474 Cheapside St
East B, London East, Ontario N5Y 3X3
- Bedrooms
- 2+1
- Bathrooms
- 2
- Size
- 700–1,100sq ft
- Per sq ft
- $733at the range’s middle
- Lot
- 32.33 x 130 ft
- Tax a year
- $4,9912026 tax year
- Parking
- 4none
- Days on market
- Members
The brief
About 474 Cheapside St
474 Cheapside St is a 2+1-bedroom, 2-bathroom duplex in East B, London East, listed for sale at an asking price of $659,900 (MLS® X13642796).
CHARM, CHARACTER & INCOME POTENTIAL! This beautifully maintained Old North bungalow offers the perfect blend of timeless Craftsman character and modern functionality, with $3,900 in current monthly rental income ($46,800 annually). The upper unit rents for $2,200/month and the lower unit for $1,700/month. Both units have separate hydro meters, with tenants paying their own hydro. Original architectural details, including elegant millwork, decorative pillars separating the living and dining rooms, an original French door, and mosaic tile, preserve the home's historic appeal.Now registered and licensed as a legal duplex, this R1-4 zoned property features two self-contained units with separate hydro services, making it an exceptional opportunity for investors or owner-occupants looking to offset their mortgage with rental income. If a single-family home is preferred, the property can be easily converted back by reinstating the rear staircase. Extensive renovations completed in 2023 include the creation of a fully legal lower suite, updated mechanical systems, separate heating and cooling, ERV systems, and numerous capital improvements throughout. Located in the highly desirable Old North neighbourhood, the property is just minutes from Western University, St. Joseph's Hospital, downtown London, parks, schools, shopping, and transit. Whether you're looking for a turnkey income property, a mortgage helper, or a multi-generational living opportunity, this property offers outstanding flexibility in one of London's most sought-after communities. All measurements are approximate. See attachments for list of upgrades, and City of London Rental Licence.
Insights
Condition Score
Good78/1002 documented update signals
Source: Listing age, structured features and disclosed update language; not an inspection.
Cashflow Quality
Shortfall31/100−$977/mo against the cost of owning (20% down, 4.8%, 25 yrs)
Source: Median of 6 homes with 3 bedrooms for lease in East B right now. Cost of owning counts the mortgage and property tax.
Condition uses listing-record signals, not an inspection.
The home
Key facts
- Tax
- $4,991 / 2026
- MLS® number
- X13642796
- Board
- TRREB MLS®
- Property Type
- Duplex
- Days on market
- Size
- 700-1100 sqft
- Lot Size
- 32.33 x 130 ft
- Listed on
- Parking
- None, 4 Parking
Property details
Property
- Property Type
- Duplex
- Style
- Bungalow
- Community
- East B
- Municipality
- London East
Building
- Size
- 700-1100 sqft
- Construction
- Brick
Inside
- Bedrooms
- 2+1
- Bathrooms
- 2
- Bathroom Details
- 1 × 4pc Main, 1 × 3pc Lower
- Basement Type
- Apartment
- Kitchens
- 2
Parking
- Driveway
- Private
- Garage Type
- None
- Additional Parking
- 4
- Total Parking
- 4
Utilities
- Water
- Municipal
- Cooling
- Wall Unit
- Heating Type
- Baseboard
Land
- Sewer
- Sewers
- Frontage
- 32.33 ft
- Depth
- 130 ft
- Lot Size
- 32.33 x 130 ft
Additional
- Foundation
- Concrete Block
- Roof
- Shingles
- Fireplace
- Yes
- Pool
- None
- Den
- No
- Family room
- No
- Extras
- All appliances
Rooms
| Room | Size | Features | Level |
|---|---|---|---|
| Kitchen | 3.33 × 3.43 m | — | Main |
| Living | 3.33 × 4.55 m | — | Main |
| Dining | 3.33 × 3.53 m | — | Main |
| Primary | 2.74 × 5.21 m | — | Main |
| Br | 2.69 × 2.74 m | — | Main |
| Bathroom | 1.75 × 1.78 m | — | Main |
| Rec | 3.2 × 10.06 m | — | Lower |
| Kitchen | 2.77 × 4.27 m | — | Lower |
| Br | 2.74 × 4.3 m | — | Lower |
| Bathroom | 1.25 × 3.02 m | — | Lower |
| Utility | 1.47 × 3.35 m | — | Lower |
| Other | 1.65 × 3.23 m | W/I Closet | Lower |
Listing history
Buy/sell history for 474 Cheapside St, London East, Ontario
Sale history on this site covers the last 2 years, the window permitted under the TRREB MLS® VOW agreement.
| Date Start | Date End | List Price | Price | Event | Listing ID |
|---|---|---|---|---|---|
| Date StartN/A | N/A | $659,900 | N/A | For Sale | X13642796 |
Members see the full history. Prices are hidden from signed-out visitors.
The numbers
Mortgage Calculator
Plan with the current asking price
CMHC insurance: not required at 20% down. Payments use Canadian semi-annual compounding.
Mortgage Details
4.8% · 5-year term · 25-year amortization · 20% down
- Total down payment
- $131,980
- Total mortgage amount
- $527,920
- Total interest payment
- $375,380
- Total purchase cost
- $1,035,280
- Mortgage payment
- $3,011/mo
Cash Flow Analysis
If you rented this home out at 20% down
Break-even down payment
46%Monthly carrying cost
$3,427- Rent $2,450
- Shortfall $977
Rental income opens at $2,450, the median asking rent of 6 comparable homes for lease in East B. Type over it with the rent you expect. This is a planning tool, not advice.
Land transfer tax on this home
- Ontario land transfer tax
- $9,673
- Total land transfer tax
- $9,673
- First-time buyer rebates (Ontario up to $4,000)
- −$4,000
- Total for first-time buyers
- $5,673
See how this is worked out
- 0.5% on the first $55,000
- $275
- 1.0% from $55,000 to $250,000
- $1,950
- 1.5% from $250,000 to $400,000
- $2,250
- 2.0% from $400,000 to $659,900
- $5,198
- Ontario total
- $9,673
An estimate at the asking price, for a home with one or two single-family residences. Your lawyer confirms the exact amount.
Estimate
Estimated value requires sign in
Market estimates use sold comparables and are available after you sign in and accept MLS® VOW terms.
The estimate is an automated value built from public and MLS® data. It is not an appraisal; ask Kassaundra Dobson, Broker of Record for a full comparative market analysis.
Comparable sales
Comparable sales require sign in
Closing prices and sold comps are available to registered visitors who accept MLS® VOW terms on this site.
The land
Lot
- Lot area
- 4,203 sq ft390 m²
- Street frontage
- 32.33 ft9.9 m
- Depth
- 130 ft39.6 m
The area is the frontage multiplied by the depth, so boundaries are approximate. Confirm with a survey before you buy.
Source: the MLS® listing record, measured by MPAC.
Land and environment
Public records about this location. Not part of the MLS® listing and not provided by the listing brokerage.
Water and conservation2
- No mapped wetland within 120 m120 m
- No water-supply well recorded within 250 m2 test or monitoring holes also recorded.250 m
Province of Ontario open data
Planning and building activity2
- Outside the Greenbelt, Oak Ridges Moraine and Niagara Escarpment plan areasAt the address
- Nearest airport: 7.1 km7.1 km
Province of Ontario open data
Around the home1
- A trail on the Ontario trail network within 1 km1 km
Province of Ontario open data
Environmental records4
- No licensed pit or quarry within 2 km2 km
- No recorded oil, gas or salt well within 250 m250 m
- No facility within 1 km reports pollutant releases to Environment CanadaThe nearest is Corporation of the City of London — Adelaide Pollution Control Plant, 1.3 km away. Only facilities above the inventory’s reporting thresholds are listed.1 km
- No federal contaminated site within 1 kmThe federal inventory covers federal land only; it says nothing about provincial or private sites.1 km
Province of Ontario open data · Government of Canada open data
Power and internet3
- Electricity is distributed here by London Hydro Inc.At the address
- Wired internet 50/10 Mbps or faster is listed at this locationFixed wireless 50/10 Mbps or faster. LTE mobile coverage listed. ISED’s National Broadband Data at the nearest household point (20 m from the listing); 50/10 Mbps is its top category and includes faster plans. Confirm with a provider for this address.At the address
- Across the surrounding area: fibre to the home, cable, DSL internet listedFibre to the home: Bell, Rogers, Start Communications. Cable: Rogers. DSL: Bell. Fixed wireless: Bell, Execulink, Rogers, Xplore. Mobile: Bell, Freedom Mobile, Rogers, Telus. Satellite: Xplore. ISED’s list for the surrounding ~25 km² area; check with a provider for this address.Area-wide
Ontario Energy Board · Innovation, Science and Economic Development Canada
Each record is placed at the distance its own line states. None of it is an inspection of the property. Confirm anything that matters to you with the municipality, Upper Thames River Conservation Authorityor the record’s publisher.
Contains information licensed under the Open Government Licence – Canada. Contains information licensed under the Open Government Licence – Ontario.
The market
Multiplexes for sale in East B right now
- For sale now
- 5
- Median asking price
- $660K
- New in 7 days
- 1
- Price cuts
- 0%
Middle half: $610K to $1.05M
3 in 28 days
0 listings
This home is asking at the median.
See all homes in East BAsking prices and counts of the MLS® listings on this site as of today. Asking figures only, never sold or leased prices.
Market area · filters apply to the charts below
The street
Schools nearby
| Elementary | Type | Distance | EQAO average 2024–25 |
|---|---|---|---|
| St Michael Separate SchoolLondon District Catholic School Board | Catholic · grades JK–8 | 100 m | 82%Grade 6 average |
| Old North Public SchoolThames Valley DSB | Public · grades JK–8 | 550 m | 88%Grade 6 average |
| St Georges Public SchoolThames Valley DSB | Public · grades JK–8 | 800 m | 86%Grade 6 average |
| Académie de la TamiseConseil scolaire Viamonde | French-language public · grades JK–6 | 3.5 km | 92%Grade 6 average |
| Secondary | Type | Distance | Grade 9 math 2024–25 |
|---|---|---|---|
| École secondaire catholique Monseigneur-BruyèreConseil scolaire catholique Providence | French-language Catholic · grades 9–12 | 1.6 km | 57%Grade 9 math |
| London Central Secondary SchoolThames Valley DSB | Public · grades 9–12 · French Immersion | 1.8 km | 81%Grade 9 math |
| Catholic Central High SchoolLondon District Catholic School Board | Catholic · grades 9–12 | 2 km | 57%Grade 9 math |
| H B Beal Secondary SchoolThames Valley DSB | Public · grades 9–12 | 2.2 km | 56%Grade 9 math |
EQAO: share of students at or above the provincial standard, 2024–25 (Ontario open data). These are the schools nearest this home, not the schools it is assigned to: boundaries change, and some schools take students by application. Confirm with the board before you buy. Contains information licensed under the Open Government Licence – Ontario.
The verdict
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Sold prices in East B are shown to signed-in members.