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Property Description
The Gainsborough is a Life Lease Community for adults 55+ allowing affordable and worry-free retirement living on over 5 acres of beautifully landscaped grounds. This ground floor unit faces North and you will enjoy having coffee on your patio that backs onto a private lush green space. This Windsor floor plan has 2 generous sized bedrooms, 1 bath, convenient in-suite laundry & storage room, eat-in kitchen & vinyl floors, with carpet in bedrooms. It comes with a storage locker too. If you like staying active, this complex boasts an excellent social and community atmosphere with organized social events & numerous onsite amenities such as exercise room, billiards room, ping pong table, fireside lounge & library, workshop, hair salon, chapel, guest suites, outdoor patios & gardens, underground car wash bay & more. Within walking distance of scenic Medway Valley nature trails, shopping & groceries at Sherwood Forest Mall & public transit, with University Hospital and other amenities a short drive away. Every suite is individually metered for gas & hydro and Residents are responsible for heating & AC maintenance & repairs, utilities, taxes, condo insurance and monthly fees for their share of common area costs such as water, exterior maintenance, landscaping, management, replacement reserve fund etc. There is surface parking and some underground parking (as becomes available $50 per spot per month). This building is a Life Lease and requires a Cash Purchase (no mortgages). No Pets, No Renters and Maximum 2 Occupants per unit. New Air Conditioning unit installed in 2021. Hot Water Gas Heating with Air Handler. For more info see www.thegainsborough.com
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Property Details
Street
Community
City
Property Type
Condo Apt, Apartment
Approximate Sq.Ft.
800-899
Taxes
$1,647 (2024)
Basement
None
Exterior
Concrete
Heat Type
Water
Heat Source
Gas
Air Conditioning
Central Air
Parking Spaces
1
Parking 1
Common
Garage Type
Surface
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Room Summary
| Room | Level | Size | Features |
|---|---|---|---|
| Kitchen | Main | 8.73' x 11.48' | |
| Living | Main | 12.99' x 18.01' | |
| Prim Bdrm | Main | 9.97' x 14.01' | |
| 2nd Br | Main | 8.60' x 11.75' | |
| Laundry | Main | 5.51' x 7.74' |
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London Market Statistics
London Price Trend
511 Gainsborough Rd 116 is a 2-bedroom 1-bathroom condo listed for sale at $224,900, which is $230,515 (50.6%) lower than the average sold price of $455,415 in the last 30 days (January 21 - February 19). During the last 30 days the average sold price for a 2 bedroom condo in London increased by $4,250 (0.9%) compared to the previous 30 day period (December 22 - January 20) and up $292,398 (179.4%) from the same time one year ago.Inventory Change
There were 70 2-bedroom condos listed in London over the last 30 days (January 21 - February 19), which is up 55.6% compared with the previous 30 day period (December 22 - January 20) and up 3,400.0% compared with the same period last year.Sold Price Above/Below Asking ($)
2-bedroom condos in London typically sold ($8,330) (1.8%) below asking price over the last 30 days (January 21 - February 19), which represents a $14,524 increase compared to the previous 30 day period (December 22 - January 20) and ($2,896) 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 2-bedroom condos in London over the last 30 days (January 21 - February 19) stood at 18.6%, down from 77.8% over the previous 30 days (December 22 - January 20) and down from 269,800.0% one year ago.Average Days on Market when Sold vs Delisted
An average time on the market for a 2-bedroom 1-bathroom condo in London stood at 49 days when successfully sold over the last 30 days (January 21 - February 19), compared to 79 days before being removed from the market upon being suspended or terminated.Listing contracted with Sutton Group Preferred Realty Inc.
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