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Property Description
CALLING LONDON INVESTORS: Welcome to 1942 Duluth Cres, a fully renovated investment gem in the heart of London. This spacious bungalow features a 3+3 bedroom, 1+1 bathroom, 1+1 kitchen layout on a generous 50x136 ft lot. Completed in 2022, the modern renovation includes great finishes throughout, making this property as stylish as it is functional. Generating $4,000/month in rental income, its an excellent opportunity for investors or those seeking a multi-family living setup. The open-concept main floor offers a bright and inviting living space, with a contemporary eat-in kitchen that showcases upgraded cabinetry and sleek, modern appliances. Each of the three bedrooms on this level provides ample room for relaxation, and the seamless flow between the kitchen, dining, and living areas creates an ideal setting for entertaining or family gatherings. A separate side entrance leads to a fully finished in-law suite featuring 3 Bedrooms, 1 Bathroom, laundry, and kitchen. Outside, the expansive backyard offers endless possibilities for outdoor enjoyment, with plenty of space for relaxing or social gatherings. Nestled in a vibrant community, 1942 Duluth Cres provides easy access to Forest View Park, the Thames River pathway, and is only minutes from major amenities including dining, shopping, and groceries. The location is ideal, with convenient access to the 401 and proximity to the airport, making citywide travel a breeze. Don't miss this opportunity to own a beautifully modernized property in one of London's most accessible and desirable rental neighbourhoods! Property is being offered in AS-IS condition and buyer to assume tenants and continue their existing lease. Offer Date: TUESDAY, NOVEMBER 19th @7pm.
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Listing History
| List Date | End Date | Days Listed | List Price | Sold Price | Status |
|---|---|---|---|---|---|
| 2024-07-02 | 2024-07-15 | 13 | $2,300 | $2,300 | Leased |
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Property Details
Street
Community
City
Property Type
Detached, Bungalow
Lot Size
50' x 137'
Fronting
South
Taxes
$3,479 (2023)
Basement
Finished, Sep Entrance
Exterior
Brick
Heat Type
Forced Air
Heat Source
Gas
Air Conditioning
Central Air
Water
Municipal
Parking Spaces
3
Driveway
Private
Garage Type
None
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Room Summary
| Room | Level | Size | Features |
|---|---|---|---|
| Kitchen | Main | 10.01' x 11.42' | |
| Living | Main | 17.49' x 11.42' | |
| Br | Main | 8.99' x 13.42' | |
| 2nd Br | Main | 8.01' x 11.42' | |
| 3rd Br | Main | 9.91' x 11.32' | |
| Bathroom | Main | 4.76' x 7.84' | 4 Pc Bath |
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London Market Statistics
London Price Trend
1942 Duluth Cres is a 3-bedroom 2-bathroom home listed for sale at $499,900, which is $135,369 (21.3%) lower 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 Rare Real Estate
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