2506-500 Sherbourne Street, Toronto, ON
Cabbagetown-South St. James Town, Toronto · MLS® C13429788
About this home
Welcome to The 500. This exceptional 1,360 sq ft corner suite offers breathtaking panoramic views of the lake and city skyline, complemented by soaring 9-foot ceilings and generously sized living spaces. Enjoy two oversized balconies, perfect for entertaining or relaxing outdoors. The unit features numerous upgrades, including Brazilian hardwood flooring throughout, custom granite countertops with island, and updated door casings, doors, and baseboards. Ideally located just steps from Maison Selby, supermarkets, and within minutes' walk to two subway stations, Cabbagetown, Church-Wellesley Village, and Yorkville. On-site amenities include outdoor patio with bbqs, gym, yoga room, sauna, lobby lounge, rec room , offices and meeting room. car share services and EV charging stations. Suite 2506 has been rented for $5,000/month on a fully furnished basis. This unit is available for sale fully finished and move-in ready, at the buyer's request.
Key facts
- Property type
- Condo Apartment, Apartment
- MLS®
- C13429788
- Bedrooms
- 2
- Bathrooms
- 2
- Size
- 1200-1399
- Cross streets
- Sherbourne/Wellesley
- Parking
- 1 garage (underground)
- Basement
- None
- Heating
- Forced Air
- A/C
- Central Air
- Exterior
- Concrete
- Maintenance
- $1,231/mo
- Exposure
- South West
- Property tax
- $5,540 / 2026
- Days on market
- 41
- Listing brokerage
- CHESTNUT PARK REAL ESTATE LIMITED
Rooms
combined w/living · hardwood floor · w/o to balcony
combined w/dining · hardwood floor · large window
stainless steel appl · tile floor · granite counters
hardwood floor · walk-in closet(s) · w/o to balcony
hardwood floor · closet · w/o to balcony
Listed at $1,075,000, this home is about 32% above what comparable homes suggest. The number above is my independent estimate of value, not the asking price.
Priced above comparable homes overall, but the price per square foot ($827/sqft) is in line with the area, so you are paying for extra space rather than a premium.
In Cabbagetown-South St. James Town lately, sellers have been getting about 95% of asking and homes sell in about 28 days. Prices are down 11% versus a year ago.
Based on 31 similar homes that recently sold nearby, adjusted for size, beds, and baths.Median of 31 recently sold comparable homes — actual closing prices, not asks — adjusted for size, beds, and baths. The city (MPAC) assessment points to about $1.17M, higher than the comparables and worth a second look.
How I got there
Here is the exact math behind the estimate. I start from the closest comparable listing and adjust for the real differences (size, beds, baths) to land on a like-for-like value for this home.
- Closest comparable, sold for $930K
- Size difference +$76K
- Adjusts to $1.01M
That comparable adjusts to $1.01M; the $811K estimate above is the median of all 31 comparables, which is steadier than any single home.This estimate is grounded in actual closing prices from the last 15 months, not asking prices. Lot, condition, and finishes are still my in-person call.
Total price vs nearby homes. Fair value about $811K, median of 31 comparables.
What the listing highlightsThese are claims from the listing. The only way to know for sure is to see it in person, and I am happy to book you a private showing.
- Tall ceilings: they transform how a home feels, worth confirming the actual heights room to room. Worth verifying
- Hardwood floors: quality hardwood is durable and broadly desirable. Lifestyle
- Transit / schools nearby: convenience and resale support, verify the exact distances and school catchment. Value driver
- Sold as-is / needs work: budget for renovation, the price should reflect the condition. Weigh carefully
The closest active listings by size, beds, and price, so you can see what this home is up against.
The 5 closest of 8 active listings nearby.
See all comparable homesThis home lists 3% above the area average of $803/sqft.
40 days longer than the Toronto average (1 days).
View comparable listingsPrice per square foot vs the area average.
Neighbourhood & location
Cabbagetown-South St. James Town, Toronto, ON
How asking prices compare in the closest areas to this home. Longer bars mean a pricier market.
Typical asking price of active listings of the same type, per area (outliers removed). Toronto.
Get the full neighbourhood report (schools, parks, transit & safety) →
Affordability & Mortgage
Income needed assumes a ~32% GDS ratio; weekly is mortgage principal & interest only. Price ÷ income is the home price over the income needed. Fixed reference assumptions so listings compare on equal footing, not a lending decision.
Calculate and customize your mortgage and other expenses
Adjust the down payment, rate, and amortization, and add property tax, condo fees, and heating to see your true monthly cost.
Your numbers
Conventional (20%+ down). Best insured 5-year fixed 3.99% via Ratehub.ca (as of July 22, 2026); conventional rates run a little higher.
Mortgage amount $860,000 · 4.14% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $4,589
- Property tax
- $462
- Condo / maintenance fees
- $1,231
- Heating
- $0
- Estimated monthly cost
- $6,282
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $17,975
- Toronto municipal land transfer tax
- $17,975
- Estimated closing costs
- $35,950
Plus your down payment of $215,000. Legal fees, title insurance, and adjustments are extra and vary by deal.
Mortgage stress test
Lenders qualify you at the greater of your rate plus 2% or 5.25%. You do not pay this rate. It just shows you could still handle payments if rates rose, so aim to stay comfortable at this higher number.
Over the full 25 years
At the end of your 5-year term
- Total paid over the term
- $275,357
- Principal paid down
- $109,521
- Interest paid
- $165,836
- Balance remaining
- $750,479
Talk to Team Asgarian about your options
Rates and programs change often. We will connect you with a trusted mortgage professional and build a plan that fits your budget and goals.
Estimates only, not a mortgage quote or pre-approval. Figures use Canadian semi-annual compounding, current minimum down-payment rules, CMHC premium tiers, and Ontario (plus Toronto, when selected) land transfer tax. Actual rates, taxes, insurance, and closing costs vary by lender and property. Confirm every number with your mortgage professional.
Investor snapshot
Thinking of this home as an investment? We will pull real comparable rents and run the full numbers with you.
Talk about the numbersEstimates only. Rent is modelled on above-grade size and local norms, so a finished basement or second suite (a separate entrance often means one) can push real rent well above this. Taxes, fees, and vacancy vary by property, and cap rate is before financing. A starting point, not a final number, let us run the real ones with you.
Helpful resources
All information deemed reliable but not guaranteed. For personal, non-commercial use only. Listing courtesy of CHESTNUT PARK REAL ESTATE LIMITED. MLS®/PropTx.