$549,900 - 959 Prosperity Court, London East
Detached for Sale in London East
107 days on market- MLS Number
- X12772200
- Property Type
- Detached
- Status
- active
- Days on Site
- 107
- Bedrooms
- 6
- Bathrooms
- 2
- Square Feet
- 700 - 1,099 sqft
- Neighbourhood
- London East
- Listing Brokerage
- ROYAL LEPAGE TRILAND REALTY
Excellent turnkey student rental opportunity located just 500 metres from the main gates of Fanshawe College. This fully renovated bungalow offers strong income potential in one of Londons most reliable & high demand rental markets, with close proximity to public transit, grocery stores, restaurants, parks, & major amenities along Oxford Street East & Highbury Avenue. This property also presents an ideal investment for parents with children attending Fanshawe College, offering the ability to house students while offsetting ownership costs with rental income. The main floor offers 3 bedrooms, a bright & sun filled living & dining area, & a full four piece bathroom with updated tub surround & quartz topped vanity. Recent renovations include luxury vinyl plank flooring throughout the living room, dining area, kitchen, hallway & bathroom, with the bedrooms finished in laminate flooring. Freshly painted throughout, the updated kitchen features high gloss Ikea cabinetry, quartz counters, & stainless steel fridge & stove.The lower level has also been fully updated & provides three additional bedrooms, a spacious living room, a three piece bathroom, & laundry area, all finished with luxury vinyl plank flooring. Updated light fixtures throughout complete the modernized interior. The exterior offers a stamped concrete driveway & walkway with parking for four vehicles, & a spacious fully fenced backyard ideal for tenant use. Major updates include shingles replaced in 2018 & a new furnace in 2025. The property has not been occupied since renovations were completed, allowing a new owner to start fresh with selecting their own tenants. Prior to updates the home was consistently rented, with the most recent rent at $3200 per month. With the extensive upgrades already completed, the property presents excellent potential for increased rents, strong cash flow, & long term investment value in a proven student rental location just steps from Fanshawe College.
Estimate your monthly payments for this property
Estimated Payment
$2,821.27/mo
Includes CMHC insurance ($15,342)
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.
959 Prosperity Court, London East
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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 $786/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 107 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.
Efficient Living
At 700 sqft, this is a more compact space. The upside: lower utility bills, less maintenance, and easier cleaning. Consider how you'll use the space - built-in storage, multi-functional furniture, and good organization become important. Great for singles, couples, or those who prefer a low-maintenance lifestyle.
Excellent Flexibility
With 6 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.
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 $2,291 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.