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Investment signal

$349,900

402 - 626 FIRST STREET

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Beds

Baths

Sqft

—

Year

—

Type

Single Family

Suite

Investment signal

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Location nearby

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

About this home

Turn-Key investment opportunity directly across from Fanshawe College! This exceptionally clean 3-bedroom, 2 full bathrooms condo is perfect for student living or as a comfortable family home. The unit has been well maintained and thoughtfully updated, featuring updated kitchen and bathroom cabinetry installed in January 2026. All fixtures replaced in December 2025, and updated flooring throughout in 2019.The bright functional layout offers spacious bedrooms and open living and dining areas. The condo comes partially furnished with all main living room and dining room furniture, making it a truly turn-key rental opportunity. Currently fully rented for $2100.00 per month, providing immediate income for investors. The unit also includes one dedicated parking space, and water is included in the condo fees. Located just steps from Fanshawe College, shopping, transit, and amenities, this is prime location with strong rental demand. (id:65958)

Subtype: Single Family
Structure: Apartment
Community: East H
Common interest: Condo/Strata
Bedrooms: 3 above grade
Parking: 1 total
Condo/HOA fee: $625 monthly
On market: Mar 6, 2026
Status changed: Apr 27, 2026
Annual tax: $1,995 (2025)
Photos: 18
MLS#: X12854864
Area: LONDON_EAST_(EAST_H)

Features and systems

Parking

No Garage

Basement

None

Appliances

RefrigeratorDishwasherStove

Heating

Baseboard heatersElectric

Cooling

None

Exterior

Brick

Lot

Flat siteBalconyCarpet FreeLaundry- Coin operated

Community

Pets Allowed With Restrictions

Fee includes

Common Area MaintenanceWaterParking

Positive cash flow ~$184/mo at these assumptions

Monthly rent (CAD)Adjust to your local market estimateDown payment (%)Investment props typically 20-25%Mortgage rate (% annual)Default 4.5% — adjust to your rate holdAmortization (years)

Cash on cash

3.15%

Cap rate

5.50%

GRM

12.1

Break-even rent

$2,206

Financing

Down payment$69,980

Loan amount$279,920

Mortgage$1,418/mo

Operating expenses (monthly)

Property tax(est. 0.55%/yr (AB avg))$160

Insurance$80

Maintenance$292

CapEx reserve$146

Vacancy loss$120

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

Estimated $1,418/mo at 4.5% with 20% down, 30-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 27, 2026.