3612-195 Commerce Street, Vaughan, ON
Vaughan Corporate Centre, Vaughan · MLS® N13728630
About this home
New Studio at Festival Condos Prime Vaughan Location!Welcome to this brand-new studio suite at Festival Condos, perfectly situated in the heart of Vaughan. Enjoy unbeatable convenience with Vaughan Metropolitan Centre Subway Station just steps away, providing easy access to transit and everything the city has to offer.This modern community features an impressive array of amenities, including an indoor pool, fully equipped gym, party room, music room, sports bar, social club, kids' play area, and much more.Ideally located close to major shopping, dining, and entertainment destinations, including IKEA, Costco, Walmart, Cineplex, YMCA, and an incredible selection of restaurants. With everything you need right at your doorstep, this is an excellent opportunity for first-time buyers, professionals, students, or investors looking for modern urban living in one of Vaughan's most desirable locations.Don't miss this opportunity to live, invest, and enjoy the ultimate in convenience and lifestyle at Festival Condos!
Key facts
- Property type
- Condo Apartment, Apartment
- MLS®
- N13728630
- Bathrooms
- 1
- Size
- 0-499
- Cross streets
- Highway 7/ Highway 400
- Parking
- 0 parking
- Basement
- None
- Heating
- Forced Air
- A/C
- Central Air
- Exterior
- Brick
- Maintenance
- $251/mo
- Exposure
- North
- Property tax
- $2,023 / 2026
- Listing brokerage
- HOMELIFE/MIRACLE REALTY LTD
Rooms
4 Pc Bath
Listed at $294,500, and my independent estimate is about 26% below comparable homes, worth a close look.
Total price vs nearby homes. Fair value about $399K, median of 7 comparables.
The market behind the math:
Price per square foot: this home lists at $1,180/sqft against an area asking average of $1,578/sqft. Size and $/sqft both feed the estimate above.
How this estimate is builtthe short version
I take the 7 most comparable recent listings 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 listing.
It’s grounded in comparable active listings. Lot, condition, and finishes are my in-person call, and the city (MPAC) assessment points to about $331K, a bit lower.
What the listing highlights1 point to weigh
Claims from the listing, worth confirming in person. I can book you a private showing.
- Pool: lifestyle appeal, but adds maintenance, insurance, and resale is mixed. Weigh carefully
Based on 7 comparable homes nearby.
The closest active listings by size, beds, and price, so you can see what this home is up against.
Per square foot, these ask about $1,504/sqft; this home lists at $1,180/sqft. Size is part of the price story, not just the sticker.
The 5 closest of 7 active listings nearby.
See all comparable homesNeighbourhood & location
Vaughan Corporate Centre, Vaughan, 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). Vaughan.
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 4.09% via Ratehub.ca (as of August 31, 2026); conventional rates run a little higher.
Mortgage amount $235,600 · 4.24% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $1,270
- Property tax
- $169
- Condo / maintenance fees
- $251
- Heating
- $0
- Estimated monthly cost
- $1,690
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $2,893
- Estimated closing costs
- $2,893
Plus your down payment of $58,900. 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
- $76,209
- Principal paid down
- $29,652
- Interest paid
- $46,557
- Balance remaining
- $205,948
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 HOMELIFE/MIRACLE REALTY LTD. MLS®/PropTx.