$1,495,000 - 257 Concord Avenue, Downtown Toronto
Semi-Detached for Sale in Downtown Toronto
160 days on marketNeighbourhood: Palmerston-Little Italy
- MLS Number
- C12611292
- Property Type
- Semi-Detached
- Status
- active
- Days on Site
- 160
- Bedrooms
- 6
- Bathrooms
- 2
- Square Feet
- 1,500 - 1,999 sqft
- Neighbourhood
- Downtown Toronto / Waterfront
- Listing Brokerage
- BOUTIQUE REAL ESTATE CORPORATION
Home with Two Apt Units: Apt 2 Second/Third Floor renovations have finally been completed (4 months long). Now, rented on a lease for $3,600/month plus hydro. Tens of thousands of dollars have been spent upgrading this apartment. Apt 1: Tenants on Month-to-Month, former Owners' apt, open-concept main-floor, renovated kitchen with stainless steel appliances, marble counter and many other upgrades. Can be used as a 2 or 3-Bdrm apartment. Apt 2: is a 3-bedroom apt. Mechanically sound home, but we will let your Home inspector verify this. Possibilities abound: live in one unit and use the $3,600/month to help pay the mortgage, or assume both Tenants, or maybe in the future you want to convert back to a very large single-family home with still a potential basement ensuite. Parking from the laneway, 2 spots depending on vehicle size. This home is very close to the Ossington Subway station and multiple transit options. Fenced-in backyard with a shed included. This owner has pride of ownership and has made multiple renovations over the years. Since 2022, to name a few, new electrical completed with permits, new furnace, new central air conditioning, hot water tank owned, new electrical panel, new flooring, new drywall and plaster walls and ceilings, new paint, new drains and basement flooring, new full-sized stainless steel refrigerator, new stainless steel induction stove and oven on the second floor. A complete renovation of the main floor and basement some years ago. As per Apt 1 tenant's request and respect for tenant's privacy, no interior photos are posted. Showings are available by appointment with appropriate notice. The seller is confident about the property and its condition; there might be a possible discussion for some Seller-assisted financing.
Estimate your monthly payments for this property
Estimated Payment
$6,612.89/mo
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 Palmerston-Little Italy
Palmerston-Little Italy 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 Palmerston-Little Italy
- •Convenient location in Downtown Toronto / Waterfront
- •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
Palmerston-Little Italy 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.
257 Concord Avenue, Downtown Toronto / Waterfront
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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 $997/sqft, this property is priced in line with current Downtown Toronto 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.
Negotiation Opportunity
At 160 days on site, this property has exceeded the typical selling timeline for Downtown Toronto. This creates leverage for buyers. The seller may be motivated by carrying costs, life circumstances, or previous deals falling through. I'd recommend a strategic offer below asking with terms that favour you.
Detached Home Advantages
Detached homes in Downtown Toronto are increasingly scarce and valuable. You'll have no shared walls, full control over renovations, and typically stronger appreciation. Consider the lot size and potential for future additions or basement apartment income. Detached homes also offer the most flexibility for growing families.
Excellent Flexibility
With 6 bedrooms, you have genuine flexibility. Beyond the master and kids' rooms, you can have a dedicated home office, guest room, hobby space, or even rental income potential. In today's work-from-home era, extra bedrooms add significant value. Properties with 5+ bedrooms are relatively rare in Downtown Toronto.
About Palmerston-Little Italy
I know Palmerston-Little Italy 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: Downtown Toronto properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $6,229 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.