Homula Realty Brokerage
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5911 Dundas Street, Thames Centre, ON N0M 2M0

Commercial Retail
$2,900,000

High Profile, High Traffic intersection. ( traffic light controlled ) . Just east of London. Four bay garage, plus a 2 storey red brick home... Home to Red-Line Auto service and sales. Known for " Muscle Car Restorations " . Same ownership since 2003. Take over the business (equipment & shop & house) (name change required). .. 1.43 Acre Site. Prime re-development Commercial Corner. Over 430 feet fronting on 2 major roads. Take the Preview Video... Call for the Information Package... Call the Listing Broker for an On-site Inspection and let's talk about your plan...

MLS number
X13715562
Type
Commercial Retail
Status
Active
Bedrooms
Bathrooms
Postal code
N0M 2M0
Photos
13
Property tax
$3,247 / year
16days · this listing
16days · this property

This property has not been relisted in the last two years, so both counts are the same. Where they differ, the second adds up earlier listings at this address that ended without a sale.

Listing history

No previous listings found for this address.

Where this home is

Where this address sits, matched against open government data.

Approximate — placed from the postal code, which can cover a block or more.

H-Value

our estimate of this home is for registered usersWhat comparable homes nearby actually sold for, worked into an estimate for this one — with the range it sits in and how far the method has been off in testing.Create a free accountAlready have one? Sign in.

This neighbourhood

Statistics Canada 2021 Census, for the surrounding few blocks — about 1,306 people.

$122,000Median household income
93.5%Own their home
76.8%Detached houses
38.4Median age
9.1%Born outside Canada
25.9%University degree

The neighbourhood, by the census

Statistics Canada 2021 Census for dissemination area 35390883 — the few blocks around this address, home to 1,306 people. It describes the area, not this property.

1,306Population
38Average age
2.7Household size
$129,500Average household income
$122,000Median household income
94%Own their home
7%Rent
5%Condominiums
9%Born outside Canada
26%University degree
$752,000Average home value
3%Low income
44%Not in the labour force
18%Never married
$20,000 to $24,9991%
$25,000 to $29,9991%
$30,000 to $34,9991%
$35,000 to $39,9991%
$45,000 to $49,9991%
$50,000 to $59,9992%
$60,000 to $69,9994%
$70,000 to $79,9995%
$80,000 to $89,9993%
$90,000 to $99,9993%
$100,000 and over40%
$100,000 to $124,99910%
$125,000 to $149,9997%
$150,000 to $199,99914%
$200,000 and over8%

Percentages are of the 770 responses in this category. Statistics Canada rounds counts and withholds small ones to keep individuals unidentifiable, so categories with too few people to publish are absent rather than shown as zero.

Source: Statistics Canada, 2021 Census of Population. Contains information licensed under the Open Government Licence – Canada.

Work out the numbers

Everything below is calculated in your browser from figures you can change. Nothing is sent anywhere.

$580,000 · minimum here is $580,000
$12,840.57per month
Borrowed before insurance$2,320,000
Total borrowed$2,320,000
Interest over 25 years at 4.5%$1,532,172

If you rented it out

Monthly rent starts from a rule of thumb — two per cent of the asking price a year — because no comparable lease was found nearby. Change it to anything you like.

-$8,278.16per month out of pocket
Rent$4,833.00
Everything it costs to hold$13,111.16
How this is calculated, and what it leaves out

Canadian fixed-rate mortgages compound semi-annually, not monthly, so the monthly rate here is (1 + rate/2)1/6 − 1. Most calculators use rate ÷ 12, which is the American convention and overstates the payment by tens of dollars a month.

Below 20% down, default insurance is mandatory and is added to the loan rather than paid at closing: 2.80% at 85% loan-to-value, 3.10% at 90%, 4.00% at 95%. It is unavailable at or above $1.5M, which is why 20% is a hard floor there.

Not included: vacancy, property management, capital repairs, income tax, and the fact that a lender qualifies you at a stress-test rate rather than the one you are quoted. This is arithmetic on the numbers above, not a mortgage approval or an opinion of what you can afford.

Listed by RE/MAX CENTRE CITY REALTY INC.. Listing data provided by the Toronto Regional Real Estate Board.