a detached 838 sq. ft., 2-bedroom ADU, with plans available. Estimated construction cost is approximately $200, 000, and projected rent once completed is $1, 950 per month. The main house currently rents for $1, 950 per month. The heated and insulated 21’6″ x 26′ detached garage/shop has a separate hydro meter, electric heat, water, CCTV and security system. With projected rent of $1, 100 per month, it is ideal for a hobbyist, workshop or home-based business. Once the ADU is completed, projected gross rental income is approximately $5, 000 per month or $60, 000 annually. Based on the worksheet assumptions, annual positive cash flow is projected at $11, 262 before vacancy, maintenance and management. First-year principal reduction is projected at $14, 269, for a combined first-year benefit of approximately $25, 531. A full income, expense, cash-flow and mortgage-amortization projection worksheet is available. The renovated home offers two bedrooms, a laundry room, an oversized 5-piece bathroom with a custom double vanity, plus an updated kitchen with modern countertops and four stainless steel appliances. The original fireplace is a decorative focal point but is not in use. Improvements include a new furnace and heat-pump/air-conditioning system installed in 2023, upgraded electrical and plumbing, updated windows and lighting, luxury vinyl plank flooring, ceramic tile in 2017, and a metal roof in 2019. Enjoy a private fenced backyard and wood deck, minutes from downtown London, parks, trails, shopping, restaurants and transit. (id:62650)