3200-38 Elm Street, Toronto, ON
Bay Street Corridor, Toronto · MLS® C13591362
About this home
One-Bedroom Luxury Condo at Bay and Elm in Downtown Toronto. Bright Unit with Ample Sunlight and Breathtaking NW Views, Separate Kitchen with Stainless-Steel Appliances and Oven. Featuring Large Bedroom with Walk-In Closet, Large Bathroom with both Bathtub and Shower. One Locker Included, No Parking. Prime Location Within Walking Distance to Subway, Universities, Hospitals, Restaurants and Eaton Centre. Building Amenities Include a 24-hour Concierge, Gym, Party Room, Indoor Pool with Sauna, Kids Room and More. All Utilities are Included; Only Internet and Cable TV are extra. Strictly No Pets Allowed as Per Condo Building Rules.
Key facts
- Property type
- Condo Apartment, Apartment
- MLS®
- C13591362
- Bedrooms
- 1
- Bathrooms
- 1
- Size
- 700-799
- Cross streets
- Bay St and Elm St
- Parking
- 0 parking
- Basement
- None
- Heating
- Baseboard
- A/C
- Central Air
- Exterior
- Concrete
- Maintenance
- $910/mo
- Exposure
- North West
- Property tax
- $2,986 / 2025
- Listing brokerage
- URBANOMA INC.
Rooms
stainless steel appl · separate room · tile floor
walk-in closet(s) · nw view · large window
combined w/living · open concept · laminate
Separate Room
Mirrored Closet
combined w/dining · open concept · laminate
Listed at $525,000, this home is about 15% below comparable homes, worth a close look. 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 31 days.
Based on 81 similar homes that recently sold nearby, adjusted for size, beds, and baths.Median of 81 recently sold comparable homes — actual closing prices, not asks — adjusted for size, beds, and baths. The city (MPAC) assessment points to about $517K, 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 $510K
- Bedrooms −$30K
- Adjusts to $480K
That comparable adjusts to $480K; the $619K estimate above is the median of all 81 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.
On location, this is a very walkable address with everyday errands close by. Elm Street is about a 1-minute walk away. Walkable, transit-friendly spots tend to hold value and widen your resale pool.
Total price vs nearby homes. Fair value about $619K, median of 81 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 27% below the area average of $953/sqft.
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.
Getting around
Walker's ParadiseA walkability read built from the amenities around this home: how close the nearest transit stop is, and how many grocery, dining, park, and pharmacy destinations fall within a 15-minute walk. It is a guide, not a guarantee. Places data from Google.
Most daily errands can be done on foot.
🚉 Nearest transit: Elm Street, about 82 m away
Within a 15-minute (1.5 km) walk.
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 22, 2026); conventional rates run a little higher.
Mortgage amount $420,000 · 4.14% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $2,241
- Property tax
- $249
- Condo / maintenance fees
- $910
- Heating
- $0
- Estimated monthly cost
- $3,400
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $6,975
- Toronto municipal land transfer tax
- $6,975
- Estimated closing costs
- $13,950
Plus your down payment of $105,000. 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
- $134,477
- Principal paid down
- $53,487
- Interest paid
- $80,989
- Balance remaining
- $366,513
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 URBANOMA INC.. MLS®/PropTx.