$460,000 - 464-466 Third Street, London East
Detached for Sale in London East
46 days on market- MLS Number
- X13079030
- Property Type
- Detached
- Status
- active
- Days on Site
- 46
- Bedrooms
- 5
- Bathrooms
- 2
- Square Feet
- 2,000 - 2,499 sqft
- Neighbourhood
- London East
- Listing Brokerage
- BLUE FOREST REALTY INC.
Attention Investors, first-time home buyers and flippers - this is the kind of opportunity that doesn't come around often. Sitting on nearly half an acre in East London and zoned R5-3, this property is loaded with redevelopment potential. Whether you're looking to intensify, build, or hold for future growth, the zoning and oversized lot offer a wide range of possibilities. In the meantime, you're getting two homes for the price of one. The main residence features 3 bedrooms and a spacious family room with vaulted ceilings and 4-pc bath. Heated with a gas furnace. The second home offers electric baseboard heating 2 bedrooms, 3pc bath, a living room, dining area, and kitchen - perfect for rental income, multi-generational living, or added flexibility. This property also presents a great flip opportunity or an ideal option for a handy first-time buyer looking to break into the market and build equity. Located close to Fanshawe College, the Gibraltar Trade Centre, public transit, and major amenities. Plenty of on-site parking.
Estimate your monthly payments for this property
Estimated Payment
$2,360.04/mo
Includes CMHC insurance ($12,834)
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.
464-466 Third Street, London East
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 $230/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 46 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.
Let's See It Together
Photos only tell part of the story. During our showing, I'll point out things the camera doesn't capture: neighbourhood feel, natural light quality, traffic noise, and overall condition. I'll also share what comparable homes have sold for and help you craft a winning strategy if you decide to move forward.