$499,000

For sale

#2907 238 Simcoe Street, Toronto (Kensington-Chinatown) - Single Family for Sale

#2907 238 Simcoe Street, Toronto (Kensington-Chinatown), Ontario, M5T0E2

2 beds1 bath0 parking550 ft²$546/mo condo feeListed 56 days ago

Overview

This 2-bedroom, 1-bathroom condo in Toronto is for sale offering roughly 550 sq ft of space. Listed at $499,000, it is attractively priced about 26% below the $675,000 median asking price in Toronto. It has been on the market 56 days, fresher than the Toronto average of 81 days.

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Description

Welcome To 238 Simcoe St, Unit 2907, A Stylish 1 Bedroom + Den Suite In The Prestigious Artist Alley Condos! Perched On A High Floor, This Bright And Modern Residence Offers Breathtaking South-Facing City Views. The Functional Open-Concept Layout Features A Spacious Living And Dining Area With A Walk-Out To The Private Balcony. The Modern Kitchen Is Equipped With A Full Set Of Built-In Appliances And A Sleek Backsplash. The Primary Bedroom Features Floor-To-Ceiling Windows And A Mirrored Closet, While The Versatile Den Can Be Used As A Home Office Or Potential Second Bedroom. Located In The Heart Of Downtown Toronto With A Near-Perfect Walk And Transit Score, This Exceptional Location Offers Unparalleled Urban Convenience. Steps To TTC And St. Patrick Subway Station, OCAD University, The AGO, Restaurants, Parks, Hospitals, And More! Minutes To The University Of Toronto, Financial And Entertainment Districts, Nathan Phillips Square, Eaton Centre, And All That Downtown Toronto Has To Offer. An Excellent Opportunity For Professionals, Students, And Investors Alike! (id:66096)

Property Details

MLS®: C13771702
Property Type: Single Family
Bedrooms: 2
Beds (above / below): 1 above · 1 below
Bathrooms: 1
Parking: 0
Interior Size: 550 ft²
Basement: None
Heating: Electric, Coil Fan
Cooling: Central air conditioning
Garage: Garage, Underground
Pool: Yes
Condo Fee: $546/mo
Fee Includes: Common Area Maintenance, Heat, Insurance
Ownership: Condo/Strata
Listed: 56 days ago

Rooms

Flat

Living room: 6.17 x 3.05 meters
Dining room: 6.17 x 3.05 meters
Kitchen: 6.17 x 3.05 meters
Primary Bedroom: 3.12 x 2.9 meters
Den: 2.44 x 2.21 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, Oven, Dryer, Microwave, Cooktop, Hood Fan
Flooring: Laminate
Exterior: Concrete
Lot Features: Balcony

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

56d

Toronto (Kensington-Chinatown) listings, avg age

81d

Price / ft²

$908

List price

$499K

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 (Kensington-Chinatown) has been listed for 56 days, which is 25 days fresher than the city average of 81. Act while there is still low competition.

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Listed by BAY STREET INTEGRITY REALTY INC. · TRUMAN CHEN

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (M5T)

This home lists at $499,000, about 8.1× the local median household income of $61,600.

Carrying it typically needs a household income of about $97,472 (20% down, 25-yr amortization, stress-tested) — roughly 58% above the area median.

Median household income: $61,600
Population: 17,903
Median age: 36
Owner / renter: 32% / 68%
Avg. household size: 1.9

Source: Statistics Canada, 2021 Census (FSA M5T)

$499,000· $908/ft²

For sale

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Full Cost Breakdown

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Down Payment5% · $24,950

Min 5%50%

Mortgage payment$2,628/mo

↳ CMHC premium ($18,962 capitalized)

Est. property tax$0/mo

Condo fee$546/mo

Total monthly$3,174

Cash Needed to Close

Down payment (5%)$24,950

Land transfer tax$12,910

Est. closing costs$3,997

Total cash needed$41,857

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