LiveMLS X14014374Buy & hold

13 SPRINGBANK DRIVE · Duplex

London, ON · Duplex · 2 units

$375,000listed

Price at 5.75% cap

London market brief →

RentCapPrice/door

Score

DSCR

Cash to close

All-in with reserves

Create a free account Sign inGoes to the AssetAvenue team. We reply by email, usually within a business day.View on Realtor.caLast seen on Realtor.ca Oct 21

What this listing is

13 SPRINGBANK DRIVE is a 2-unit duplex in London, ON, asking $375,000 — $187,500 per door.

That sits below the London band of $210k - $360k per door. London cap rates screen 4.5% - 5.8% and average rent runs about $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%.

The London desk underwrites vacancy at 3.5% - 5% and operating expenses at 34% - 44% of gross rent.

Asking price: $375,000
Units: 2 units
Property type: Duplex
Location: London, ON
Price per door: $187,500
London cap band: 4.5% - 5.8%
London average rent: $1,900

The underwrite — investment score, cap rate on the real rent roll, DSCR at the qualifying rate, cash to close, and the price at a 5.75% cap — opens with a free account.

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