$557,500 - 5 Cove Road, London South
Detached for Sale in London South
59 days on market- MLS Number
- X13026598
- Property Type
- Detached
- Status
- active
- Days on Site
- 59
- Bedrooms
- 4
- Bathrooms
- 2
- Square Feet
- 1,500 - 1,999 sqft
- Neighbourhood
- London South
- Listing Brokerage
- KELLER WILLIAMS LIFESTYLES
Welcome to The Coves, one of London's best kept secrets and a neighbourhood people truly fall in love with. Known for its environmentally significant green space, winding walking trails, and peaceful ponds, it offers a rare chance to be surrounded by nature while still being right in the city. It's the kind of place where you can head out for a walk and forget you're in London.This charming 2.5 storey red brick home offers plenty of space for a growing or busy family, with generous bedrooms, parking for three vehicles, and a low maintenance yard. Just a short walk to Wortley Village, you'll enjoy local shops, restaurants, and a vibrant community atmosphere right at your doorstep.The neighbourhood itself is something special, with a friendly, close-knit feel and even organized street gatherings that bring neighbours together.The basement features a separate entrance, kitchenette and 3-piece bath, making it an ideal retreat for a teenager or young adult looking for their own space while still being close to home.If you've been looking for character, space, and a location that offers both lifestyle and convenience, this is one you'll want to see.
Estimate your monthly payments for this property
Estimated Payment
$2,860.26/mo
Includes CMHC insurance ($15,554)
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.
5 Cove Road, London South
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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 $372/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 59 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.
Family-Friendly Layout
4 bedrooms hits the sweet spot for most families. You'll have room for 2-3 children plus a home office or guest room. This is the most sought-after configuration for families relocating to London South. Good resale value as demand remains consistent.
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 $2,323 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.
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.