423-505 Richmond Street, Toronto, ON
Trinity-Bellwoods, Toronto · MLS® C13588392
About this home
Experience the pinnacle of downtown luxury at WaterWorks Condos in the heart of the Fashion District! Most Desirable Neighborhood! Cozy 1 Bed unit featuring soaring 10-foot ceilings, rich hardwood flooring Hardwood Flooring Throughout, and expansive floor-to-ceiling windows flooding the space with natural light. Sleek Kitchen equipped with built-in appliances, quartz counters, and a central island. Step out to your private open-air balcony with North exposure. Unmatched building amenities include a state-of-the-art gym with YMCA access, a gorgeous rooftop terrace, 24-hour concierge, and Toronto's famous WaterWorks Food Hall right on the ground level. Steps to Queen West shopping, St. Andrew's Park, transit, and the Financial District.
Key facts
- Property type
- Condo Apartment, Apartment
- MLS®
- C13588392
- Bedrooms
- 1
- Bathrooms
- 1
- Size
- 0-499
- Cross streets
- Richmond Street West & Spadina Avenue
- Parking
- 0 parking
- Basement
- None
- Heating
- Forced Air
- A/C
- Central Air
- Exterior
- Concrete
- Maintenance
- $472/mo
- Exposure
- North
- Property tax
- $2,432 / 2026
- Days on market
- 2
- Listing brokerage
- VIP REALTY GROUP INC.
Rooms
4 Pc Bath
closet · window
combined w/dining · combined w/family · w/o to balcony
Listed at $599,900, and my independent estimate is right in line with comparable homes.
In Trinity-Bellwoods lately, sellers get about 100% of asking; homes sell in ~31 days · prices down 1% YoY.
Total price vs nearby homes. Fair value about $619K, median of 11 comparables.
How this estimate is builtthe short version
I take the 11 most comparable recent sales nearby and adjust each one to this home for the real differences (size, beds, baths, garage, and standout features), then use the median, which is steadier than leaning on any single sale.
It’s grounded in recent closing prices, not asking prices. Lot, condition, and finishes are my in-person call, and the city (MPAC) assessment points to about $531K, a bit lower.
What the listing highlights2 points to weigh
Claims from the listing, worth confirming in person. I can 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
Read this with carewhy it’s an estimate, not an appraisal
There were not many closely comparable homes right in Trinity-Bellwoods, so I widened the search to the surrounding area.
Based on 11 comparable homes that recently sold nearby.
The closest active listings by size, beds, and price, so you can see what this home is up against.
The 5 closest active listings nearby.
See all comparable homesOn the market now.
View comparable listingsPrice per square foot vs the area average.
Neighbourhood & location
Trinity-Bellwoods, 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 24, 2026); conventional rates run a little higher.
Mortgage amount $479,920 · 4.14% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $2,561
- Property tax
- $203
- Condo / maintenance fees
- $472
- Heating
- $0
- Estimated monthly cost
- $3,236
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $8,473
- Toronto municipal land transfer tax
- $8,473
- Estimated closing costs
- $16,946
Plus your down payment of $119,980. 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
- $153,662
- Principal paid down
- $61,118
- Interest paid
- $92,544
- Balance remaining
- $418,802
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 VIP REALTY GROUP INC.. MLS®/PropTx.