511 Admiral Drive 61, London East

$389,900
511 Admiral Drive 61

$389,900

New
24d
Condo Townhouse2-Storey

511 Admiral Drive 61, London East

Total Monthly Obligation $2,286

Beds
3
Baths
2
Park
1
Sqft
1200-1399
DOM
24d
Score
27
Yield
7.4%
Cash on Cash
4.1%
Cap Rate
5.5%
5Y IRR
18.9%
10Y IRR
17.3%
Property Type-Condo Townhouse
MLS® Number-X13840366
Beds-3
Bathrooms-2
Size-1200-1399 sqft
Listed on site-Sep 29, 2026
Style-2-Storey
Building Type-Condo Townhouse
Taxes-$2,246 (2025)
Maintenance-$326/mo
Locker-None
Parking-1 - None
Basement-Partially Finished, Full
Heating-Forced Air (Gas)
Brokerage-RE/MAX CENTRE CITY REALTY INC
Cooling-Central Air
Laundry-Yes
Fireplace-No
Pool-None
Exterior-Brick
Possession-1-29 days
Neighbourhood-East I
Title-Residential Condo & Other

No agent assigned

Welcome to Unit 61 at 511 Admiral Drive, a well-cared-for 3-bedroom, 1.5-bath condo-townhouse offering three finished levels and a location that could be especially appealing to busy professionals, frequent travellers, commuters, families, and anyone looking for the convenience of low-maintenance living. Tucked toward the back of this mature, well-kept complex, the main floor features a bright living room, a dedicated dining area, and a functional kitchen with quartz countertops and a reverse-osmosis drinking-water tap. Upstairs are three bedrooms and a full 4-piece bathroom, providing plenty of flexibility for a family, guests or a home office. The finished lower level adds a spacious recreation room, laundry area and additional storage, while the private rear deck provides a comfortable outdoor space to relax or enjoy the warmer months. Ample visitor parking is conveniently located nearby, and additional features include central air and an alarm system. The home has also been pet-free and smoke-free. Location is one of the standout advantages here. Situated just off Veterans Memorial Parkway, the property offers convenient access to Highway 401 and London International Airport, making it an attractive home base for those who travel regularly, commute for work or simply value being well connected to the city and beyond. Shopping, transit and everyday amenities are also within convenient reach. Whether you're a first-time buyer, a family looking for three bedrooms and additional finished living space, a downsizer wanting less exterior maintenance, or a frequent traveller looking for a comfortable lock-and-leave home base, Unit 61 offers a combination of space, convenience and location that's worth a closer look.

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(utilities, internet...)
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%
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Closing Costs

Mortgage Amount
$311,920
Land Transfer Taxes$4,324
Legal Fees (Est.)
$
Total cash required for closing$83,804

Total Monthly Obligation

$2,286/mo
Mortgage $1,573
Monthly Loss $1,872
Principal$414
Interest$1,159
Property Tax$187
Condo Fees$326
Home Insurance$50
Variable Costs$150
Returns
Weight: 25%
Cap Rate
4.5%32
Cash-on-Cash
-1.6%5
5-Year IRR
14.5%68
10-Year IRR
14.3%
Returns Index
35.6/ 100
Growth Sentiment
Weight: 20%
%/yr
Score+50
%/yr
Score+50
%
%
Growth Index
50.0/ 100
GradeD
27/ 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
$28,944/yr
NOI
$17,492/yr
Net Cash Flow
-$115/mo
Cash Margin
-4.8%2
Cash Flow Index
1.9/ 100
Risk Profile
Weight: 20%
DSCR
0.9322
LTV Ratio
80.0%18
Vacancy Buffer
4.2 mo72
Risk Index
37.1/ 100

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

Comparables

Properties near 511 Admiral Drive 61

Time

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Data last updated within the past 24 hours.