244 West Street, Central Elgin

$474,000
244 West Street

$474,000

Price Change
79d
DetachedBungalow

244 West Street, Central Elgin

Total Monthly Obligation $2,561

HausQ Valuation Report
Beds
2
Baths
1
Park
3
Sqft
700-1100
DOM
79d
Score
20
Yield
5.3%
Cash on Cash
-2.3%
Cap Rate
4.1%
5Y IRR
13.8%
10Y IRR
13.2%
Property Type-Detached
MLS® Number-X13641044
Beds-2
Bathrooms-1
Size-700-1100 sqft
Lot Size-66 × 165 ft
Listed on site-Aug 5, 2026
Style-Bungalow
Building Type-Detached
Age-100+
Taxes-$3,283 (2025)
Parking-4 - Detached
Basement-Unfinished
Heating-Forced Air (Other)
Brokerage-ROYAL LEPAGE TRILAND REALTY
Cooling-Central Air
Laundry-No
Fireplace-No
Pool-None
Facing-West
Exterior-Stone
Roof-Asphalt Shingle
Foundation-Concrete Block
Sewer-Sewer
Possession-Flexible
Neighbourhood-Belmont
Title-Residential Freehold

No agent assigned

Welcome home to this charming, move-in ready bungalow in the heart of the growing community of Belmont! Perfect for first-time buyers, downsizers, or anyone looking for a beautifully updated home, this 2-bedroom, 1-bath gem is packed with value and peace of mind.Enjoy numerous major upgrades, including new windows (2016), an updated bathroom (2018), a durable steel roof (2020), furnace and central air (2020), and an owned hot water tank-making this home as practical as it is inviting.Step outside to a spacious lot with plenty of room to garden, entertain, or simply relax. The property also features a single detached garage plus an additional storage shed for all your tools and outdoor equipment.The home comes complete with all major appliances, including the fridge, stove, dishwasher, washer, and dryer, making your move even easier.Location is everything! You'll love being within walking distance of the new school, grocery store, parks, and everyday amenities, while enjoying the welcoming small-town atmosphere Belmont is known for. Minutes to Highway 401, London, and St. Thomas, this home offers the perfect blend of small-town charm and commuter convenience. With its ideal combination of updates, location, and value, this is an opportunity you won't want to miss!

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Closing Costs

Mortgage Amount
$379,200
Land Transfer Taxes$5,955
Legal Fees (Est.)
$
Total cash required for closing$102,255

Total Monthly Obligation

$2,561/mo
Mortgage $1,912
Monthly Loss $2,057
Principal$503
Interest$1,409
Property Tax$274
Home Insurance$125
Variable Costs$250
Returns
Weight: 25%
Cap Rate
3.1%19
Cash-on-Cash
-8.1%1
5-Year IRR
9.3%31
10-Year IRR
10.1%
Returns Index
16.5/ 100
Growth Sentiment
Weight: 20%
%/yr
Score+50
%/yr
Score+50
%
%
Growth Index
50.0/ 100
GradeD
20/ 100
Avoid•Pass

Strategy: Buy & Hold — Weights: CFI 35% · RI 25%
RKI 20% · GI 20%

Assumptions & Inputs
$/mo
%
$
yr
%
Cash Flow
Weight: 35%
Gross Rent
$24,948/yr
NOI
$14,670/yr
Net Cash Flow
-$689/mo
Cash Margin
-33.2%0
Cash Flow Index
0.0/ 100
Risk Profile
Weight: 20%
DSCR
0.648
LTV Ratio
80.0%18
Vacancy Buffer
3.8 mo65
Risk Index
30.3/ 100

*This analysis is independently generated NOT provided by TREB or CREA.

Comparables

Properties near 244 West Street

Time

Comparables are calculated within a 3km radius based on properties sold or leased within the past 6 months. This helps you understand the current market value and potential rental yield with high precision.

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Data last updated within the past 24 hours.