$799,000 - 98 Elma Street, Liberty Village
Detached for Sale in Liberty Village
Neighbourhood: Mimico
- MLS Number
- W13449974
- Property Type
- Detached
- Status
- active
- Days on Site
- 21
- Bedrooms
- 2
- Bathrooms
- 1
- Square Feet
- 1,100 - 1,499 sqft
- Neighbourhood
- Liberty Village / Parkdale / South Parkdale
- Listing Brokerage
- EXP REALTY
Welcome to 98 Elma Street, a cherished one-owner family home on a quiet one-way street in the heart of Mimico, offering a larger-than-average bungalow layout in one of South Etobicoke's most desirable lakeside communities. Lovingly maintained by the same family for generations, this rare offering presents an opportunity to own a home filled with warmth, pride of ownership, and endless potential.This move-in ready bungalow offers a generous and functional floor plan that is increasingly difficult to find in this highly sought-after community. The main floor features bright, open-concept living and dining areas, an eat-in kitchen with walkout to the backyard, two generous bedrooms, an updated 3-piece bathroom, convenient main-floor laundry, newer laminate flooring throughout, and a freshly painted interior that creates a warm and welcoming atmosphere. A recent home inspection noted no active knob-and-tube wiring, and the home is serviced by a breaker panel with 100-amp electrical service.The unfinished basement provides exceptional storage and future potential for additional living space, a recreation room, workshop, or personalized renovation. Situated on a desirable 25 x 125-foot lot, this property offers endless possibilities for first-time buyers, downsizers, renovators, investors, or those looking to build their dream home in a thriving neighbourhood.Enjoy all that Mimico has to offer, just minutes from Mimico GO Station, the Gardiner Expressway, waterfront parks and trails, Humber Bay Shores, local shops, restaurants, schools, and neighbourhood favourites including SanRemo Bakery. Experience the charm of a mature, family-friendly community while enjoying convenient access to downtown Toronto.A rare opportunity to secure a larger-than-average bungalow on a deep lot in one of South Etobicoke's most sought-after neighbourhoods and write the next chapter in a home that has been loved by one family for decades.
Estimate your monthly payments for this property
Estimated Payment
$4,099.28/mo
Includes CMHC insurance ($22,292)
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.
Waterfront Revival
Mimico is a revitalised waterfront neighbourhood in south Etobicoke that has transformed from a quiet residential enclave into a dynamic lakeside community. New condominium developments along the lakeshore complement the area's established tree-lined streets and village character. The Mimico GO Station and TTC streetcar provide strong transit options, while the waterfront trail offers scenic recreation.
Why Live in Mimico
- •Lake Ontario waterfront access and trail
- •Revitalised village atmosphere with new development
- •Mimico GO Station for fast downtown commuting
- •Mix of new condominiums and character homes
- •Growing restaurant and retail scene
Nearby Schools
Transit & Commuting
- •Mimico GO Station on the Lakeshore West line
- •TTC 501 Queen streetcar
- •Lakeshore West GO line to Union Station
- •Easy access to Gardiner Expressway
Parks & Amenities
- •Humber Bay Park
- •Mimico waterfront trail
- •Amos Waites Park
- •Mimico Centennial Library
- •Local shops along Royal York Road
Lifestyle & Community
Mimico offers a rejuvenated waterfront lifestyle with strong transit connections and a growing dining scene. Residents enjoy lakeside walks, waterfront cycling, and easy commuting to downtown Toronto.
98 Elma Street, Liberty Village / Parkdale / South Parkdale
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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
Competitive Pricing
At $726/sqft, this is priced below the area average. This could represent genuine value, but let's investigate why. In my experience, underpriced homes often have deferred maintenance, unfavourable layouts, or motivated sellers. I'll help you determine which it is.
Market Position
At 21 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.
Detached Home Advantages
Detached homes in Liberty Village 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.
About Mimico
I know Mimico 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: Liberty Village properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $3,329 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.
Let's See It Together
Photos only tell part of the story. During our showing, I'll point out things the camera doesn't capture: neighbourhood feel, natural light quality, traffic noise, and overall condition. I'll also share what comparable homes have sold for and help you craft a winning strategy if you decide to move forward.