$1,600,000

For sale

371 Royal York Road, Toronto (Mimico) - Single Family for Sale

371 Royal York Road, Toronto (Mimico), Ontario, M8Y2R1

5 beds2 baths1 parking900 ft²34 × 168 ft (5,628 sq ft) lot sizeListed 19 days ago

Overview

This 5-bedroom, 2-bathroom home in Toronto is for sale offering roughly 900 sq ft of space. It has been on the market 19 days, fresher than the Toronto average of 56 days.

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Description

Attention Builders, Renovators & Investors! Exceptional opportunity on a premium 33.45 x 168 ft lot (approx. 6400 sq. ft) along Royal York Road in Etobicoke. CR3 zoning may offer potential for various uses, subject to applicable municipal approvals and buyer verification. Property is being sold AS IS, WHERE IS, without representations or warranties by the Seller Or Listing Brokerage regarding the property's condition, systems, zoning, permitted uses, or redevelopment potential, to the extent permitted by law. Buyers and their representatives are advised to conduct their own independent due diligence and verify all information, measurements, zoning, pe3rmitted uses, and development potential with the appropriate authorities. Conveniently located near TTC, Mimico GO Station, major highways, parks, schools, lakeside trails, shops, and restaurants. An opportunity for builders and investors to explore the potential of this Etobicoke property. (id:66096)

Property Details

MLS®: W14085502
Property Type: Single Family
Zoning: CR3
Bedrooms: 5
Beds (above / below): 3 above · 2 below
Bathrooms: 2
Parking: 1
Interior Size: 900 ft²
Lot Size: 34 × 168 ft (5,628 sq ft)
Frontage: 34 ft
Storeys: 1
Style: Bungalow
Basement: Apartment in basement, N/A
Heating: Forced air, Natural gas
Cooling: Central air conditioning
Garage: Attached Garage, Garage
Ownership: Freehold
Property Tax

Features

Appliances: Water Heater
Exterior: Brick

Services

Water: Municipal water
Sewer: Sanitary sewer

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

19d

Toronto (Mimico) listings, avg age

56d

Price / ft²

$1,778

List price

$1.60M

Homes here sell faster than most markets

Sold homes in this market spent an average of 33 days on the market over the past year, against a median of 48 days across the markets we publish.

Homes here sell below asking price

Homes in this market sold for an average of 94.6 percent of their asking price over the past year, below the 96.4 percent median across the markets we publish.

Haho

This 5-bed single family in Toronto (Mimico) has been listed for 19 days, which is 37 days fresher than the city average of 56. Act while there is still low competition.

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Listed by RE/MAX WEST REALTY INC. · SULEIMAN ASLAM

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (M8Y)

This home lists at $1,600,000, about 17.6× the local median household income of $91,000.

Carrying it typically needs a household income of about $312,536 (20% down, 25-yr amortization, stress-tested) — roughly 243% above the area median.

Median household income: $91,000
Population: 21,986
Median age: 40.8
Owner / renter: 56% / 44%
Avg. household size: 2.2

Source: Statistics Canada, 2021 Census (FSA M8Y)

$1,600,000· $1,778/ft²

For sale

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Full Cost Breakdown

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Down Payment20% · $320,000

Min 20%50%

Mortgage payment$6,824/mo

Property tax (est.)$327/mo

Total monthly$7,151

Cash Needed to Close

Down payment (20%)$320,000

Land transfer tax$56,950

Est. closing costs$7,300

Total cash needed$384,250

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