$399,900

For sale

#807 7 Lorraine Drive, Toronto (Willowdale West) - Single Family for Sale

#807 7 Lorraine Drive, Toronto (Willowdale West), Ontario, M2N7H2

2 beds1 bath1 parking550 ft²$536/mo condo feeListed 33 days ago

Overview

This 2-bedroom, 1-bathroom condo in Toronto is for sale offering roughly 550 sq ft of space. Listed at $399,900, it is attractively priced about 35% below the $620,000 median asking price in Toronto. It has been on the market 33 days, fresher than the Toronto average of 74 days.

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Description

Welcome to this bright and beautifully updated 1+Den suite at the highly sought-after 7 Lorraine Drive in the heart of North York. Featuring a functional open-concept layout with no wasted space, the suite offers updated kitchen appliances, flooring and lighting, plus a spacious living area with walk-out to a private balcony. Enjoy convenient access to Finch Subway Station, GO Transit, Metro, restaurants, cafés, parks, banks, and shops. Residents have access to excellent amenities including 24-hour concierge, indoor pool, sauna, gym, billiards, guest and party rooms, visitor parking, and bike racks. Includes an extra-large locker and owned parking space conveniently located close to the elevators. Move-in ready and enjoy the best of Yonge & Finch living! Flooring was newly replaced 3 years ago. The stove is 2 years old, and The range hood is 1 year old (It is fully automatic with motion-sensor activation and operation), The refrigerator is brand new (installed this year) (id:66096)

Property Details

MLS®: C13858316
Property Type: Single Family
Bedrooms: 2
Beds (above / below): 1 above · 1 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: $536/mo
Fee Includes: Common Area Maintenance, Heat, Water, Insurance, Parking
Ownership: Condo/Strata
Property Tax: $2,038.58/yr
Listed: 33 days ago

Features

Appliances: Washer, Refrigerator, Dishwasher, Stove, Dryer, Microwave, Window Coverings
Exterior: Brick
Lot Features: Balcony

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

33d

Toronto (Willowdale West) listings, avg age

74d

Price / ft²

$728

List price

$400K

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 (Willowdale West) has been listed for 33 days, which is 41 days fresher than the city average of 74. Act while there is still low competition.

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Listed by PROMPTON REAL ESTATE SERVICES CORP. · LIHANG CHEN

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (M2N)

This home lists at $399,900, about 4.9× the local median household income of $82,000.

Carrying it typically needs a household income of about $78,114 (20% down, 25-yr amortization, stress-tested) — within reach of the area median.

Median household income: $82,000
Population: 75,100
Median age: 38
Owner / renter: 59% / 41%
Avg. household size: 2.2

Source: Statistics Canada, 2021 Census (FSA M2N)

$399,900· $728/ft²

For sale

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Full Cost Breakdown

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Down Payment5% · $19,995

Min 5%50%

Mortgage payment$2,106/mo

↳ CMHC premium ($15,196 capitalized)

Property tax (est.)$170/mo

Condo fee$536/mo

Total monthly$2,812

Cash Needed to Close

Down payment (5%)$19,995

Land transfer tax$8,947

Est. closing costs$3,700

Total cash needed$32,642

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