$649,000

$672,000For salePrice drop↓ $23,000 (3%)

#611 38 Elm Street, Toronto (Bay Street Corridor) - Single Family for Sale

#611 38 Elm Street, Toronto (Bay Street Corridor), Ontario, M5G2K5

2 beds2 baths1 parking1,100 ft²$1,276/mo condo feeListed 23 days ago

Overview

This 2-bedroom, 2-bathroom condo in Toronto is for sale offering roughly 1,100 sq ft of space. Listed at $649,000, it is attractively priced about 5% below the $685,000 median asking price in Toronto. It has been on the market 23 days, fresher than the Toronto average of 60 days.

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Description

Welcome to Minto Plaza, a premier downtown Toronto residence just steps from Yonge Street. This bright and spacious 2-bedroom, 2-bathroom suite offers approximately 1,008 sq. ft. of thoughtfully designed living space with a highly desirable split-bedroom layout. Fully renovated and move-in ready, the unit features custom kitchen with quartz countertops, Vinyl flooring, fresh paint, Stainless steel appliances, generous principal rooms, and excellent storage. The large primary bedroom includes a walk-in closet and 4-piece ensuite. Enjoy preferred south west exposure , plus one parking space and one locker. All-inclusive maintenance fees cover utilities. Building amenities include a 24-hour concierge, indoor pool, sauna, gym, study and piano lounges, and rooftop terrace. Steps to Dundas subway station, Eaton Centre, TMU, hospitals, U of T, the Financial District, shopping, dining, and entertainment. No pets permitted. Some images are virtually staged. (id:66096)

Property Details

MLS®: C14029726
Property Type: Single Family
Bedrooms: 2
Beds (above / below): 2 above · 0 below
Bathrooms: 2
Parking: 1
Interior Size: 1,100 ft²
Basement: None
Heating: Forced air, Natural gas
Cooling: Central air conditioning
Garage: Garage, Underground
Condo Fee: $1,276/mo
Fee Includes: Common Area Maintenance, Heat, Electricity, Water, Insurance, Parking
Ownership: Condo/Strata
Property Tax: $4,027/yr
Listed: 23 days ago

Rooms

Main level

Living room: 6.03 x 3.6 meters
Dining room: 6.03 x 3.6 meters
Kitchen: 2.68 x 2.35 meters
Primary Bedroom: 4.2 x 3.23 meters
Bedroom 2: 3.56 x 3.31 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, Hood Fan, Window Coverings
Flooring: Vinyl
Exterior: Concrete
Lot Features: Balcony

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

23d

Toronto (Bay Street Corridor) listings, avg age

60d

Price / ft²

$590

List price

$649K

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 23 days, which is 37 days fresher than the city average of 60. Act while there is still low competition.

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Listed by FIRST CLASS REALTY INC. · JECA WONG

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (M5G)

This home lists at $649,000, about 9.6× the local median household income of $67,500.

Carrying it typically needs a household income of about $126,772 (20% down, 25-yr amortization, stress-tested) — roughly 88% 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)

$649,000· $590/ft²

For sale

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Full Cost Breakdown

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Down Payment6.15% · $39,900

Min 6.15%50%

Mortgage payment$3,377/mo

↳ CMHC premium ($24,364 capitalized)

Property tax (est.)$336/mo

Condo fee$1,276/mo

Total monthly$4,988

Cash Needed to Close

Down payment (6.15%)$39,900

Land transfer tax$18,910

Est. closing costs$4,447

Total cash needed$63,257

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