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Investment signal

$659,000

7 SUMMIT AVENUE

Beds

Baths

Sqft

—

Year

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Location

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About this home

Prime investment opportunity in a high-demand central location, just a short walk/direct bus to Western University. This licensed & FULLY RENTED rental property offers a total total of 5 bedrooms, making it ideal for student housing.The home features a functional layout with spacious living areas, kitchen and bathrooms, and has been well maintained throughout. Situated on a generous lot with a partially fenced yard, the property also includes a detached garage/storage shed and parking for up to 3 vehicles.Currently tenanted until April 30, 2027 with occupants in place since 2023, providing stable income. Rents are below current market levels, offering significant upside potential for future revenue growth. All major appliances are included.Whether you're looking for a turnkey investment, a student rental. Located within walking distance to amenities, transit. (id:65958)

Subtype: Single Family
Structure: House
Community: North N
Common interest: Freehold
Lot dimensions: 30.3 x 127.3 FT
Bedrooms: 5 above grade
Parking: 3 total
Stories: 2
On market: Apr 15, 2026
Status changed: Apr 16, 2026
Annual tax: $5,817 (2026)
Zoning: R2-2
Photos: 16
MLS#: X13004124
Area: LONDON_NORTH_(NORTH_N)

Features and systems

Parking

No Garage

Basement

FinishedN/A

Appliances

WasherRefrigeratorWater meterStoveDryerWater Heater

Heating

Forced airNatural gas

Cooling

Central air conditioning

Exterior

BrickAluminum siding

Foundation

BlockConcrete

Negative cash flow ~$1,305/mo at these assumptions

Monthly rent (CAD)Adjust to your local market estimateDown payment (%)Investment props typically 20-25%Mortgage rate (% annual)2026 default 5.49% — adjust to your rate holdAmortization (years)

Cash on cash

-11.88%

Cap rate

3.51%

GRM

16.6

Break-even rent

$4,674

Financing

Down payment$131,800

Loan amount$527,200

Mortgage$3,234/mo

Operating expenses (monthly)

Property tax(est. 0.55%/yr (AB avg))$302

Insurance$80

Maintenance$549

CapEx reserve$275

Vacancy loss$165

Estimates only. Actual cash flow depends on financing terms, condition reports, current market rents, property tax assessment, condo fees, and tenant quality. Defaults: 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.

Lifestyle nearby

Nearby school, halal, mosque, grocery, park, and transit layers are still being built for London North (North N). The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.

Mortgage estimate

Estimated $3,234/mo at 5.49% with 20% down, 25-yr amortization.Estimate only — actual payment varies by qualification + insurance.

Listing brokerage

Listing brokerage on file

Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Apr 16, 2026.