511 Gainsborough Rd #327 is a 2-bedroom, 1-bathroom condo in London, listed for $224,500. It has 800-899 sq ft of living space.
1This unit is completely carpet free, with hard surface flooring throughout the main living areas and easy transitions between rooms for added convenience.
2The updated kitchen features freshly painted cabinetry, new hardware and a stylish backsplash.
3The purchase includes an exclusive underground storage locker and one surface level parking space.
Welcome to The Gainsborough, a unique 55+ life lease community offering comfortable, convenient and welcoming independent living. This bright and well-maintained 2 bedroom, 1 bathroom suite offers approximately 885 sq. ft. of comfortable living space and features a south-facing balcony and vaulted ceilings in the living/dining area, creating an open and airy feel. This unit is completely carpet free, with hard surface flooring throughout the main living areas and easy transitions between rooms for added convenience. The air conditioning was replaced in spring of 2026. The updated kitchen features freshly painted cabinetry, new hardware and a stylish backsplash. The bathroom offers a convenient tub/shower cutout designed to make entry and exit easier and provide added convenience. Residents of The Gainsborough enjoy an impressive selection of amenities designed to encourage an active, social and connected lifestyle, including a woodworking room, library, exercise room, billiards, ping pong, fireside lounge, hair salon, chapel, outdoor patios and comfortable seating. Enjoy the convenience of being within walking distance to Sherwood Forest Mall, The Aquatic Centre, nature and bike trails, with University Hospital also nearby. The purchase includes an exclusive underground storage locker and one surface level parking space. Underground parking is $50 a month and subject to availability. The Gainsborough is a 55+ community. Maximum 2 adults per unit. No pets and no rentals are permitted. Please note that life lease purchases are cash only, with no mortgage financing available. Seller is very motivated!
2 bedrooms, 1 bathroom, about 800 sq ft, works out to roughly $281 per square foot. Chat with Zara if you'd like a deeper read on whether this condo fits your budget and timing.
Inside 511 Gainsborough Rd #327
Every detail from the listing, in one place.
Type
Condo
Style
Apartment
Living space
800-899 sq ftas stated on the listing
Parking
1 spaceYes garage
Basement
None
Features & systems
Parking & garage
Garage
Yes
Parking spaces
1
Interior
Basement
None
Lot & land
Lot size (sqft)
0
Listing & possession
Property style
Apartment
Property class
Condo Apartment
511 Gainsborough Rd #327 Price & Sale History
Earlier listings of this property, list-price changes, and the most recent annual property tax on the listing.
Independent mortgage broker · OAC · rates subject to change and underwritingMortgage Squad →
Referral disclosure: Summitly may refer you to Mortgage Squad Advisors, an affiliated mortgage partner. You are free to choose any lender or mortgage professional.
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
$1,103
/mo
based on the purchase price of $224,500
$44,900 cash
$179,600 financed
$151,270 total interest
Principal54%$179,600
Interest46%$151,270
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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Similar homes for sale nearby in London
Other 2-bed homes for sale in London around $225K.
Average days on market39Homes sold in about 39 days on average.
Sale-to-list ratio97.2%On average, homes sold below asking.
Active listings2,388Homes for sale here right now.
Median vs prior 90 days−1.4%Compared with May 7 – Aug 5, 2026: prices down.
Based on 1,732 sales from Aug 5 – Nov 3, 2026 (1,514 in the prior 90 days). Aggregate MLS® figures for closed sales; individual sold prices are shown only to signed-in members.
More in this building
2 for sale at 511 Gainsborough Rd — plus its sale and lease history.
511 Gainsborough Rd #327 is listed at $224,500 (MLS® X13775544). Summitly updates the price as soon as the MLS® record changes.
Is $224,500 a good price for 511 Gainsborough Rd #327?
Summitly rates it Excellent Deal: the asking price is 10% or more below 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 511 Gainsborough Rd #327 changed?
Yes — it was first listed at $234,900 and is now $224,500, a drop of $10,400 (4.4%).
How many bedrooms and bathrooms does 511 Gainsborough Rd #327 have?
511 Gainsborough Rd #327 has 2 bedrooms and 1 bathroom, with about 800–899 square feet of living space. It is a condo in London.
How much would the monthly mortgage be on 511 Gainsborough Rd #327?
About $1,103 a month — principal and interest on $224,500 with 20% down ($44,900), 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 511 Gainsborough Rd #327 compare with other homes in London?
Its asking price of $224,500 is about 60% below the median sold price in London over the last 90 days, $561,250, across 1,732 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 511 Gainsborough Rd #327 been sold before?
Summitly has no earlier MLS® sale or lease of 511 Gainsborough Rd #327 on record from the last two years. Older records aren't shown under TRREB rules.
Where is 511 Gainsborough Rd #327?
511 Gainsborough Rd #327 is in London, ON. Schools, transit, parks and shops nearby are under Location & lifestyle on this page.
How long has 511 Gainsborough Rd #327 been on the market?
53 days — 511 Gainsborough Rd #327 was listed on September 11, 2026.
What is the price per square foot of 511 Gainsborough Rd #327?
About $250 to $281 per square foot: the asking price of $224,500 over the 800–899 sq ft the listing gives as its size range.
Does 511 Gainsborough Rd #327 have parking or a garage?
Yes — the listing gives 1 parking space. Garage: Yes.
Does 511 Gainsborough Rd #327 have a basement, and is it finished?
The listing says 511 Gainsborough Rd #327 has no basement.
