$420,000
358 SIMCOE STREET
Beds
3
Baths
2
Sqft
—
Year
—
Type
Single Family
Suite
Suite potential
Location nearby
Nearby school, halal, mosque, grocery, park, and transit layers are still being built for London East (East K). The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.
About this home
Mortgage Helper Opportunity! Welcome to 358 Simcoe Street, located in London's energetic and evolving SOHO district. Whether you're an investor looking for solid cash flow, a first-time buyer hoping to offset your mortgage, or someone wanting flexibility in a growing neighbourhood, this property checks the boxes. Currently generating $3,500 per month in rental income (Front 2-Bedroom: $2,000 / Back 1-Bedroom: $1,500), this home offers two self-contained living spaces designed for both function and comfort. The front unit features an updated kitchen complete with modern cabinetry, stainless steel appliances, a sleek tile backsplash, and a butcher block island that anchors the space beautifully. The open living area flows into a dining/rec space highlighted by soaring cathedral ceilings and exposed wood beams - creating warmth and character you don't often find. Two spacious bedrooms and a bright four-piece bathroom complete the layout. Step outside to a generous patio, perfect for relaxing or entertaining. The rear unit offers its own inviting charm, beginning with a cozy sunroom that leads into a well-sized kitchen and dining area. The living room features impressive ceiling height, creating an airy yet comfortable atmosphere. A large bedroom and three-piece bath make this space ideal for tenants or extended family. Outside, the surprisingly deep backyard includes a stone patio, ample green space, and a substantial storage shed - a rare find this close to downtown. Parking for up to five vehicles adds even more practicality. An exceptional opportunity in one of London's most promising neighbourhoods - whether you're building your portfolio or stepping into homeownership with added income potential, 358 Simcoe Street is worth a closer look. (id:65958)
- Subtype
- Single Family
- Architectural style
- Bungalow
- Structure
- House
- Community
- East K
- Common interest
- Freehold
- Lot dimensions
- 39 x 165 FT
- Bedrooms
- 3 above grade
- Parking
- 5 total
- Stories
- 1
- On market
- Mar 4, 2026
- Status changed
- Apr 18, 2026
- Annual tax
- $3,319 (2025)
- Zoning
- R3-1
- Photos
- 46
- MLS#
- X12842376
- Area
- LONDON_EAST_(EAST_K)
Features and systems
Parking
Basement
Appliances
Heating
Cooling
Exterior
Foundation
Lot
Utilities
Cash on cash
-3.14%
Cap rate
4.24%
GRM
14.6
Break-even rent
$2,632
Financing
Operating expenses (monthly)
Estimates only. Actual cash flow depends on financing terms, condition reports, current market rents, property tax assessment, condo fees, and tenant quality. Defaults: 4.5% rate, 30-year amortization, 5% vacancy, 1%/yr maintenance, 0.5%/yr CapEx reserve, $80/mo insurance. Property tax estimated at 0.55%/yr where not provided. Talk to a mortgage broker before relying on these numbers.
Mortgage estimate
Listing brokerage
Listing brokerage on file
Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Apr 18, 2026.