223 Michaelmas Street, London East

$489,900
223 Michaelmas Street

$489,900

Price Change
22d
DetachedBungalow

223 Michaelmas Street, London East

Total Monthly Obligation $2,718

HausQ Valuation Report
Beds
2
Baths
2
Park
4
Sqft
700-1100
DOM
22d
Score
22
Yield
6.1%
Cash on Cash
0.4%
Cap Rate
4.7%
5Y IRR
15.9%
10Y IRR
14.9%
Property Type-Detached
MLS® Number-X13847244
Beds-2
Bathrooms-2
Size-700-1100 sqft
Lot Size-60 × 132 ft
Listed on site-Oct 1, 2026
Style-Bungalow
Building Type-Detached
Age-51-99
Taxes-$4,404 (2026)
Parking-5 - Detached
Basement-Development Potential, Partially Finished
Heating-Forced Air (Gas)
Brokerage-THE REALTY FIRM INC.
Cooling-Central Air
Laundry-No
Fireplace-No
Pool-None
Facing-West
Exterior-Brick
Roof-Shingles
Foundation-Poured Concrete
Sewer-Sewer
Possession-Prefer Quick
Neighbourhood-East C
Title-Residential Freehold

No agent assigned

Fantastic two-bedroom bungalow on a quiet street with easy access to schools, parks and a variety of neighbourhood amenities. Proudly owned by just the second owners, this well-maintained home has been thoughtfully updated over the past five years, including new basement windows (2026), HVAC ductwork (2024), air conditioning (2025), refaced kitchen cabinets (2023), new refrigerator (2024) and dishwasher (2022), an updated front porch and refreshed décor throughout the main level. The unspoiled lower level features a two-piece bathroom and offers plenty of potential for additional living space, a recreation room, home office or hobby area. The current dining room also provides the flexibility to be converted into a third bedroom, if desired. A detached garage provides valuable additional parking and can easily accommodate a workshop or hobby space. Outside, enjoy the large, fully fenced and beautifully shaded backyard, complete with gazebo, providing the perfect setting for relaxing and enjoying quiet summer days. A wonderful opportunity to own a charming, well-maintained bungalow in a convenient and established neighbourhood.

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(utilities, internet...)
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Closing Costs

Mortgage Amount
$391,920
Land Transfer Taxes$6,273
Legal Fees (Est.)
$
Total cash required for closing$105,753

Total Monthly Obligation

$2,718/mo
Mortgage $1,976
Monthly Loss $2,198
Principal$520
Interest$1,456
Property Tax$367
Home Insurance$125
Variable Costs$250
Returns
Weight: 25%
Cap Rate
3.6%23
Cash-on-Cash
-5.6%2
5-Year IRR
11.3%45
10-Year IRR
11.7%
Returns Index
23.4/ 100
Growth Sentiment
Weight: 20%
%/yr
Score+50
%/yr
Score+50
%
%
Growth Index
50.0/ 100
GradeD
22/ 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
$29,700/yr
NOI
$17,826/yr
Net Cash Flow
-$491/mo
Cash Margin
-19.8%0
Cash Flow Index
0.1/ 100
Risk Profile
Weight: 20%
DSCR
0.7512
LTV Ratio
80.0%18
Vacancy Buffer
3.5 mo60
Risk Index
30.2/ 100

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

Comparables

Properties near 223 Michaelmas Street

Time

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Data last updated within the past 24 hours.