1051 Richmond Street N, London East

$895,000
1051 Richmond Street N

$895,000

New
7d
Detached2 1/2 Storey

1051 Richmond Street N, London East

Total Monthly Obligation $4,413

Beds
7
Baths
4
Park
4
Sqft
1500-2000
DOM
7d
Score
18
Yield
4.4%
Cash on Cash
-4.8%
Cap Rate
3.6%
5Y IRR
11.8%
10Y IRR
11.6%
Property Type-Detached
MLS® Number-X14091110
Beds-7
Bathrooms-4
Size-1500-2000 sqft
Lot Size-26.5 × 80 ft
Listed on site-Oct 16, 2026
Style-2 1/2 Storey
Building Type-Detached
Taxes-$5,130 (2025)
Parking-4 - None
Basement-Partially Finished
Heating-Forced Air (Gas)
Brokerage-RE/MAX ADVANTAGE REALTY LTD.
Cooling-None
Laundry-No
Fireplace-No
Pool-None
Facing-West
Exterior-Brick, Wood
Roof-Asphalt Shingle
Foundation-Concrete
Sewer-Sewer
Possession-flexible
Neighbourhood-East B
Title-Residential Freehold

No agent assigned

ATTENTION INVESTORS/ FIRST TIME HOME BUYERS/ LARGE FAMILIES/ This Old North property has a lot of flexibility for a mortgage helper, main residence or a rental investment to add to your portfolio. Located in one of Londons most desirable neighbourhoods, this is a character-filled century home has a rental licence for 7 bedrooms, with 3+1 bathrooms. Walking in, you're welcomed by an oversized mudroom with plenty of room for coats, shoes and storage. From there, the home opens into a massive living room featuring original hardwood floors that carry through into the oversized dining room, creating a warm and inviting space for entertaining or everyday living.The kitchen sits at the rear of the home with original cabinetry and direct access to the fully fenced backyard. A convenient 2-piece bathroom completes the main level.Upstairs, the second floor features four generously sized bedrooms, all with hardwood flooring and ceiling fans, along with a 4-piece bathroom. Continue to the third level where you'll find two additional bedrooms, another 4-piece bathroom and a potential 8th bedroom with a slightly lower ceiling height and a walk-in closet. This level also includes a dedicated fire exit leading to the backyard . The lowest level has 2 bedrooms, a 3-piece bathroom and laundry/utility. Outside, enjoy a fully fenced yard with green space, a fire pit and a small porch area. Located within walking distance to downtown, Western University, St. Joseph's Hospital, grocery, and all amenities... Directly on a bus route! Whether you're considering student housing, professional rentals or a beautiful Old North family home, this property offers plenty of opportunity.

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(utilities, internet...)
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%
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Closing Costs

Mortgage Amount
$716,000
Land Transfer Taxes$14,375
Legal Fees (Est.)
$
Total cash required for closing$194,875

Total Monthly Obligation

$4,413/mo
Mortgage $3,610
Monthly Loss $3,463
Principal$950
Interest$2,660
Property Tax$428
Home Insurance$125
Variable Costs$250
Returns
Weight: 25%
Cap Rate
2.9%18
Cash-on-Cash
-9.0%1
5-Year IRR
8.5%26
10-Year IRR
9.4%
Returns Index
14.3/ 100
Growth Sentiment
Weight: 20%
%/yr
Score+50
%/yr
Score+50
%
%
Growth Index
50.0/ 100
GradeD
18/ 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
$39,600/yr
NOI
$26,010/yr
Net Cash Flow
-$1,443/mo
Cash Margin
-43.7%0
Cash Flow Index
0.0/ 100
Risk Profile
Weight: 20%
DSCR
0.607
LTV Ratio
80.0%18
Vacancy Buffer
2.2 mo34
Risk Index
19.8/ 100

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

Comparables

Properties near 1051 Richmond Street N

Time

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Data last updated within the past 24 hours.