283 Spruce Street, London East

$549,900
283 Spruce Street

$549,900

New
22d
DetachedBungalow

283 Spruce Street, London East

Total Monthly Obligation $2,888

Beds
3
Baths
2
Park
4
Sqft
1500-2000
DOM
22d
Score
22
Yield
5.7%
Cash on Cash
-0.0%
Cap Rate
4.6%
5Y IRR
15.5%
10Y IRR
14.6%
Property Type-Detached
MLS® Number-X13851770
Beds-3
Bathrooms-2
Size-1500-2000 sqft
Lot Size-63.25 × 209 ft
Listed on site-Oct 1, 2026
Style-Bungalow
Building Type-Detached
Age-51-99
Taxes-$3,537 (2025)
Parking-6 - Detached
Basement-Full
Heating-Forced Air (Gas)
Brokerage-CENTURY 21 FIRST CANADIAN CORP
Cooling-Central Air
Laundry-No
Fireplace-Living Room
Pool-Above Ground, Salt
Facing-North
Exterior-Aluminum Siding, Brick
Roof-Asphalt Shingle
Foundation-Poured Concrete
Sewer-Sewer
Possession-60-89 Days
Neighbourhood-East H
Title-Residential Freehold

No agent assigned

Steps from an elementary school and minutes from shopping, amenities, Fanshawe College and highway access, this 3-bedroom, 2-bathroom raised ranch offers the space, location and extras that are hard to find at this price. Step inside to a bright living room that flows into the dining area and kitchen, both overlooking the large, park-like backyard. Hardwood flooring runs throughout the main level, with three bedrooms and a 3-piece bathroom tucked away from the main living space. Downstairs, a huge rec room, second bathroom and additional rooms offer plenty of flexibility for a home office, playroom, guest space, hobby room or teen retreat. Outside, enjoy a large sundeck overlooking the above-ground saltwater pool and expansive backyard, perfect for summer BBQs, pool days and bonfires. The pool features a new liner from 2025 and new salt cell from 2026. A gas stove and gas BBQ hookup add even more convenience. The impressive 40' x 15' garage doubles as a heated workshop, while the driveway offers parking for four more vehicles/space that can accommodate an RV. With 3 bedrooms, 2 bathrooms, a huge rec room, park-like backyard, saltwater pool, loads of parking and a dream workshop - you simply won't find all of this for the price!

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$
$
(utilities, internet...)
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%
%

Closing Costs

Mortgage Amount
$439,920
Land Transfer Taxes$7,473
Legal Fees (Est.)
$
Total cash required for closing$118,953

Total Monthly Obligation

$2,888/mo
Mortgage $2,218
Monthly Loss $2,304
Principal$584
Interest$1,634
Property Tax$295
Home Insurance$125
Variable Costs$250
Returns
Weight: 25%
Cap Rate
3.6%23
Cash-on-Cash
-5.6%2
5-Year IRR
11.2%44
10-Year IRR
11.6%
Returns Index
23.2/ 100
Growth Sentiment
Weight: 20%
%/yr
Score+50
%/yr
Score+50
%
%
Growth Index
50.0/ 100
GradeD
22/ 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
$31,128/yr
NOI
$19,978/yr
Net Cash Flow
-$553/mo
Cash Margin
-21.3%0
Cash Flow Index
0.1/ 100
Risk Profile
Weight: 20%
DSCR
0.7512
LTV Ratio
80.0%18
Vacancy Buffer
3.3 mo56
Risk Index
28.8/ 100

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

Comparables

Properties near 283 Spruce Street

Time

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