411-38 Elm Street, Toronto, ON
Bay Street Corridor, Toronto · MLS® C13580798
About this home
Famous Minto Plaza Condo Building. Bright and spacious 2-bedroom suite has been completely renovated from top to bottom, turn-key condition. Perfect for first-time buyers or savvy investors looking for a high-yield asset, the unit boasts a brand-new custom kitchen, brand-new flooring throughout, a fresh new paint, and six brand-new appliances. Features an ultra-functional over 1000 sf split-bedroom floor plan with large room sizes and ample storage closets. Situated in the absolute heart of downtown with perfect walk and transit scores-walk to Dundas Subway Station, the Eaton Centre, major hospitals, TMU, U of T, and the Financial District. Top-tier, resort-style building amenities include a 24-hour concierge, full-size indoor pool, sauna, comprehensive gym, study lounges, and a rooftop terrace. A rare opportunity to own a fully renovated, large-footprint condo in a premier downtown pocket. A must-see!
Key facts
- Property type
- Condo Apartment, Apartment
- MLS®
- C13580798
- Bedrooms
- 2
- Bathrooms
- 2
- Size
- 1000-1199
- Cross streets
- Yonge / Elm St
- Parking
- 1 garage (underground)
- Basement
- None
- Heating
- Baseboard
- A/C
- Central Air
- Exterior
- Concrete
- Maintenance
- $1,276/mo
- Exposure
- South West
- Property tax
- $4,097 / 2026
- Days on market
- 4
- Listing brokerage
- CONDOWONG REAL ESTATE INC.
Rooms
b/i bookcase · mirrored walls · window
combined w/dining · balcony
ceramic floor · b/i appliances
Ceramic Floor
large window · walk-in closet(s) · 5 pc ensuite
Listed at $688,880, this home is about 17% 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 ($627/sqft) is below the area, so you are paying for extra space rather than a premium.
In Bay Street Corridor lately, sellers have been getting about 96% of asking and homes sell in about 35 days.
Based on 14 similar homes that recently sold nearby, adjusted for size, beds, and baths.Median of 14 recently sold comparable homes — actual closing prices, not asks — adjusted for size, beds, and baths. The city (MPAC) assessment points to about $635K, a close match.
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 $648K
- Adjusts to $648K
That comparable adjusts to $648K; the $588K estimate above is the median of all 14 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 $588K, median of 14 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.
- Renovated / rebuilt: recent work can mean fewer upfront costs, worth confirming the scope, quality, and that permits were pulled. Value driver
- Upscale kitchen: a genuine value driver, verify the appliances, stone, and finishes in person. Value driver
- Pool: lifestyle appeal, but adds maintenance, insurance, and resale is mixed. Weigh carefully
- Transit / schools nearby: convenience and resale support, verify the exact distances and school catchment. Value driver
The closest active listings by size, beds, and price, so you can see what this home is up against.
The 5 closest of 6 active listings nearby.
See all comparable homesThis home lists 36% below the area average of $986/sqft.
3 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 $551,104 · 4.14% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $2,941
- Property tax
- $341
- Condo / maintenance fees
- $1,276
- Heating
- $0
- Estimated monthly cost
- $4,558
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $10,253
- Toronto municipal land transfer tax
- $10,253
- Estimated closing costs
- $20,505
Plus your down payment of $137,776. 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
- $176,454
- Principal paid down
- $70,183
- Interest paid
- $106,271
- Balance remaining
- $480,921
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 CONDOWONG REAL ESTATE INC.. MLS®/PropTx.