550 Second Street 2, London East

$379,900
550 Second Street 2

$379,900

New
30d
Condo Townhouse2-Storey

550 Second Street 2, London East

Total Monthly Obligation $2,263

Bed+Den
4+1
Baths
2
Park
1
Sqft
1200-1399
DOM
30d
Score
26
Yield
7.3%
Cash on Cash
2.9%
Cap Rate
5.2%
5Y IRR
17.9%
10Y IRR
16.5%
Property Type-Condo Townhouse
MLS® Number-X13818264
Bed+Den-4+1
Bathrooms-2
Size-1200-1399 sqft
Listed on site-Sep 23, 2026
Style-2-Storey
Building Type-Condo Townhouse
Age-31-50
Taxes-$1,744.38 (2026)
Maintenance-$385.56/mo
Locker-None
Parking-1 - None
Basement-Partially Finished
Heating-Forced Air (Electric)
Brokerage-HOMELIFE SILVERCITY REALTY INC.
Cooling-Central Air
Laundry-No
Fireplace-No
Pool-None
Exterior-Board & Batten
Roof-Shingles
Foundation-Concrete
Possession-Flexible
Neighbourhood-East H
Title-Residential Condo & Other

No agent assigned

Welcome to 550 Second Street, Unit 2 - a beautifully updated 3+1 bedroom, 1.5 bathroom condo townhouse offering modern finishes, functional living space, and a convenient East London location. An excellent opportunity for first-time buyers, families, or investors, this move-in-ready home features luxury vinyl flooring, updated trim and interior doors, and modern light fixtures throughout. The main floor offers a modern kitchen and a bright, open-concept living and dining area, along with a convenient powder room. Upstairs are three spacious bedrooms, including a primary bedroom with two large closets, plus an updated 4-piece bathroom with a tiled shower. The partially finished basement provides additional versatility with one bedroom, a den, and unfinished space for storage, giving you plenty of room to adapt the home to your needs. Located approximately a 10-minute walk to Fanshawe College, with convenient access to public transit, shopping, restaurants, schools, parks, and everyday amenities. Enjoy low-maintenance condo living in a well-maintained complex. Fresh, modern, and move-in ready - book your private showing today!

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(utilities, internet...)
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Closing Costs

Mortgage Amount
$303,920
Land Transfer Taxes$4,174
Legal Fees (Est.)
$
Total cash required for closing$81,654

Total Monthly Obligation

$2,263/mo
Mortgage $1,532
Monthly Loss $1,860
Principal$403
Interest$1,129
Property Tax$145
Condo Fees$386
Home Insurance$50
Variable Costs$150
Returns
Weight: 25%
Cap Rate
4.2%29
Cash-on-Cash
-2.8%4
5-Year IRR
13.6%62
10-Year IRR
13.5%
Returns Index
32.0/ 100
Growth Sentiment
Weight: 20%
%/yr
Score+50
%/yr
Score+50
%
%
Growth Index
50.0/ 100
GradeD
26/ 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
$27,600/yr
NOI
$16,069/yr
Net Cash Flow
-$193/mo
Cash Margin
-8.4%1
Cash Flow Index
0.9/ 100
Risk Profile
Weight: 20%
DSCR
0.8718
LTV Ratio
80.0%18
Vacancy Buffer
4.2 mo72
Risk Index
36.3/ 100

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

Comparables

Properties near 550 Second Street 2

Time

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Data last updated within the past 24 hours.