$349,900

$369,000For salePrice drop↓ $19,100 (5%)

#2304 55 Centre Avenue, Toronto (Bay Street Corridor) - Single Family for Sale

#2304 55 Centre Avenue, Toronto (Bay Street Corridor), Ontario, M5G2H5

2 beds1 bath0 parking550 ft²$676/mo condo feeListed 34 days ago

Overview

This 2-bedroom, 1-bathroom condo in Toronto is for sale offering roughly 550 sq ft of space. It has been on the market 34 days, fresher than the Toronto average of 60 days.

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Description

**An Affordable Opportunity In The Heart Of Downtown Toronto!** Welcome to 55 Centre Ave #2304, where downtown ownership is within reach. Located in the sought-after Bay Street Corridor, this approximately 589 sq. ft. suite offers a functional layout with hardwood floors, bright bedrooms with a large bay window, good size living area, a separate dining area, galley kitchen, 4-piece bath and in-suite laundry. Currently configured with two compact bedrooms, the flexible layout offers options to suit your needs, whether you're looking for a downtown home, a work-from-home setup or an investment opportunity. Prefer a more open feel? Remove the existing partition wall to create a more spacious one-bedroom layout. An unbeatable central location just steps to St. Patrick subway station, U of T, Toronto Metropolitan University, the Financial District, major hospitals, Chinatown, Eaton Centre, restaurants and everyday conveniences. Enjoy the best of downtown living with the freedom to make the space your own. A great opportunity for first-time buyers and investors alike! (id:66096)

Property Details

MLS®: C13849934
Property Type: Single Family
Bedrooms: 2
Beds (above / below): 1 above · 1 below
Bathrooms: 1
Parking: 0
Interior Size: 550 ft²
Basement: None
Heating: Natural gas, Coil Fan
Cooling: Central air conditioning
Garage: Garage, Underground
Condo Fee: $676/mo
Fee Includes: Common Area Maintenance, Heat, Water, Insurance
Ownership: Condo/Strata
Property Tax: $2,010.35/yr
Listed: 34 days ago

Rooms

Main level

Kitchen: 1.57 x 2.45 meters
Dining room: 1.75 x 2.38 meters
Living room: 3.01 x 2.99 meters
Primary Bedroom: 2.22 x 3.32 meters
Bedroom 2: 2.42 x 2.85 meters
Bathroom: 1.56 x 2.5 meters

Room details as supplied by the listing brokerage. Dimensions are shown in the unit the listing states, and are approximate.

Features

Appliances: Washer, Refrigerator, Dishwasher, Stove, Range, Dryer, Furniture, Window Coverings
Flooring: Hardwood, Ceramic
Foundation: Unknown
Exterior: Concrete
Lot Features: Carpet Free, In suite Laundry

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

34d

Toronto (Bay Street Corridor) listings, avg age

60d

Price / ft²

$637

List price

$350K

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 2-bed single family in Toronto (Bay Street Corridor) has been listed for 34 days, which is 26 days fresher than the city average of 60. Act while there is still low competition.

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Listed by KELLER WILLIAMS PORTFOLIO REALTY · PAUL KING

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (M5G)

This home lists at $349,900, about 5.2× the local median household income of $67,500.

Carrying it typically needs a household income of about $68,348 (20% down, 25-yr amortization, stress-tested) — roughly 1% above the area median.

Median household income: $67,500
Population: 9,751
Median age: 30.8
Owner / renter: 30% / 70%
Avg. household size: 1.7

Source: Statistics Canada, 2021 Census (FSA M5G)

$349,900· $637/ft²

For sale

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Full Cost Breakdown

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Down Payment5% · $17,495

Min 5%50%

Mortgage payment$1,843/mo

↳ CMHC premium ($13,296 capitalized)

Property tax (est.)$168/mo

Condo fee$676/mo

Total monthly$2,687

Cash Needed to Close

Down payment (5%)$17,495

Land transfer tax$7,447

Est. closing costs$3,550

Total cash needed$28,492

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