1588 Ernest Avenue 306, London South

$259,900
1588 Ernest Avenue 306

$259,900

Price Change
26d
Condo ApartmentApartment

1588 Ernest Avenue 306, London South

Total Monthly Obligation $1,825

Beds
2
Baths
1
Park
1
Sqft
700-799
DOM
26d
Score
28
Yield
8.9%
Cash on Cash
5.3%
Cap Rate
5.7%
5Y IRR
19.8%
10Y IRR
18.1%
Property Type-Condo Apartment
MLS® Number-X13836142
Beds-2
Bathrooms-1
Size-700-799 sqft
Listed on site-Sep 27, 2026
Style-Apartment
Building Type-Condo Apartment
Taxes-$1,140 (2026)
Maintenance-$481.44/mo
Locker-None
Parking-1 - None
Basement-None
Heating-Baseboard (Other)
Brokerage-RE/MAX ICON REALTY
Cooling-Window Unit(s)
Laundry-No
Fireplace-No
Pool-None
Exterior-Brick
Possession-Flexible
Neighbourhood-South X
Title-Residential Condo & Other

No agent assigned

An affordable opportunity in the heart of White Oaks, this well-kept 2-bedroom condo is a great option for first-time buyers, or investors looking for a rental property in a convenient London location. The unit offers a bright, functional layout with an open-concept living and dining area and access to a large private balcony. Recent improvements include fresh paint throughout, updated trim, and new carpeting in both bedrooms. The kitchen has also been refreshed with new countertops, sink, faucet, and plumbing, while the bathroom features an updated vanity, toilet, and flooring. Condo fees are an affordable $481.44 per month and include heat and water, helping to keep monthly expenses predictable. The building has benefited from a number of improvements over the years, including newer windows and roof, balcony painting, and updates to the parking lot and common hallways. The location makes everyday living easy, with schools, grocery stores, restaurants, White Oaks Mall, White Oaks Community Centre, public transit, and other amenities all nearby. Whether you're looking for an affordable place to call your own or an addition to your investment portfolio, this move-in-ready condo offers plenty of potential in an established neighbourhood. The window air-conditioning unit is included in "as-is" condition. The dishwasher is also included in "as-is" condition, as the current owner has not used it.

$
$
%
%
$
$
$
(utilities, internet...)
$
%
%

Closing Costs

Mortgage Amount
$207,920
Land Transfer Taxes$2,374
Legal Fees (Est.)
$
Total cash required for closing$55,854

Total Monthly Obligation

$1,825/mo
Mortgage $1,048
Monthly Loss $1,549
Principal$276
Interest$772
Property Tax$95
Condo Fees$481
Home Insurance$50
Variable Costs$150
Returns
Weight: 25%
Cap Rate
4.4%31
Cash-on-Cash
-2.0%5
5-Year IRR
14.4%68
10-Year IRR
14.4%
Returns Index
35.1/ 100
Growth Sentiment
Weight: 20%
%/yr
Score+50
%/yr
Score+50
%
%
Growth Index
50.0/ 100
GradeD
28/ 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
$23,088/yr
NOI
$11,462/yr
Net Cash Flow
-$93/mo
Cash Margin
-4.8%2
Cash Flow Index
1.9/ 100
Risk Profile
Weight: 20%
DSCR
0.9120
LTV Ratio
80.0%18
Vacancy Buffer
5.2 mo85
Risk Index
41.4/ 100

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

Comparables

Properties near 1588 Ernest Avenue 306

Time

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