338 Millbank Drive, London South

$599,000
338 Millbank Drive

$599,000

New
42d
DetachedBacksplit 3

338 Millbank Drive, London South

Total Monthly Obligation $3,092

Beds
5
Baths
2
Park
3
Sqft
700-1100
DOM
42d
Score
20
Yield
5.1%
Cash on Cash
-2.3%
Cap Rate
4.1%
5Y IRR
13.8%
10Y IRR
13.2%
Property Type-Detached
MLS® Number-X13776498
Beds-5
Bathrooms-2
Size-700-1100 sqft
Lot Size-61 × 125.33 ft
Listed on site-Sep 11, 2026
Style-Backsplit 3
Building Type-Detached
Taxes-$3,609.66 (2026)
Parking-3 - None
Basement-Finished, Finished with Walk-Out
Heating-Forced Air (Gas)
Brokerage-RE/MAX METROPOLIS REALTY
Cooling-Central Air
Laundry-No
Fireplace-No
Pool-None
Facing-South
Exterior-Vinyl Siding
Roof-Asphalt Shingle
Foundation-Concrete
Sewer-Sewer
Possession-Immediate
Neighbourhood-South S
Title-Residential Freehold

No agent assigned

Welcome to 338 Millbank Drive, where modern comfort, convenience, and spacious living come together! This inviting home offers a fantastic combination of thoughtful upgrades, generous living spaces, and an incredible outdoor setting that is perfect for families and entertainers alike.One of the standout features of this property is the massive backyard - an exceptional outdoor space offering endless possibilities. Whether you envision summer barbecues, family gatherings, a play area for the kids, gardening, or simply relaxing and enjoying your own private outdoor retreat, this expansive backyard provides plenty of room to make it your own.The fully finished basement with a separate entrance adds even more valuable living space and flexibility. Perfect for a recreation room, home office, guest area, extended family, or additional living accommodations, the finished lower level offers versatility to meet your needs.Outside, the spacious driveway provides ample parking for family and guests, adding to the convenience and functionality of the property. With a generous lot, abundant living space, and a fantastic backyard, there is plenty of room to enjoy both indoor and outdoor living. Located close to a wide range of amenities, this home offers the convenience of being near shopping, dining, schools, parks, and everyday essentials. Everything you need is within easy reach while still giving you the space and comfort of a welcoming residential setting.With brand-new flooring, a finished basement with separate entrance, a massive backyard, spacious driveway, and an abundance of desirable amenities, 338 Millbank Drive is a wonderful opportunity to enjoy a comfortable and versatile home with room to grow. Don't miss your chance to make this exceptional property your own - come and experience everything 338 Millbank Drive has to offer!

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(utilities, internet...)
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Closing Costs

Mortgage Amount
$479,200
Land Transfer Taxes$8,455
Legal Fees (Est.)
$
Total cash required for closing$129,755

Total Monthly Obligation

$3,092/mo
Mortgage $2,416
Monthly Loss $2,456
Principal$636
Interest$1,780
Property Tax$301
Home Insurance$125
Variable Costs$250
Returns
Weight: 25%
Cap Rate
3.2%20
Cash-on-Cash
-7.5%1
5-Year IRR
9.8%34
10-Year IRR
10.4%
Returns Index
18.0/ 100
Growth Sentiment
Weight: 20%
%/yr
Score+50
%/yr
Score+50
%
%
Growth Index
50.0/ 100
GradeD
20/ 100
Avoid•Pass

Strategy: Buy & Hold — Weights: CFI 35% · RI 25%
RKI 20% · GI 20%

Assumptions & Inputs
$/mo
%
$
yr
%
Cash Flow
Weight: 35%
Gross Rent
$30,540/yr
NOI
$19,376/yr
Net Cash Flow
-$802/mo
Cash Margin
-31.5%0
Cash Flow Index
0.0/ 100
Risk Profile
Weight: 20%
DSCR
0.679
LTV Ratio
80.0%18
Vacancy Buffer
3.1 mo52
Risk Index
26.4/ 100

*This analysis is independently generated NOT provided by TREB or CREA.

Comparables

Properties near 338 Millbank Drive

Time

Comparables are calculated within a 3km radius based on properties sold or leased within the past 6 months. This helps you understand the current market value and potential rental yield with high precision.

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Data last updated within the past 24 hours.