$175K · 1 bed Condo Apartment · East G, London East

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About this home

Bright and affordable 1+den condo with stunning views at 501-583 Mornington Ave, London, ON. This spacious unit is an excellent option for first-time buyers, investors, or anyone looking for an affordable student home. Set in a quiet, clean, and well-managed building, it offers comfort, convenience, and strong value. The large private balcony showcases sweeping city views and is the perfect place to relax with a morning coffee or enjoy the sunset. Inside, the practical layout includes a generou…

Property details

MLS#

X13173560

Status

Buy Now

Property class

Residential Condo & Other

Beds

Baths

1 full, 0 half

Rooms

Kitchens

Size

600-699Exact finished sqft not on MLS feed (often MPAC-only on broker systems)

Basement

Full

Style

Apartment

Type

Condo Apartment

Year built

—Year built not on MLS feed (often MPAC-only on broker systems)

Occupancy: Vacant
Washrooms: 4 pc
Family room: No
Central vacuum: No
Ensuite laundry: No

Condo corp #: 890
Balcony: Terrace
Locker: Ensuite+Exclusive
Fees include: Heat Included, Hydro Included, Water Included, Common Elements Included, Parking Included, Building Insurance Included
Pets: Yes-with Restrictions

Garage: 1-car None
Garage spaces: 1
Parking: 1 total
Heating: Radiant
Heating fuel: Other
Cooling: Wall Unit(s)
Fireplaces: —
Waterfront: No
Exterior: Stucco (Plaster), Concrete Poured
Fronting on: —
Cross street: Mornington and Oxford
Stories: 5
Utilities: —
Laundry: Coin Operated, Common Area
Interior: Storage
Parking features: —

Annual costs

Monthly carrying costs, utilities, and closing cost estimates.

Pre-filled from listing✓ $174,999✓ $1,324 tax✓ Other✓ 600-699 ft²✓ Ontario· Listing facts below · Ontario averages for utilities — drag sliders to match your home

Monthly all-in

$2,440/mo

incl. closing costs (yr 1)

Annual total

$29,280

year 1

Mortgage only

$664/mo

principal + interest

Beyond mortgage

$1,195/mo

taxes, utilities, upkeep

Financing

Purchase price

Down payment20%$35,000

20%+ down — no CMHC premium

Mortgage rate3.00%

Amortization

Province

Government

Property tax (annual)from listing$110/mo

Utilities

Hydro / electricity$75/mo

≈ $0.07/ft² × ~650 ft² · ON avg ~$75/mo · assumes gas heat

Other$125/mo

Typical ON gas-heated home · ~$125/mo

Water / sewer$60/mo

ON municipal avg ~$60/mo

Internet / TV / phone$70/mo

ON internet/TV avg ~$70/mo

Maintenance & upkeep

Maintenance reserve1.0%$1,750/yr

1% of value/yr — standard reserve

Landscaping & snow$0/mo

Landscaping & snow removal · $0 default

Home insurance$100/mo

$100/mo default · adjust for your home

Security system$0/mo

Optional monitoring · $0 default

Condo / HOA fees (mo)$42/mo

From listing or typical fee

Closing costs (one-time, year 1)

Land transfer tax (ON)computed$1,475

Legal / lawyer fees

Home inspection

Title insurance

Moving costs

CMHC premiumNone (20%+ down)

Cost composition

Mortgage (P+I)27% $7,967/yr

Property taxes10% $2,799/yr

Utilities14% $3,960/yr

Insurance & security5% $1,600/yr

Maintenance6% $1,750/yr

Condo fees21% $6,104/yr

Closing costs17% $5,100/yr

Mortgage is 27% of your true cost of ownership. The other 73% surprises most first-time buyers.

Full breakdown

Mortgage & financing
Mortgage (P+I)	$7,967	$664/mo
Government & taxes
Property tax	$1,324	$110/mo
Land transfer tax(closing)	$1,475	$123/mo
Insurance & protection
Home insurance	$1,200	$100/mo
Title insurance(closing)	$400	$33/mo
Utilities
Hydro / electricity	$900	$75/mo
Other	$1,500	$125/mo
Water & sewer	$720	$60/mo
Internet / TV / phone	$840	$70/mo
Maintenance & upkeep
Maintenance reserve (1.0%)	$1,750	$146/mo
Condo fees
Condo / HOA fees	$6,104	$509/mo
Closing costs (one-time)
Legal / lawyer(closing)	$2,500	$208/mo
Home inspection(closing)	$600	$50/mo
Moving costs(closing)	$2,000	$167/mo
Total	$29,280	$2,440/mo

Listing facts below · Ontario averages for utilities — drag sliders to match your home. CMHC added to loan principal only — not double-counted in chart.

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Unit 501

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Property details

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Price movement & seller pressure

Sales History

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Annual costs