Red Brick 2.5-Storey Home with Finished Basement in The Coves

Property details for 5 Cove Road, London South

Type: Residential
Bedrooms: 4
Bathrooms: 2
Lot Size: 35.6 x 70.8 FT ; Lot Size Irregular
Stories: 2.5
Basement: Finished, Full, Separate entrance, N/A, N/A
Parking: No Garage
Heating: Forced air, Natural gas
Cooling: Central air conditioning
Exterior: Brick
Ownership: Freehold
Annual Taxes: $3,437

It's a 2.5-storey red brick house with 4 beds and 2 baths. Photos show a block foundation and a fully fenced yard backing onto a wooded ravine. The lot's irregular at 35.6 by 70.8 feet. Inside, there's a fireplace, central air, and forced gas heat. Appliances include two refrigerators, a washer, and a dryer. The finished basement has a separate entrance, a kitchenette, and a 3-piece bath, plus a rec room, playroom, and family space. You get parking for three cars but no garage. It's in The Coves near Wortley Village, with walking trails and ponds. London Children's Museum is 0.7 km away, and Covent Garden Market is 1.4 km. Priced at $557,500, it's below the nearby median of $589,900. Taxes run $3,437 annually.

About 5 Cove Road, London South — Property Score

Hot Market Strong Investment Well Priced

Score: 70/100

Value

Priced 31.9% below area median of $818,690 based on 289 comparable properties nearby 100

Stable pricing - no price changes since original listing date 50

Size

4 bedrooms - 1 more than similarly priced 3-bedroom homes nearby 72

2 bathrooms - typical for similarly priced properties 60

2,520 sqft lot - a compact lot for the area 55

Location

$55K median household income - below the Canadian average of $70K 58

70% of residents hold postsecondary credentials - a highly educated neighbourhood 79

56% homeownership rate - a balanced mix of owners and renters 69

79% of residents commute under 30 minutes - excellent commuter accessibility 93

849/km² population density - a low-density residential area 65

Market

Just listed - area average is 76 days on market 100

+43.4% median price change over 1 month - rising prices in the area 100

24.4 months of housing supply - 244 active listings with 10 sold last month (buyer's market) 40

Features

3-car garage - area average is 4.6 spots 80

Finished, Full, Separate entrance, N/A, N/A basement - adds valuable living space 85

efficient gas forced air heating 80

Central air conditioning - whole-home cooling 90

No premium extras like pool, waterfront, or view 50

Investment

0.62% effective tax rate ($3,437/yr) - below the Canadian average of ~1% 81

41% renter population - moderate rental market 79

Quality

Condition

Listing

35 photos provided - consistent with area listings 92

6 of 7 key property details provided (86%) - comprehensive listing with excellent detail 86

* This property score is an approximate estimate based on publicly available data, nearby comparable listings, and automated analysis. Scores are for informational purposes only and should not be relied upon as professional appraisals or investment advice. Actual property values may vary. We recommend consulting a licensed real estate professional for accurate assessments.