$550,000

For sale

#605 51 Lower Simcoe Street, Toronto (Waterfront Communities) - Single Family for Sale

#605 51 Lower Simcoe Street, Toronto (Waterfront Communities), Ontario, M5J3A2

1 bed1 bath1 parking550 ft²$530/mo condo feeListed 11 days ago

Overview

This 1-bedroom, 1-bathroom condo in Toronto is for sale offering roughly 550 sq ft of space. Listed at $550,000, it is attractively priced about 13% below the $629,900 median asking price in Toronto. It has been on the market 11 days, fresher than the Toronto average of 57 days.

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Description

Welcome to Suite 605 at 51 Lower Simcoe Street! This inviting downtown condo features an open-concept layout, floor-to-ceiling windows and a private balcony. The kitchen offers granite countertops, stainless steel appliances and a breakfast bar overlooking the living and dining area. A comfortable bedroom, ensuite laundry and easy-care flooring complete the space. Enjoy building amenities including an indoor pool, fitness centre, sauna, party room and billiards room. Ideally located near Union Station, the waterfront, Scotiabank Arena, Rogers Centre, steps away from parks, restaurants and shopping. A convenient place to call home in the heart of the city! (id:66096)

Property Details

MLS®: C14115872
Property Type: Single Family
Bedrooms: 1
Beds (above / below): 1 above · 0 below
Bathrooms: 1
Parking: 1
Interior Size: 550 ft²
Basement: None
Heating: Forced air, Natural gas
Cooling: Central air conditioning
Garage: Garage, Underground
Condo Fee: $530/mo
Fee Includes: Common Area Maintenance, Heat, Water, Insurance, Parking
Ownership: Condo/Strata
Property Tax: $2,677/yr
Listed: 11 days ago

Rooms

Main level

Dining room: 5.25 x 3.05 meters
Bedroom: 3.67 x 3.05 meters
Kitchen: 2.52 x 2.44 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, Dryer, Microwave, Window Coverings
Flooring: Laminate
Exterior: Concrete
Lot Features: Balcony, Carpet Free

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

11d

Toronto (Waterfront Communities) listings, avg age

57d

Price / ft²

$1,001

List price

$550K

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 1-bed single family in Toronto (Waterfront Communities) has been listed for 11 days, which is 46 days fresher than the city average of 57. Act while there is still low competition.

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Listed by REAL BROKER ONTARIO LTD. · ALI MCDONALD

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (M5J)

This home lists at $550,000, about 5.9× the local median household income of $94,000.

Carrying it typically needs a household income of about $107,434 (20% down, 25-yr amortization, stress-tested) — roughly 14% above the area median.

Median household income: $94,000
Population: 16,879
Median age: 33.6
Owner / renter: 43% / 57%
Avg. household size: 1.7

Source: Statistics Canada, 2021 Census (FSA M5J)

$550,000· $1,001/ft²

For sale

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Full Cost Breakdown

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Down Payment5.45% · $30,000

Min 5.45%50%

Mortgage payment$2,883/mo

↳ CMHC premium ($20,800 capitalized)

Property tax (est.)$223/mo

Condo fee$530/mo

Total monthly$3,636

Cash Needed to Close

Down payment (5.45%)$30,000

Land transfer tax$14,950

Est. closing costs$4,150

Total cash needed$49,100

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