2 Erie Avenue, London South

$469,900
2 Erie Avenue

$469,900

New
3d
Detached2-Storey

2 Erie Avenue, London South

Total Monthly Obligation $2,626

HausQ Valuation Report
Beds
3
Baths
1
Park
2
Sqft
1100-1500
DOM
3d
Score
26
Yield
7.1%
Cash on Cash
4.9%
Cap Rate
5.6%
5Y IRR
19.5%
10Y IRR
17.9%
Property Type-Detached
MLS® Number-X14096474
Beds-3
Bathrooms-1
Size-1100-1500 sqft
Lot Size-30 × 75 ft
Listed on site-Oct 20, 2026
Style-2-Storey
Building Type-Detached
Taxes-$4,265.96 (2026)
Parking-2 - None
Basement-Partially Finished
Heating-Forced Air (Gas)
Brokerage-SYNERGY REALTY LTD
Cooling-Central Air
Laundry-No
Fireplace-Natural Gas
Pool-None
Facing-North
Exterior-Brick
Roof-Metal
Foundation-Block, Brick, Concrete Block
Sewer-Sewer
Possession-Flexible
Neighbourhood-South D
Title-Residential Freehold

No agent assigned

Welcome to 2 Erie Avenue, a charming early 1900s home located on the edge of Wortley Village and just a short walk to the beautiful Coves. This three-bedroom, one-bathroom home blends modern updates with the character of its original era. The bright, open-concept kitchen and living room create a comfortable and functional space for everyday living and entertaining, featuring beautiful cabinetry and stainless steel appliances. This home has been thoughtfully updated while preserving some of its early 1900s character, including a couple of original decorative and stained glass windows that add warmth and appeal.Step outside onto your spacious deck and enjoy a fenced yard with virtually maintenance-free landscaping and a convenient garden shed. Take an easy two minute walk down Erie Ave to the Coves, which offer walking trails, ponds, birdwatching, and the beauty of nature literally outside your door. Additional updates include a metal roof, furnace, central air, breaker panel, and security system.Ideally located close to schools, restaurants, shopping, hospitals, downtown, and so much more! What a wonderful opportunity to enjoy the charm of an older home with the comforts of thoughtful modern updates. Book your private showing today!

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Closing Costs

Mortgage Amount
$375,920
Land Transfer Taxes$5,873
Legal Fees (Est.)
$
Total cash required for closing$101,353

Total Monthly Obligation

$2,626/mo
Mortgage $1,895
Monthly Loss $2,127
Principal$499
Interest$1,397
Property Tax$355
Home Insurance$125
Variable Costs$250
Returns
Weight: 25%
Cap Rate
4.5%32
Cash-on-Cash
-1.5%5
5-Year IRR
14.5%68
10-Year IRR
14.3%
Returns Index
35.8/ 100
Growth Sentiment
Weight: 20%
%/yr
Score+50
%/yr
Score+50
%
%
Growth Index
50.0/ 100
GradeD
26/ 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
$33,288/yr
NOI
$21,193/yr
Net Cash Flow
-$129/mo
Cash Margin
-4.7%2
Cash Flow Index
1.9/ 100
Risk Profile
Weight: 20%
DSCR
0.9322
LTV Ratio
80.0%18
Vacancy Buffer
3.6 mo62
Risk Index
34.1/ 100

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

Comparables

Properties near 2 Erie Avenue

Time

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Data last updated within the past 24 hours.