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BEDROOMS2
BATHROOMS2
KITCHENS12
ROOMSX11976341
MLSIDContact Us
Property Description
This fully leased, licensed duplex is a fantastic investment opportunity, generating steady rental income with a 2-bedroom main floor unit and an upper bachelor unit. Whether you're an investor or looking to offset your mortgage with rental income, this property delivers.The unfinished basement offers excellent potential to increase value, with great ceiling height, a separate walkout, and a spacious layout. It presents potential opportunities such as expanding the main units living space, providing additional tenant storage, or housing a coin-operated laundrycreating an extra income stream.Additional perks include a large shed that has previously been rented out for extra revenue. Recent updatesdeck repairs, fresh paint in the main unit, a new vanity, toilet, and bathroom windowensure the property is well-maintained and move-in ready.Located on a corner lot with two parking spaces and a generous backyard, this duplex is minutes from Victoria Hospital, public transit, and key amenities. Dont miss this chance to own a turnkey investment with room to grow!
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Listing History
| List Date | End Date | Days Listed | List Price | Sold Price | Status |
|---|---|---|---|---|---|
| 2024-06-17 | 2024-09-30 | 105 | $479,000 | - | Expired |
| 2021-06-22 | 2021-06-30 | 9 | $399,900 | $375,000 | Sold |
| 2003-12-29 | 2004-01-06 | 15 | $114,900 | $112,000 | Sold |
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Property Details
Street
Community
City
Property Type
Duplex, 1 1/2 Storey
Lot Size
125' x 40'
Fronting
East
Taxes
$2,517 (2024)
Basement
Sep Entrance, Unfinished
Exterior
Brick
Heat Type
Forced Air
Heat Source
Gas
Air Conditioning
None
Water
Municipal
Parking Spaces
1
Garage Type
None
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London Market Statistics
London Price Trend
42 Terrace St is a 3-bedroom 2-bathroom home listed for sale at $449,900, which is $175,311 (28.0%) lower than the average sold price of $625,211 in the last 30 days (January 21 - February 19). During the last 30 days the average sold price for a 3 bedroom home in London declined by $14,001 (2.2%) compared to the previous 30 day period (December 22 - January 20) and up $370,637 (145.6%) from the same time one year ago.Inventory Change
There were 193 3-bedroom homes listed in London over the last 30 days (January 21 - February 19), which is up 27.8% compared with the previous 30 day period (December 22 - January 20) and up 915.8% compared with the same period last year.Sold Price Above/Below Asking ($)
3-bedroom homes in London typically sold ($13,503) (2.2%) below asking price over the last 30 days (January 21 - February 19), which represents a $14,518 increase compared to the previous 30 day period (December 22 - January 20) and ($3,099) 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 (January 21 - February 19) stood at 64.2%, down from 101.3% over the previous 30 days (December 22 - January 20) and down from 210,715.8% 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 27 days when successfully sold over the last 30 days (January 21 - February 19), compared to 69 days before being removed from the market upon being suspended or terminated.Listing contracted with Blue Forest Realty Inc.
Similar Listings
Opportunity knocks! This duplex is perfect for investors or handy homeowners looking to add value. While it needs some TLC, its full of potential. Featuring two units: 1-two bedroom rented month to month ($1500) and 1-one bedroom currently vacant, this property offers flexibilitylive in one and rent the other or maximize rental income in this high-demand area!Located just steps from 100 Kellogg Lane, the soon-to-be Hard Rock Hotel, Western Fair Complex, and casino, this property is in the heart of a rapidly developing neighbourhood. Plus, with bus routes at your doorstep and a convenient driveway on a side road, accessibility is a breeze. Dont miss this chance to invest in a prime locationbring your vision and make it your own!
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Welcome to 971 Ormsby Street, a stunning duplex nestled in the heart of the vibrant City of London, Ontario! This fully renovated property boasts an impressive five bedrooms spread across two units, providing the space and comfort perfect for families, multigenerational living, or savvy investors. Each unit has been fully renovated and features its own full modern designed bathroom, ensuring convenience and privacy for everyone. Enjoy outdoor living with a charming deck for the top floor, and a large, beautiful backyard for the main floor - ideal for summer gatherings or tranquil evenings. Located just steps from excellent schools and community amenities, this property is not only an inviting home but also a golden investment opportunity. Picture yourself living in one unit while effortlessly renting out the other - what a fantastic way to have your tenant help pay your mortgage! With ample parking accommodating one car per bedroom and still room for guests, convenience is at your fingertips. Priced to sell and bursting with potential, this gem won't last long on the market, so seize your chance to invest in a bright future in the dynamic city of London!
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