$1,490,000 - 1988 RIVER Road, London East
Detached for Sale in London East
108 days on market- MLS Number
- X12551764
- Property Type
- Detached
- Status
- active
- Days on Site
- 108
- Bedrooms
- 5
- Bathrooms
- 3
- Square Feet
- 1,500 - 1,999 sqft
- Neighbourhood
- London East
- Lot Size
- 1 sqft
- Listing Brokerage
- HOMELIFE SUPERSTARS REAL ESTATE LIMITED
GI 1 (GENERAL INDUSTRIAL) ZONING. ENDLESS OPPORTUNITIES TO LIVE AND RUN YOUR OWN BUSINESS. FULLY RENOVATED WITH NEW WINDOWS, NEW SEPTIC TANK ( 6500 LITRES), 2 NEW KITCHENS, WITH BACKSPLASH, NEW LAMINATE FLOORING, CERAMIC TILES IN THE KITCHENS AND THE BATHROOMS, NEW UPDATED BATHROOMS, WOODEN STAIRS, FRESHLY PAINTED, TANKLESS WATER HEATER, NEW WASHER/ DRYER, PROPERTY INCLUDES 2 STOVES, 2 FRIDGES, NEW DISHWASHER, 2 BUILT-IN MICROWAVES WITH EXAUSTS, NEW GARAGE DOORS. DESIGNER LANDSCAPING, DECK, ABOVE GROUND POOL, COVERED PATIO, PORCH TO ENJOY THE GREENERY. CURRENTLY RENTED FOR $6500/MONTH.
Estimate your monthly payments for this property
Estimated Payment
$6,590.77/mo
5-yr fixed avg.
Rates shown are estimates based on typical Ontario 5-year fixed rates. Canadian mortgages use semi-annual compounding as required by law. CMHC insurance applies to purchases under $1.5M with less than 20% down. Estimated property tax uses an approximate 0.85% rate. Contact us for current rate options and pre-approval.
Discover London East
London East is a vibrant community in the Greater Toronto Area, offering excellent amenities, schools, and transportation options. This area is popular with families and professionals seeking a balanced lifestyle with access to urban conveniences and natural spaces.
Why Live in London East
- •Convenient location in London East
- •Access to local shops and dining
- •Good public transit connections
- •Community parks and green spaces
- •Well-maintained neighbourhoods
Nearby Schools
Transit & Commuting
- •MiWay bus routes throughout the area
- •GO Transit stations within driving distance
- •Easy highway access to 401/403/QEW
- •Walking distance to local amenities
Parks & Amenities
- •Local parks and recreational facilities
- •Community centres
- •Shopping plazas nearby
- •Restaurants and cafes
Lifestyle & Community
London East offers a wonderful quality of life with a mix of residential charm and urban convenience. Residents enjoy easy access to schools, parks, and shopping, making it an ideal location for families and professionals alike.
1988 RIVER Road, London East
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Rental income estimator & ROI calculator
Monthly Cash Flow Breakdown
Note: These are estimates only. Actual figures may vary based on market conditions, property condition, and other factors. Consult with a financial advisor for personalized advice.
Joe's Thoughts
Honest perspective from 30+ years of GTA real estate experience
Fair Market Value
At $993/sqft, this property is priced in line with current London East market conditions. The pricing suggests the seller has done their homework. We may have modest room for negotiation, typically 2-4% in today's market.
Negotiation Opportunity
At 108 days on site, this property has exceeded the typical selling timeline for London East. This creates leverage for buyers. The seller may be motivated by carrying costs, life circumstances, or previous deals falling through. I'd recommend a strategic offer below asking with terms that favour you.
Detached Home Advantages
Detached homes in London East are increasingly scarce and valuable. You'll have no shared walls, full control over renovations, and typically stronger appreciation. Consider the lot size and potential for future additions or basement apartment income. Detached homes also offer the most flexibility for growing families.
Excellent Flexibility
With 5 bedrooms, you have genuine flexibility. Beyond the master and kids' rooms, you can have a dedicated home office, guest room, hobby space, or even rental income potential. In today's work-from-home era, extra bedrooms add significant value. Properties with 5+ bedrooms are relatively rare in London East.
Bathroom Count Matters
With 3 bathrooms, morning routines are much smoother. Multiple bathrooms significantly improve daily livability and are a major selling point for resale. Buyers consistently pay more for adequate bathroom counts - this is a strong feature.
Investment Perspective
Looking at this as an investment: London East properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $6,208 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.