474 Cheapside St is a 2-bedroom, 2-bathroom duplex in London, listed for $659,900. It has 700-1100 sq ft of living space.
1CHARM, CHARACTER & Income potential!
2The upper unit rents for $2,200/month and the lower unit for $1,700/month.
3Extensive 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.
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.
2 bedrooms, 2 bathrooms, about 700 sq ft, works out to roughly $943 per square foot, the bed-to-bath ratio is generous. Chat with Zara if you'd like a deeper read on whether this duplex fits your budget and timing.
Inside 474 Cheapside St
Every detail from the listing, in one place.
Type
Duplex
Style
Bungalow
Living space
700-1100 sq ftas stated on the listing
Parking
4 spaces
Basement
Apartment, Separate Entrance
Features & systems
Parking & garage
Parking spaces
4
Interior
Basement
Apartment · Separate Entrance
Lot & land
Lot size (sqft)
0
Listing & possession
Property style
Bungalow
Property class
Duplex
474 Cheapside St Price & Sale History
Earlier listings of this property, list-price changes, and the most recent annual property tax on the listing.
For saleListedThis listingMLS® X13642796$659,900
Sourced from MLS®. Includes earlier listings of this property on record.
What's it worth?
How 474 Cheapside St Compares to the London Market
Zara compares it with recent sales of similar homes nearby. It's a guide, not an appraisal.
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Monthly cost
Enter a rate to see the monthly cost
An estimate, not a quote. Utilities and insurance are extra.
Affordability calculator
Estimated monthly payment
$3,242
/mo
based on the purchase price of $659,900
$131,980 cash
$527,920 financed
$444,647 total interest
Principal54%$527,920
Interest46%$444,647
20% down · 25-yr amortization · 5.50% rate. Principal & interest only — taxes, condo fees, and insurance not included.
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Figures are Summitly estimates for illustration only — not from TRREB or the MLS® feed, and not a mortgage approval, appraisal, or financial advice.
Rental income potential
Est. monthly rent
low–high
Gross yield
rent × 12 ÷ price
Cap rate (est.)
net of tax + fees
Summitly AI estimate for discussion only — not from TRREB or the MLS® feed, and not an appraisal or investment advice. Yield and cap rate are derived from the estimated rent versus the asking price.
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Mortgage financing is arranged through Mortgage Squad Advisors. Summitly is the technology platform that powers this site. Estimated values, AI insights, calculator results, and rental projections shown on this page are generated by Summitly and are not provided by, reviewed by, or sourced from TRREB, the MLS®, or the listing brokerage; they are not appraisals or opinions of value. The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by the Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The Coldwell Banker® name and logo are trademarks of Coldwell Banker Real Estate LLC.
Similar homes for sale nearby in London
Other 2–4 bed homes for sale in London around $660K.
Average days on market39Homes sold in about 39 days on average.
Sale-to-list ratio97.2%On average, homes sold below asking.
Active listings2,490Homes for sale here right now.
Median vs prior 90 days−1.7%Compared with Apr 26 – Jul 25, 2026: prices down.
Based on 1,748 sales from Jul 25 – Oct 23, 2026 (1,468 in the prior 90 days). Aggregate MLS® figures for closed sales; individual sold prices are shown only to signed-in members.
Questions About 474 Cheapside St
How much is 474 Cheapside St listed for?
474 Cheapside St is listed at $659,900 (MLS® X13642796). Summitly updates the price as soon as the MLS® record changes.
Is $659,900 a good price for 474 Cheapside St?
Summitly rates it Well Above Market: the asking price is 15% or more above Zara's estimate, an estimate built from recent sales in London. The rating is an automated opinion, not an appraisal; "What's it worth?" on this page shows how it is worked out. See Zara's estimate
Has the price of 474 Cheapside St changed?
No — 474 Cheapside St is still listed at its original asking price of $659,900.
How many bedrooms and bathrooms does 474 Cheapside St have?
474 Cheapside St has 2 bedrooms and 2 bathrooms, with about 700–1,100 square feet of living space. It is a duplex in London.
How much would the monthly mortgage be on 474 Cheapside St?
About $3,242 a month — principal and interest on $659,900 with 20% down ($131,980), a 25-year amortization and an assumed 5.5% interest rate. The mortgage calculator on this page lets you change the down payment, amortization and rate.
How does 474 Cheapside St compare with other homes in London?
Its asking price of $659,900 is about 18% above the median sold price in London over the last 90 days, $560,000, across 1,748 closed sales on the TRREB MLS®. A city median mixes every type and size of home, so the comparable sales on this page are the closer guide.
Has 474 Cheapside St been sold before?
Summitly has no earlier MLS® sale or lease of 474 Cheapside St on record from the last two years. Older records aren't shown under TRREB rules.
Where is 474 Cheapside St?
474 Cheapside St is in London, ON. Schools, transit, parks and shops nearby are under Location & lifestyle on this page.
How long has 474 Cheapside St been on the market?
79 days — 474 Cheapside St was listed on August 5, 2026.
What is the price per square foot of 474 Cheapside St?
About $600 to $943 per square foot: the asking price of $659,900 over the 700–1,100 sq ft the listing gives as its size range.
Does 474 Cheapside St have parking or a garage?
Yes — the listing gives 4 parking spaces.
Does 474 Cheapside St have a basement, and is it finished?
The listing describes the basement as: Apartment, Separate Entrance.
