MAIN & UPPER - 307 GREY STREET · Duplex

MAIN & UPPER - 307 GREY STREET is a 2-unit duplex in London, ON, asking $398,000 — $199,000 per door.

That sits below the London band of $210k - $360k per door. A price under the band usually means condition, location, or an in-place rent roll well below market — confirm which before treating it as a discount. London cap rates screen 4.5% - 5.8% against average rent near $1,900 a door.

At 2 units this finances as residential, not commercial — MLI Select starts at five units. The qualifying rate still applies: federally regulated lenders test a 1–4 unit rental at the greater of your contract rate plus two points or 5.25%.

London is useful for student and small-multifamily strategies, but management and licensing drive outcomes. Investor demand reads medium, vacancy balanced.