Charming All-Brick Ontario Cottage on a Rare 331-Ft-Deep Lot in the Heart of Old East Village! Welcome to 550 Elizabeth Street, a lovingly maintained 2-bedroom bungalow brimming with character and thoughtfully updated over the years. As you walk in, you'll appreciate the timeless charm of this all-brick Ontario cottage with hardwood floors throughout & soaring 11' high ceilings, original baseboards and trim, and beautiful oversized windows that fill the home with natural light. The inviting living room centres around a cozy gas fireplace, perfect for relaxed evenings, and flows into the kitchen and dining room. The kitchen offers the added convenience of in-suite laundry, while a practical mudroom off the driveway makes coming and going a breeze on rainy and snowy days. The primary bedroom features its own private 2-piece ensuite, and a full 3-piece bathroom serves the rest of the home. Outside is where this property truly stands apart: an expansive 45 x 331 ft lot offering exceptional potential for an auxiliary dwelling unit (ADU), garden suite, workshop, or simply a spectacular backyard retreat, along with a large 3-4 car driveway providing easy access to the yard. Major updates provide genuine peace of mind: lifetime metal roof (2019), updated electrical with 100A breaker panel and wiring (2018/19), spray foam insulation in basement (~2021), attic insulation (~2017) windows (2014/15), main water line (~2016), sewage cleanout (~2015), and an owned water heater. All this in one of London's most vibrant and fast growing neighbourhoods, just steps to 100 Kellogg Lane, the Western Fair District and Farmers' Market, Lorne Ave Park, and the independent shops, cafes, and restaurants along Dundas Street. Whether you're a first time buyer, downsizer, or investor eyeing the lot's future potential, 550 Elizabeth Street delivers character, convenience, and opportunity in equal measure.
2 bedrooms, 1 bathroom, about 1,100 sq ft, works out to roughly $409 per square foot. Chat with Zara if you'd like a deeper read on whether this detached fits your budget and timing.
Inside 550 Elizabeth St
Every detail from the listing, in one place.
Type
Detached
Style
Bungalow
Living space
1100-1500 sq ftas stated on the listing
Parking
3 spaces
Basement
Partial Basement
Features & systems
Parking & garage
Parking spaces
3
Interior
Basement
Partial Basement
Lot & land
Lot size (sqft)
0
Listing & possession
Property style
Bungalow
Property class
Detached
550 Elizabeth St 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
$2,210
/mo
based on the purchase price of $449,900
$89,980 cash
$359,920 financed
$303,147 total interest
Principal54%$359,920
Interest46%$303,147
20% down · 25-yr amortization · 5.50% rate. Principal & interest only — taxes, condo fees, and insurance not included.
Want rate-drop alerts and a saved shortlist?
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.
For homeowners nearby
Own a home on Elizabeth Street? See what yours is worth
Get an instant estimate for your own home, based on recent sales around you. A free account shows the number and emails you the full report.
Free · No obligation · Backed by Coldwell Banker
Book a tour of 550 Elizabeth St with a licensed buyer's agent
Your agent is usually paid from the seller's side. We'll confirm the co-operating commission on this listing before you sign anything.
Zara, any time
Zara · AI virtual agent
Ask about 550 Elizabeth St day or night. Zara reads this listing and answers in plain words. When you want a person, she hands you to a licensed agent.
A licensed local agent
Your agent shows you the home, checks the paperwork and negotiates your offer, on your side, not the seller's.
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 $450K.
Average days on market39Homes sold in about 39 days on average.
Sale-to-list ratio97.2%On average, homes sold below asking.
Active listings2,497Homes for sale here right now.
Median vs prior 90 days−1.9%Compared with Apr 29 – Jul 28, 2026: prices down.
Based on 1,814 sales from Jul 28 – Oct 26, 2026 (1,476 in the prior 90 days). Aggregate MLS® figures for closed sales; individual sold prices are shown only to signed-in members.
Questions About 550 Elizabeth St
How much is 550 Elizabeth St listed for?
550 Elizabeth St is listed at $449,900 (MLS® X13768552). Summitly updates the price as soon as the MLS® record changes.
Is $449,900 a good price for 550 Elizabeth St?
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 550 Elizabeth St changed?
Yes — it was first listed at $465,000 and is now $449,900, a drop of $15,100 (3.2%).
How many bedrooms and bathrooms does 550 Elizabeth St have?
550 Elizabeth St has 2 bedrooms and 1 bathroom, with about 1,100–1,500 square feet of living space. It is a detached home in London.
How much would the monthly mortgage be on 550 Elizabeth St?
About $2,210 a month — principal and interest on $449,900 with 20% down ($89,980), 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 550 Elizabeth St compare with other homes in London?
Its asking price of $449,900 is about 20% below the median sold price in London over the last 90 days, $558,950, across 1,814 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 550 Elizabeth St been sold before?
Summitly has no earlier MLS® sale or lease of 550 Elizabeth St on record from the last two years. Older records aren't shown under TRREB rules.
Where is 550 Elizabeth St?
550 Elizabeth St is in London, ON. Schools, transit, parks and shops nearby are under Location & lifestyle on this page.
How long has 550 Elizabeth St been on the market?
47 days — 550 Elizabeth St was listed on September 9, 2026.
What is the price per square foot of 550 Elizabeth St?
About $300 to $409 per square foot: the asking price of $449,900 over the 1,100–1,500 sq ft the listing gives as its size range.
Does 550 Elizabeth St have parking or a garage?
Yes — the listing gives 3 parking spaces.
Does 550 Elizabeth St have a basement, and is it finished?
The listing describes the basement as: Partial Basement.
