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BEDROOMS2
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KITCHENS8 + 7
ROOMSX9358053
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Property Description
Attention investors and multi-generational families! This high quality property is being offered together or independant of neighbouring income property 1519 Howland Ave (MLS #: X9358072); conveniently located several doors down on the same road.This impressive student rental opportunity generating over $3700/mo in rental income is ideally situated on the doorstep of Fanshawe College. Literally located less than couple minutes walk to the main access on Oxford Street with convenient direct access through gate situated at the rear of the yard. The prime set up of this property features two seperate living spaces totalling six bedrooms; including a main level and lower level with seperate walkout entrance; each featuring three spacious bedrooms, a functional renovated washroom, renovated modern style kitchen, and a shared living area. The seperate living areas could also be ideal for a multi-generational family looking to have the set up of two seperate living areas. The neighbourhood offers a balance of families and students. This location also offers an impressive long double wide driveway that could accomodate for up to ten cars with a functional double car garage that could also house an additional two vehicles. Currently this space has items being stored by tenants; however this is not in their leases so could be repurposed by the owners or used to generate addtional income for storage. This property also offers very close access to major public transit routes and is situated in close driving distance to major shopping centers including the Oxbury plaza and Argyle Mall; and has many sports and recreation centers in the direct and surrounding area. Although it sits in close proximity to major transportation routes, the house sits near the end of a culdesac that is sheltered from high activity. This could be a prime candidate for an additonal garden suite unit and/or adding value through pursuing the process to convert the property into a legal duplex as an option.
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Property Features
Cul De Sac, Fenced Yard, Public Transit, Rec Centre, School, School Bus Route
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Property Details
Street
Community
City
Property Type
Detached, Bungalow
Approximate Sq.Ft.
1500-2000
Lot Size
58' x 134'
Acreage
< .50
Lot Irregularities
134.04 x 58.12 x 133.73 x .01 x 58.11/ft
Fronting
North
Taxes
$2,880 (2023)
Basement
Finished, Sep Entrance
Exterior
Alum Siding, Brick
Heat Type
Forced Air
Heat Source
Gas
Air Conditioning
Central Air
Water
Municipal
Parking Spaces
10
Driveway
Private
Garage Type
Detached
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Room Summary
| Room | Level | Size | Features |
|---|---|---|---|
| Prim Bdrm | Main | 10.66' x 11.75' | |
| Br | Main | 9.09' x 11.75' | |
| 2nd Br | Main | 9.58' x 11.75' | |
| Kitchen | Main | 11.15' x 10.33' | |
| Bathroom | Main | 4.82' x 7.58' | 4 Pc Bath |
| Dining | Main | 10.33' x 14.07' | |
| Living | Main | 16.17' x 11.91' | |
| 3rd Br | Bsmt | 9.15' x 11.25' | |
| 4th Br | Bsmt | 15.58' x 8.92' | |
| 5th Br | Bsmt | 10.99' x 13.16' | |
| Bathroom | Bsmt | 5.74' x 7.91' | 3 Pc Bath |
| Kitchen | Bsmt | 9.74' x 9.68' |
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London Market Statistics
London Price Trend
1504 Howland Ave is a 3-bedroom 2-bathroom home listed for sale at $659,000, which is $23,731 (3.7%) higher than the average sold price of $635,269 in the last 30 days (October 21 - November 19). During the last 30 days the average sold price for a 3 bedroom home in London increased by $7,395 (1.2%) compared to the previous 30 day period (September 21 - October 20) and up $22,603 (3.7%) from the same time one year ago.Inventory Change
There were 232 3-bedroom homes listed in London over the last 30 days (October 21 - November 19), which is down 23.9% compared with the previous 30 day period (September 21 - October 20) and up 700.0% compared with the same period last year.Sold Price Above/Below Asking ($)
3-bedroom homes in London typically sold ($13,350) (2.1%) below asking price over the last 30 days (October 21 - November 19), which represents a $1,333 decrease compared to the previous 30 day period (September 21 - October 20) and ($10,566) less than the same period last year.Sales to New Listings Ratio
Sold-to-New-Listings ration (SNLR) is a metric that represents the percentage of sold listings to new listings over a given period. The value below 40% is considered Buyer's market whereas above 60% is viewed as Seller's market. SNLR for 3-bedroom homes in London over the last 30 days (October 21 - November 19) stood at 91.4%, up from 63.6% over the previous 30 days (September 21 - October 20) and up from 62.1% one year ago.Average Days on Market when Sold vs Delisted
An average time on the market for a 3-bedroom 2-bathroom home in London stood at 26 days when successfully sold over the last 30 days (October 21 - November 19), compared to 59 days before being removed from the market upon being suspended or terminated.Listing contracted with Exp Realty
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