$567,000 - 255 Richmond Street Unit 404, Cabbagetown
Condo for Sale in Cabbagetown
Neighbourhood: Moss Park
- MLS Number
- C13535832
- Property Type
- Condo
- Status
- active
- Days on Site
- 26
- Bedrooms
- 1
- Bathrooms
- 1
- Square Feet
- 600 sqft
- Neighbourhood
- Regent Park / Cabbagetown / St. James Town
- Locker
- None
- Exposure
- South
- Balcony
- Open
- Listing Brokerage
- HOMEART REALTY SERVICES INC.
Discover Your Perfect Home in the Heart of Toronto! This Bright 2 -Level Condo Features a Spacious One Bedroom Loft with 17 Ft High Floor to Ceiling Windows. Located Near St. Lawrence Market & George Brown College, it is a a Short Walk from All Amenities. Enjoy Your Modern Open Concept Kitchen W/ a Breakfast Bar, Quartz Countertop, Contemporary Backsplash & S/S Appliances. The Combined Living & Dining Area Opens to a Balcony With Great Natural Light. The Primary Bedroom on the Upper Level Offers Privacy & Includes an Ensuite Bathroom W/a Walk-in Shower. It Has Hardwood Floor & Double Closets. Experience the Perfect Blend of Elegance & Comfort in this Inviting Living Space. One Parking Spot is Included, Which is a Rarity in DT Condos! Functional Layout. Condo Fees Cover Heat, A/C, Hydro & Water. The Building is well Maintained and Has a 24 Hr Concierge, Gym, Sauna, Party/Meeting Room With Kitchen, Guest Suites & Ample Free Visitor Parking. Steps to Financial District, Restaurants & Shops. Convenient Access to Subways, Buses, Don Valley Parkway & 401. Come & Check it Out. You Wont' Be Disappointed! Unit is Professionally Cleaned & Move-in Ready Any time!!
Estimate your monthly payments for this property
Estimated Payment
$2,909.00/mo
Includes CMHC insurance ($15,819)
5-yr fixed avg.
Rates shown are estimates based on typical Ontario 5-year fixed rates. Canadian mortgages use semi-annual compounding as required by law. CMHC insurance applies to purchases under $1.5M with less than 20% down. Estimated property tax uses an approximate 0.85% rate. Contact us for current rate options and pre-approval.
Discover Moss Park
Moss Park is a vibrant community in the Greater Toronto Area, offering excellent amenities, schools, and transportation options. This area is popular with families and professionals seeking a balanced lifestyle with access to urban conveniences and natural spaces.
Why Live in Moss Park
- •Convenient location in Regent Park / Cabbagetown / St. James Town
- •Access to local shops and dining
- •Good public transit connections
- •Community parks and green spaces
- •Well-maintained neighbourhoods
Nearby Schools
Transit & Commuting
- •MiWay bus routes throughout the area
- •GO Transit stations within driving distance
- •Easy highway access to 401/403/QEW
- •Walking distance to local amenities
Parks & Amenities
- •Local parks and recreational facilities
- •Community centres
- •Shopping plazas nearby
- •Restaurants and cafes
Lifestyle & Community
Moss Park offers a wonderful quality of life with a mix of residential charm and urban convenience. Residents enjoy easy access to schools, parks, and shopping, making it an ideal location for families and professionals alike.
255 Richmond Street Unit 404, Regent Park / Cabbagetown / St. James Town
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Rental income estimator & ROI calculator
Monthly Cash Flow Breakdown
Note: These are estimates only. Actual figures may vary based on market conditions, property condition, and other factors. Consult with a financial advisor for personalized advice.
Joe's Thoughts
Honest perspective from 30+ years of GTA real estate experience
Fair Market Value
At $945/sqft, this property is priced in line with current Cabbagetown market conditions. The pricing suggests the seller has done their homework. We may have modest room for negotiation, typically 2-4% in today's market.
Market Position
At 26 days on site, this property has had reasonable exposure. It hasn't sold immediately (which often indicates overpricing), but isn't languishing either. There's likely room for a 3-5% negotiation from asking price.
Condo Considerations
For condos, I always review the status certificate thoroughly. Key things I look for: reserve fund health (should be well-funded), any upcoming special assessments, rules that might affect your lifestyle (pets, rentals, renovations), and the corporation's financial statements. We'll want to verify the monthly fees and what they include.
Efficient Living
At 600 sqft, this is a more compact space. The upside: lower utility bills, less maintenance, and easier cleaning. Consider how you'll use the space - built-in storage, multi-functional furniture, and good organization become important. Great for singles, couples, or those who prefer a low-maintenance lifestyle.
About Moss Park
I know Moss Park well from working with many buyers and sellers here. Each pocket has its own character - let me share what I've learned about this specific street and block. During our showing, I'll point out local amenities, school catchments, and what similar homes have sold for recently.
Investment Perspective
Looking at this as an investment: Cabbagetown properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $2,363 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.