410-38 Elm Street, Toronto, ON
Bay Street Corridor, Toronto · MLS® C13560476
About this home
Welcome to this bright and spacious 608 sq. ft. southeast corner suite in the heart of downtown Toronto. This move-in-ready unit has been thoughtfully updated with a new kitchen with stainless steel appliances, modern cabinetry, quartz countertops and backsplash. The unit has quality laminate flooring, closet built-ins, and fresh paint throughout. The suite also includes one parking space and one storage locker for added convenience. Enjoy the peace of mind that comes with a maintenance fee covering all utilities, offering predictable monthly expenses for both first-time homebuyers and investors. Ideally located in a highly walkable neighbourhood, you're just a short walk from the Hospital District, Toronto Metropolitan University (TMU), the University of Toronto (U of T), grocery stores, TTC subway stations, restaurants, cafés, shopping, and entertainment. Residents enjoy exceptional building amenities, including a 24-hour concierge, indoor swimming pool, fully equipped fitness centre, sauna, guest suite, parking, and an outdoor terrace providing comfort, convenience, and an outstanding downtown lifestyle.
Key facts
- Property type
- Condo Apartment, Multi-Level
- MLS®
- C13560476
- Bedrooms
- 1
- Bathrooms
- 1
- Size
- 600-699
- Cross streets
- Bay St and Yonge St
- Parking
- 1 garage (underground)
- Basement
- None
- Heating
- Baseboard
- A/C
- Central Air
- Exterior
- Concrete, Stone
- Foundation
- Concrete
- Maintenance
- $808/mo
- Exposure
- South East
- Property tax
- $2,579 / 2025
- Days on market
- 8
- Listing brokerage
- PROPERTY.CA INC.
Rooms
Listed at $489,000, this home is within the range of comparable homes, on the lower side. The number above is my independent estimate of value, not the asking price.
In Bay Street Corridor lately, sellers have been getting about 96% of asking and homes sell in about 34 days.
There were not many closely comparable homes right in Bay Street Corridor, so I widened the search to the surrounding area.
Based on 63 similar homes that recently sold nearby, adjusted for size, beds, and baths.Median of 63 recently sold comparable homes — actual closing prices, not asks — adjusted for size, beds, and baths. The city (MPAC) assessment points to about $441K, a bit lower.
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 $531K
- Bedrooms −$16K
- Adjusts to $515K
That comparable adjusts to $515K; the $526K estimate above is the median of all 63 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.
Its public catchment (Jesse Ketchum Junior and Senior Public School) tests around the provincial average, a steady, family-friendly draw. The full EQAO breakdown is below.
Total price vs nearby homes. Fair value about $526K, median of 63 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.
- Pool: lifestyle appeal, but adds maintenance, insurance, and resale is mixed. 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 31% below the area average of $1,098/sqft.
7 days longer than the Toronto average (1 days).
View comparable listingsPrice per square foot vs the area average.
Neighbourhood & location
Bay Street Corridor, Toronto, ON
Enter a workplace or destination and we’ll show the door-to-door time by car, transit and bike.
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) →
The public and Catholic schools this address is zoned for, with EQAO results (the share of students meeting Ontario's provincial standard).
School attendance boundaries and EQAO results are Ontario government data and can change. Confirm the current catchment with the school board before relying on it.
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 23, 2026); conventional rates run a little higher.
Mortgage amount $391,200 · 4.14% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $2,088
- Property tax
- $215
- Condo / maintenance fees
- $808
- Heating
- $0
- Estimated monthly cost
- $3,111
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $6,255
- Toronto municipal land transfer tax
- $6,255
- Estimated closing costs
- $12,510
Plus your down payment of $97,800. 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
- $125,255
- Principal paid down
- $49,819
- Interest paid
- $75,436
- Balance remaining
- $341,381
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 PROPERTY.CA INC.. MLS®/PropTx.