56 Forbes Street, London South

Price: $489,900

3 bedrooms, 2 bathrooms

1,100 - 1,499 sqft

Property Type: Detached

MLS#: X13456236

Welcome to 56 Forbes Street! Located on a quiet dead-end street in the heart of London, this home is an excellent opportunity for first-time buyers and investors.This move-in ready and affordable home features 3 bedrooms, 1.5 bathrooms, a partially finished basement with a separate entrance, and a fully-fenced backyard. The main floor offers a functional kitchen with ample storage, a bright living and dining area with original hardwood floors, two generously sized bedrooms, and a 4-piece bathroom. Upstairs, you'll find a spacious third bedroom with a large dressing area with built in storage cabinets.The lower level is mostly finished and includes a large open family room for lots of extra living space, a powder room, and plenty of storage. Outside, the fully fenced backyard has a large patio area, a large garden shed, and convenient direct access to the basement. Located within close proximity to lots of amenities, bus routes, parks, and playgrounds. Recent Updates Include: Furnace (2023), Main Floor Bedroom Windows (2022).

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active
New Listing
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$489,900 - 56 Forbes Street, London South

Detached for Sale in London South

New — Listed 2 days ago
3Beds
2Baths
1,100 - 1,499Sq Ft
Detached
Property Details
MLS Number
X13456236
Property Type
Detached
Status
active
Days on Site
2
Bedrooms
3
Bathrooms
2
Square Feet
1,100 - 1,499 sqft
Neighbourhood
London South
Listing Brokerage
KELLER WILLIAMS LIFESTYLES
Description

Welcome to 56 Forbes Street! Located on a quiet dead-end street in the heart of London, this home is an excellent opportunity for first-time buyers and investors.This move-in ready and affordable home features 3 bedrooms, 1.5 bathrooms, a partially finished basement with a separate entrance, and a fully-fenced backyard. The main floor offers a functional kitchen with ample storage, a bright living and dining area with original hardwood floors, two generously sized bedrooms, and a 4-piece bathroom. Upstairs, you'll find a spacious third bedroom with a large dressing area with built in storage cabinets.The lower level is mostly finished and includes a large open family room for lots of extra living space, a powder room, and plenty of storage. Outside, the fully fenced backyard has a large patio area, a large garden shed, and convenient direct access to the basement. Located within close proximity to lots of amenities, bus routes, parks, and playgrounds. Recent Updates Include: Furnace (2023), Main Floor Bedroom Windows (2022).

Mortgage Calculator

Estimate your monthly payments for this property

Estimated Payment

$2,513.44/mo

Includes CMHC insurance ($13,668)

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5-yr fixed avg.

Principal: $440,910Interest: $299,454
Mortgage Amount$454,578
Total Interest$299,454
Est. Property Tax$347/mo
Total Cost$754,032

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.

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Neighbourhood Guide: London South

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

Local Elementary SchoolPublic Elementary
Local Secondary SchoolPublic High School

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.

70
Walk Score
Varies
Price Range

56 Forbes Street, London South

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Investor Analysis

Rental income estimator & ROI calculator

Estimated Monthly Rent
$2,800/mo
Range: $2,380 - $3,220
Cap Rate (ROI)
5.8%
Good

Monthly Cash Flow Breakdown

Rental Income+$2,800
Maintenance Fees-$0
Property Tax (est.)-$347
Insurance (est.)-$102
Net Cash Flow+$2,351

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 Battaglia - Top Real Estate Agent in Mississauga, REMAX Realty Specialists

Joe's Thoughts

Honest perspective from 30+ years of GTA real estate experience

Competitive Pricing

At $445/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.

Just Listed - Act Strategically

This property hit the market within the last week. In London South's current market, desirable homes often receive multiple offers within 5-7 days. If you're seriously interested, I recommend booking a showing immediately. However, never let urgency override due diligence - we'll still do proper inspections.

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.

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.

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    56 Forbes Street, London South | $489,900 | Battaglia Team