573 Mornington Avenue 705, London East

$199,900
573 Mornington Avenue 705

$199,900

New
20d
Condo ApartmentApartment

573 Mornington Avenue 705, London East

Total Monthly Obligation $1,633

Beds
1
Baths
1
Park
1
Sqft
600-699
DOM
20d
Score
25
Yield
9.8%
Cash on Cash
4.0%
Cap Rate
5.4%
5Y IRR
18.8%
10Y IRR
17.3%
Property Type-Condo Apartment
MLS® Number-X13858474
Beds-1
Bathrooms-1
Size-600-699 sqft
Listed on site-Oct 3, 2026
Style-Apartment
Building Type-Condo Apartment
Age-51-99
Taxes-$1,416.23 (2026)
Maintenance-$508.66/mo
Locker-None
Parking-1 - None
Basement-None
Heating-Baseboard (Electric)
Brokerage-OAK AND KEY REAL ESTATE BROKERAGE, INC.
Cooling-Wall Unit(s)
Laundry-No
Fireplace-No
Pool-None
Exterior-Stucco (Plaster)
Roof-Flat
Possession-Vacant
Neighbourhood-East G
Title-Residential Condo & Other

No agent assigned

Affordable ownership at $199,900! Welcome to this beautifully updated 1-bedroom, 1-bathroom condo offering comfortable, low-maintenance living with manageable monthly costs. The maintenance fee include heat, hydro, water, one assigned parking space. Making it an excellent value for first-time buyers, students, downsizers, or investors. The bright, inviting interior features a modern kitchen with soft-close cabinetry, quartz countertops, a double sink with contemporary faucet, and stainless steel appliances, including a dishwasher, plus a range hood. A rough-in for a wall unit air conditioner is already set up for the warmer months. Luxury vinyl flooring flows throughout, while the renovated 4-piece bathroom showcases floor-to-ceiling porcelain tile, a new bathtub, vanity, and updated fixtures. A spacious 4' x 5' storage closet adds practical storage, and the generously sized private balcony offers room to relax outdoors. The complex has benefited from numerous improvements, including newer windows, patio doors, balcony railings, hallway flooring and lighting, refreshed paint. With a bus stop directly in front. Fanshawe College, Oxbury Mall, shopping, restaurants, and everyday amenities just minutes away, this move-in-ready condo is an appealing opportunity to enter the market at an accessible price.

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

Closing Costs

Mortgage Amount
$159,920
Land Transfer Taxes$1,724
Legal Fees (Est.)
$
Total cash required for closing$43,204

Total Monthly Obligation

$1,633/mo
Mortgage $806
Monthly Loss $1,421
Principal$212
Interest$594
Property Tax$118
Condo Fees$509
Home Insurance$50
Variable Costs$150
Returns
Weight: 25%
Cap Rate
3.9%26
Cash-on-Cash
-4.6%3
5-Year IRR
12.6%55
10-Year IRR
13.1%
Returns Index
28.0/ 100
Growth Sentiment
Weight: 20%
%/yr
Score+50
%/yr
Score+50
%
%
Growth Index
50.0/ 100
GradeD
25/ 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
$19,596/yr
NOI
$7,716/yr
Net Cash Flow
-$163/mo
Cash Margin
-10.0%1
Cash Flow Index
0.7/ 100
Risk Profile
Weight: 20%
DSCR
0.8014
LTV Ratio
80.0%18
Vacancy Buffer
5.8 mo91
Risk Index
41.0/ 100

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

Comparables

Properties near 573 Mornington Avenue 705

Time

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Data last updated within the past 24 hours.