$549,000

For sale

#621 438 Richmond Street West, Toronto (Waterfront Communities) - Single Family for Sale

#621 438 Richmond Street West, Toronto (Waterfront Communities), Ontario, M5V3S6

1 bed1 bath1 parking650 ft²$596/mo condo feeListed 17 days ago

Overview

This 1-bedroom, 1-bathroom condo in Toronto is for sale offering roughly 650 sq ft of space. Listed at $549,000, it is attractively priced about 13% below the $629,900 median asking price in Toronto. It has been on the market 17 days, fresher than the Toronto average of 57 days.

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Description

Welcome to The Morgan - where downtown living still comes with space, character, and a real sense of home. Set in one of King West's most recognizable art deco-inspired buildings, this suite offers the kind of practical, livable layout that has become increasingly hard to find in newer condos. Comfortable, well-proportioned, and ready for its next chapter, it's the perfect opportunity to move in as-is or make it your own. Step outside and you're surrounded by the best of King West, Queen West, the Entertainment District, and the Financial Core, with the future King West Ontario Line station coming nearby. Restaurants, cafes, nightlife, transit, work, and everyday conveniences are all within easy reach. The Morgan is a well-managed building with 24-hour concierge, quality amenities, a rooftop terrace, and a strong downtown community. If you're looking for a condo with more substance, better proportions, and a location that truly delivers, this is it. (id:66096)

Property Details

MLS®: C14096204
Property Type: Single Family
Bedrooms: 1
Beds (above / below): 1 above · 0 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: $596/mo
Fee Includes: Common Area Maintenance, Heat, Water, Insurance
Ownership: Condo/Strata
Property Tax: $2,954.15/yr
Listed: 17 days ago

Rooms

Main level

Kitchen: 2.52 x 1.92 meters
Living room: 5.49 x 3.4 meters
Dining room: 5.49 x 3.4 meters
Primary Bedroom: 4.41 x 2.78 meters

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

Features

Appliances: All
Flooring: Tile, Laminate
Exterior: Concrete
Lot Features: Balcony

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

17d

Toronto (Waterfront Communities) listings, avg age

57d

Price / ft²

$845

List price

$549K

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 17 days, which is 40 days fresher than the city average of 57. Act while there is still low competition.

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Listed by RIGHT AT HOME REALTY · ARDY NIKZAD

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (M5V)

This home lists at $549,000, about 6.0× the local median household income of $91,000.

Carrying it typically needs a household income of about $107,239 (20% down, 25-yr amortization, stress-tested) — roughly 18% above the area median.

Median household income: $91,000
Population: 59,912
Median age: 32
Owner / renter: 42% / 58%
Avg. household size: 1.6

Source: Statistics Canada, 2021 Census (FSA M5V)

$549,000· $845/ft²

For sale

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Full Cost Breakdown

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Down Payment5.45% · $29,900.00

Min 5.45%50%

Mortgage payment$2,878/mo

↳ CMHC premium ($20,764 capitalized)

Property tax (est.)$246/mo

Condo fee$596/mo

Total monthly$3,720

Cash Needed to Close

Down payment (5.45%)$29,900

Land transfer tax$14,910

Est. closing costs$4,147

Total cash needed$48,957

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