$399,000

For sale

#412 20 Orchid Place Drive, Toronto (Malvern) - Single Family for Sale

#412 20 Orchid Place Drive, Toronto (Malvern), Ontario, M1B0E1

2 beds1 bath1 parking650 ft²$481/mo condo feeListed 43 days ago

Overview

This 2-bedroom, 1-bathroom condo in Toronto is for sale offering roughly 650 sq ft of space. Listed at $399,000, it is attractively priced about 16% below the $474,900 median asking price in Toronto. It has been on the market 43 days, fresher than the Toronto average of 61 days.

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Description

Exceptional Value****** Daniels Built (2021). This open-concept one-bedroom-plus-den suite (Den can be used as a bedroom) is ideally located in the heart of Scarborough's vibrant community. Perfect for first-time buyers starting a family or investors (cash flow positive rental ), it includes One parking space and offers reasonable maintenance fees. Walk to Markham and Sheppard Plaza, Food Basics, Shoppers Drug Mart, restaurants, banks, parks, places of worship and the Chinese Cultural Centre. Conveniently located near schools, a police station and TTC transit, with quick access to Highway 401, Centennial College, the University of Toronto Scarborough Campus and Scarborough Town Centre. *****Images Virtually Staged (id:66096)

Property Details

MLS®: E13814232
Property Type: Single Family
Bedrooms: 2
Beds (above / below): 1 above · 1 below
Bathrooms: 1
Parking: 1
Interior Size: 650 ft²
Basement: None
Heating: Forced air, Natural gas
Cooling: Central air conditioning
Garage: Garage, Underground
Condo Fee: $481/mo
Fee Includes: Common Area Maintenance, Insurance, Parking
Ownership: Condo/Strata
Property Tax: $2,002.6/yr
Listed: 43 days ago

Rooms

Main level

Living room: 3.3 x 2.95 meters
Kitchen: 3.3 x 2.95 meters
Bedroom: 2.87 x 3.3 meters
Den: 2.01 x 2.08 meters
Bathroom

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

Features

Appliances: Window Coverings
Flooring: Laminate, Carpeted
Exterior: Concrete, Brick
Lot Features: Balcony, In suite Laundry

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

43d

Toronto (Malvern) listings, avg age

61d

Price / ft²

$614

List price

$399K

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 (Malvern) has been listed for 43 days, which is 18 days fresher than the city average of 61. Act while there is still low competition.

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Listed by PROPERTY.CA INC. · ANDREEA PAVLOV

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (M1B)

This home lists at $399,000, about 4.4× the local median household income of $91,000.

Carrying it typically needs a household income of about $77,939 (20% down, 25-yr amortization, stress-tested) — within reach of the area median.

Median household income: $91,000
Population: 65,555
Median age: 39.6
Owner / renter: 72% / 28%
Avg. household size: 3.2

Source: Statistics Canada, 2021 Census (FSA M1B)

$399,000· $614/ft²

For sale

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Full Cost Breakdown

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Down Payment5% · $19,950

Min 5%50%

Mortgage payment$2,102/mo

↳ CMHC premium ($15,162 capitalized)

Property tax (est.)$167/mo

Condo fee$481/mo

Total monthly$2,749

Cash Needed to Close

Down payment (5%)$19,950

Land transfer tax$8,920

Est. closing costs$3,697

Total cash needed$32,567

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