2884 DEVON Road, London South

$650,000
2884 DEVON Road

$650,000

New
15d
DetachedBacksplit 4

2884 DEVON Road, London South

Total Monthly Obligation $3,460

Beds
5
Baths
3
Park
4
Sqft
1500-2000
DOM
15d
Score
21
Yield
5.7%
Cash on Cash
-0.7%
Cap Rate
4.4%
5Y IRR
15.0%
10Y IRR
14.2%
Property Type-Detached
MLS® Number-X13875152
Beds-5
Bathrooms-3
Size-1500-2000 sqft
Lot Size-41.51 × 105.59 ft
Listed on site-Oct 8, 2026
Style-Backsplit 4
Building Type-Detached
Taxes-$5,562 (2025)
Parking-6 - Attached
Basement-Finished
Heating-Forced Air (Gas)
Brokerage-EXECUTIVE REAL ESTATE SERVICES LTD.
Cooling-Central Air
Laundry-No
Fireplace-Family Room, Natural Gas
Pool-None
Facing-East
Exterior-Vinyl Siding, Brick
Roof-Shingles
Foundation-Concrete
Sewer-Sewer
Possession-Flexible
Neighbourhood-South W
Title-Residential Freehold

No agent assigned

Welcome to this spacious and beautifully maintained 4-level split detached home offering over 2300 sq ft of living space on a premium ravine lot with no rear neighbours. Featuring 4+1 bedrooms, 3 full bathrooms, and two full kitchens, this home is designed for comfort, versatility, and multi-generational living. Enjoy soaring ceiling heights, including a grand 12-ft foyer and high ceilings in the main living area, creating an open and airy feel throughout. The main level offers a bright open-concept layout with a living room, dining room, modern kitchen with granite and quartz countertops, stainless steel appliances, gas stove, laundry, and hardwood flooring-perfect for everyday living and entertaining. The upper level features three generous bedrooms, including a primary suite with a jacuzzi tub. The lower level walkout includes a cozy family room with gas fireplace, an additional bedroom, and a 3-piece bath-ideal for guests, teens, or a home office. The basement level includes a fully self-contained studio apartment with its own kitchen, perfect as an in-law suite or rental opportunity. Outside, you'll find a concrete driveway, stamped concrete deck, gas connection and stove in the garage, and a professionally landscaped yard-all backing onto private greenspace. Located minutes from Highway 401, close to schools, shopping, parks, trails, and transit (4-minute walk to bus stop). This home is truly in park heaven, with an impressive list of recreational facilities within a 20-minute walk: 4 playgrounds, 1 arena, 3 rinks, 1 basketball court, 2 ball diamonds, 4 sports fields, 1 community center, and 2 trails. A rare opportunity to own a spacious, upgraded home on a stunning ravine lot-don't miss it!. **Note: The Property is Tenanted and will sold be on As Is Where Is Basis** **The Photos are from a time before the house was leased out**

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(utilities, internet...)
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Closing Costs

Mortgage Amount
$520,000
Land Transfer Taxes$9,475
Legal Fees (Est.)
$
Total cash required for closing$140,975

Total Monthly Obligation

$3,460/mo
Mortgage $2,622
Monthly Loss $2,770
Principal$690
Interest$1,932
Property Tax$464
Home Insurance$125
Variable Costs$250
Returns
Weight: 25%
Cap Rate
3.6%23
Cash-on-Cash
-5.9%2
5-Year IRR
11.0%43
10-Year IRR
11.4%
Returns Index
22.5/ 100
Growth Sentiment
Weight: 20%
%/yr
Score+50
%/yr
Score+50
%
%
Growth Index
50.0/ 100
GradeD
21/ 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
$37,020/yr
NOI
$23,256/yr
Net Cash Flow
-$684/mo
Cash Margin
-22.2%0
Cash Flow Index
0.1/ 100
Risk Profile
Weight: 20%
DSCR
0.7411
LTV Ratio
80.0%18
Vacancy Buffer
2.8 mo45
Risk Index
25.0/ 100

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

Comparables

Properties near 2884 DEVON Road

Time

Comparables are calculated within a 3km radius based on properties sold or leased within the past 6 months. This helps you understand the current market value and potential rental yield with high precision.

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Data last updated within the past 24 hours.