408 Old Riverside Drive, London North

$1,100,000
408 Old Riverside Drive

$1,100,000

New
29d
DetachedBungalow

408 Old Riverside Drive, London North

Total Monthly Obligation $5,600

Beds
3
Baths
3
Park
8
Sqft
2000-2500
DOM
29d
Score
15
Yield
3.7%
Cash on Cash
-9.4%
Cap Rate
2.6%
5Y IRR
8.2%
10Y IRR
8.9%
Property Type-Detached
MLS® Number-X13822902
Beds-3
Bathrooms-3
Size-2000-2500 sqft
Lot Size-100.69 × 581.22 ft
Listed on site-Sep 24, 2026
Style-Bungalow
Building Type-Detached
Age-51-99
Taxes-$9,455 (2025)
Parking-9 - Detached
Basement-Unfinished
Heating-Forced Air (Gas)
Brokerage-SUTTON GROUP CHAPMAN REALTY INC.
Cooling-Central Air
Laundry-No
Fireplace-Yes
Pool-None
Facing-South
Exterior-Brick
Roof-Shingles
Foundation-Concrete
Sewer-Sewer
Possession-Flexible
Neighbourhood-North N
Title-Residential Freehold

No agent assigned

Rarely does an opportunity like this come along. Nestled on a spectacular 1.3-acre riverfront lot, this fully renovated sprawling bungalow offers the perfect blend of luxury, flexibility, and natural beauty. Set on a park-like property measuring an impressive 100 feet wide by 580 feet deep, this is truly a private sanctuary within the city. Step inside to discover a bright and spacious 2,000 sq. ft. open-concept floor plan highlighted by soaring cathedral ceilings and thoughtfully designed living spaces. The gourmet kitchen is a chef's dream, featuring a double-wide refrigerator, professional-grade double gas oven, abundant workspace, and seamless flow into the main living areas. The great room is the heart of the home, complete with a custom built-in wall unit and a striking gas fireplace that creates a warm and inviting atmosphere. With 3 bedrooms and 3 full bathrooms, comfort and convenience abound. A unique feature of this home is its versatile layout, allowing the main level to function as two separate suites, each with its own primary bedroom. This arrangement is ideal for multi-generational living, accommodating an elderly parent, extended family, guests, or even generating additional income. The lower level includes a finished room perfect for a rec room, home office, gym, or hobby space. Outside, enjoy exceptional outdoor living with a covered rear porch overlooking the grounds and a large patio designed for entertaining. Practical features include parking for up to 8 vehicles, an oversized detached garage with 220-amp service, and endless space to enjoy nature right at your doorstep. A rare combination of riverfront living, modern upgrades, and incredible flexibility-this exceptional property must be seen to be appreciated.

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%
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(utilities, internet...)
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%
%

Closing Costs

Mortgage Amount
$880,000
Land Transfer Taxes$18,475
Legal Fees (Est.)
$
Total cash required for closing$239,975

Total Monthly Obligation

$5,600/mo
Mortgage $4,437
Monthly Loss $4,432
Principal$1,168
Interest$3,269
Property Tax$788
Home Insurance$125
Variable Costs$250
Returns
Weight: 25%
Cap Rate
2.0%12
Cash-on-Cash
-13.0%0
5-Year IRR
5.4%12
10-Year IRR
7.1%
Returns Index
7.4/ 100
Growth Sentiment
Weight: 20%
%/yr
Score+50
%/yr
Score+50
%
%
Growth Index
50.0/ 100
GradeD
15/ 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
$40,404/yr
NOI
$22,409/yr
Net Cash Flow
-$2,570/mo
Cash Margin
-76.3%0
Cash Flow Index
0.0/ 100
Risk Profile
Weight: 20%
DSCR
0.424
LTV Ratio
80.0%18
Vacancy Buffer
1.7 mo27
Risk Index
16.1/ 100

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

Comparables

Properties near 408 Old Riverside Drive

Time

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