$679,900 - 362 Ridout Street, London South
Detached for Sale in London South
49 days on market- MLS Number
- X13059340
- Property Type
- Detached
- Status
- active
- Days on Site
- 49
- Bedrooms
- 3
- Bathrooms
- 3
- Square Feet
- 1,100 - 1,499 sqft
- Neighbourhood
- London South
- Listing Brokerage
- THE REALTY FIRM INC.
Welcome to Old South living in one of London's most sought-after neighbourhoods. Located in the desirable Mountsfield School District and just a short walk to both Mountsfield Public School and South Collegiate, this charming 3-bedroom, 3 full bathroom home offers the perfect blend of character, function, and thoughtful updates.Inside, you'll find a bright, inviting layout with plenty of natural daylight, an open kitchen and dining area with quartz countertops, updated appliances, a cozy gas fireplace in the living room, main floor laundry, and the rare bonus of a main floor primary bedroom. Important updates include furnace and central air (2023), new exterior doors, updated bay window, new concrete driveway, sump pump, new eavestroughs and downspouts on both the house and garage, plus gutter guards on the house. Zebra blinds have also been added to most windows.The finished lower level offers excellent flexibility with a spacious rec room/living area, large craft room, workshop, utility space, and a separate side entrance that may offer future potential for additional living space or in-law suite possibilities.Outside, enjoy a huge fenced rear yard with endless landscaping potential, detached garage, ample parking, gas BBQ hookup, and both front and rear patio stone porches for relaxing or entertaining. All of this just a 10-minute walk to the shops, restaurants, and charm of Wortley Village, consistently recognized as one of Canada's great neighbourhoods.
Estimate your monthly payments for this property
Estimated Payment
$3,488.24/mo
Includes CMHC insurance ($18,969)
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 South
London South 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 South
- •Convenient location in London South
- •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 South 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.
362 Ridout Street, London South
Open in Google MapsUse the map controls to zoom, pan, and switch between map and satellite views. Drag to explore the neighbourhood.
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
Competitive Pricing
At $618/sqft, this is priced below the area average. This could represent genuine value, but let's investigate why. In my experience, underpriced homes often have deferred maintenance, unfavourable layouts, or motivated sellers. I'll help you determine which it is.
Negotiation Opportunity
At 49 days on site, this property has exceeded the typical selling timeline for London South. 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 South 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.
Starter Home Potential
3 bedrooms works well for couples planning families or small families with one child. Consider whether you might outgrow the space in 5-7 years. If so, factor in potential moving costs when making your decision. Alternatively, some buyers convert a bedroom to an office and make it work long-term.
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 South properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $2,833 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.