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New3 days ago

221 Manitoulin Drive

East O, London East

$489,900

Detached|Bungalow
3 | 2 | 4
About this home

Outstanding first time home buyer opportunity describes this well maintained 3 +1 bedroom 2 full bath brick ranch in fabulous Fairmont subdivision. The main level boasts a lovely living/dining area with lots of natural light, kitchen with great cabinet space, three generous bedrooms and an updated bath. The professionally finished lower level offers a large family room with loads of pot lights, a fourth bedroom/office and a spa style full bathroom. Laundry and storage complete that level. The rear yard, which backs on to a playground area, provides ample green space and patio, ideal for family fun or entertaining. A private drive and a single detached garage are also included.

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agent
Jonathan Lee
(647) 983-0770
TypeDetached
StyleBungalow
Approx. Age51-99
Size700-1100 sq. ft.
Property Tax$3,001
Lot Size50 ft x 110 ft
mls© NumberX13801264
Listed BySUTTON GROUP - SELECT REALTY

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%
$2,508
Property tax
$250
Heat allowance
$150
Housing costs
$2,908 / mo

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

Down payment20% · $97,980
25-yr amortization

Income needed

$89,000

gross annual household income

Payment at 4%
$2,062 / mo
Cash down
$97,980

Assumes no other monthly debts · 25-yr amortization

Full affordability check

Investment Analysis

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

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