587
Lot Size116.29 ft x 53.96 ft
mls© NumberX13783866
Listed ByNU-VISTA PINNACLE REALTY BROKERAGE 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%
$1,996
Property tax
$299
Heat allowance
$150
Housing costs
$2,445 / mo

Lenders cap these at 39% of gross income — that sets the number.

Down payment20% · $77,980
25-yr amortization

Income needed

$75,000

gross annual household income

Payment at 4%
$1,641 / mo
Cash down
$77,980

Assumes no other monthly debts · 25-yr amortization

Full affordability check

Investment Analysis

Estimated rent, cap rate and monthly cash flow for this property

Values and trends

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