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Ryan Schinker

ryan@soldbyschinker.com +1(519) 807-8485

$ 575,000

Est. payment | -/mo

2 Beds

1 Bath

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$ 575,000

Est. payment | -/mo

Save Video Tour

2 Beds

1 Bath

Key Details

Property Type Single Family Home

Sub Type Detached

Listing Status Active

Purchase Type For Sale

Approx. Sqft 1100-1500

Subdivision South E

MLS Listing ID X13746210

Style Bungalow

Bedrooms 2

Annual Tax Amount $3,772

Tax Year 2025

Property Sub-Type Detached

Property Description

Attention investors, tradespeople, buyers working from home or anyone seeking a mortgage helper. Welcome to 4 Elmwood Place, an updated 2-bedroom bungalow in desirable Manor Park. The $575,000 asking price is for the property as it currently sits. The accessory dwelling unit has not been built, and its construction cost is additional. A building permit has been issued for a detached 838 sq. ft., 2-bedroom ADU, with plans available. Estimated construction cost is approximately $200,000, and projected rent once completed is $1,950 per month. The main house currently rents for $1,950 per month. The heated and insulated 21'6" x 26' detached garage/shop has a separate hydro meter, electric heat, water, CCTV and security system. With projected rent of $1,100 per month, it is ideal for a hobbyist, workshop or home-based business. Once the ADU is completed, projected gross rental income is approximately $5,000 per month or $60,000 annually. Based on the worksheet assumptions, annual positive cash flow is projected at $11,262 before vacancy, maintenance and management. First-year principal reduction is projected at $14,269, for a combined first-year benefit of approximately $25,531. A full income, expense, cash-flow and mortgage-amortization projection worksheet is available. The renovated home offers two bedrooms, a laundry room, an oversized 5-piece bathroom with a custom double vanity, plus an updated kitchen with modern countertops and four stainless steel appliances. The original fireplace is a decorative focal point but is not in use. Improvements include a new furnace and heat-pump/air-conditioning system installed in 2023, upgraded electrical and plumbing, updated windows and lighting, luxury vinyl plank flooring, ceramic tile in 2017, and a metal roof in 2019. Enjoy a private fenced backyard and wood deck, minutes from downtown London, parks, trails, shopping, restaurants and transit.

Location

State ON

County Middlesex

Area Middlesex

Rooms

Basement Full, Unfinished

Kitchen 1

Interior

Interior Features Carpet Free, Primary Bedroom - Main Floor, Separate Hydro Meter, Storage, Sump Pump, Upgraded Insulation, Water Heater Owned

Cooling Central Air

Inclusions DISHWASHER, REFRIGERATOR, STOVE, MICROWAVE, WASHER, DRYER, WATER HEATER OWNED GARAGE/SHOP: WALL MOUNTED FAN, SUSPENDED HEATER, CCTV CAMERA SYSTEM, ALARM SYSTEM, STEEL STORAGE CONTAINER

Exterior

Exterior Feature Deck, Privacy

Parking Features Detached

Garage Spaces 2.0

Pool None

Roof Type Metal

Total Parking Spaces 7

Building

Building Age 100+

Foundation Poured Concrete

Lited by CENTURY 21 FIRST CANADIAN CORP

Ryan Schinker

Agent

+1(519) 807-8485 | ryan@soldbyschinker.com

4 Elmwood PL London South, ON N6J 1J2

Ryan Schinker

Key Details

Location

Rooms

Interior

Exterior

Building

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4 Elmwood PL