347-16B Elgin Street, Markham, ON
Thornhill, Markham · MLS® N13782280
About this home
In short
- This spacious 2-storey, 3-bedroom, 2-bathroom condo offers over 1000 sq/ft of open and airy living space, an unbeatable location, and low maintenance fees that...
- The functional main floor features an open-concept kitchen overlooking the generous living and dining areas, with a walkout to a large private balcony - perfect for...
- Ideally located in the heart of Thornhill, just steps to shopping, restaurants, schools, parks, transit, and everyday amenities.
Best value in Thornhill! This spacious 2-storey, 3-bedroom, 2-bathroom condo offers over 1000 sq/ft of open and airy living space, an unbeatable location, and low maintenance fees that include all utilities. The functional main floor features an open-concept kitchen overlooking the generous living and dining areas, with a walkout to a large private balcony - perfect for relaxing or entertaining. Also on the main level is a versatile third bedroom, ideal as a guest room, home office, or nursery. Upstairs, you'll find two generously sized bedrooms, a full bathroom, and a walkout to a second private terrace, providing even more outdoor living space. Laminate flooring runs throughout, creating a clean, carpet-free interior. Ideally located in the heart of Thornhill, just steps to shopping, restaurants, schools, parks, transit, and everyday amenities. Plus, the highly anticipated Yonge North Subway Extension is coming soon, making this an excellent opportunity for homeowners and investors alike.
Key facts
- Property type
- Condo Apartment, Multi-Level
- MLS®
- N13782280
- Bedrooms
- 3
- Bathrooms
- 2 (1 half)
- Size
- 1000-1199 sq ft
- Cross streets
- Yonge & Elign St.
- Parking
- 1 garage (underground)
- Basement
- None
- Heating
- Forced Air
- A/C
- Central Air
- Exterior
- Brick
- Maintenance
- $772/mo
- Exposure
- South West
- Property tax
- $2,284 / 2025
- Days on market
- 35
- Listing brokerage
- KELLER WILLIAMS REFERRED URBAN REALTY
Rooms
laminate · closet
laminate · large closet · picture window
laminate · walk-in closet(s) · w/o to balcony
laminate · w/o to balcony · overlooks dining
laminate · overlooks living · eat-in kitchen
laminate · double closet · 2 pc bath
separate room · b/i shelves
tile floor · stainless steel appl · granite counters
Listed at $599,999, about 11% above our estimate of $542K (homes like it typically land between $504K and $570K).
Why $542K. The typical condo sold in Thornhill over the past year went for about $565K (38 sales). What sets this one apart:
- ▲ Raises it slightlyIt is 1,000 to 1,199 sq ft; the typical home sold here is 900 to 999.
Total price vs nearby homes. Fair value about $542K, learned from recent GTA sales.
The market behind the math:
About 5 months of inventory: 5 condo apartment homes for sale in the area against 3 closings in the last 90 days. Under two months favours sellers, over four favours buyers.
Price per square foot: this home lists at $546/sqft against an area asking average of $452/sqft.
How this estimate is builtthe short version
This figure comes from a model built on about 44,000 recent GTA sales. It weighs this home’s tax assessment, size, age, location and features against what homes like it actually sold for, including sales in this neighbourhood and this building.
It never sees the asking price. The 13 most comparable recent sales on their own, adjusted for size, beds, baths and lot, point to about $556K. Condition and finishes remain an in-person call.
What the listing highlights2 points to weigh
Claims from the listing, worth confirming in person. I can book you a private showing.
- Open-concept layout: modern, sought-after flow. Lifestyle
- Transit / schools nearby: convenience and resale support, verify the exact distances and school catchment. Value driver
Read this with carewhy it’s an estimate, not an appraisal
There were not many closely comparable homes right in Thornhill, so I widened the search to the surrounding area.
Based on 13 homes sold in this building over the past two years, from 35 closings in Thornhill.
Nothing closely matching this home is listed nearby right now, so these are the nearest condo apartment listings on the market. Homes like this one have recently closed around $542K, which is where my estimate comes from.
Per square foot, these ask about $452/sqft; this home lists at $546/sqft. Size is part of the price story, not just the sticker.
The 5 closest active listings nearby.
See all comparable homesSold price trend
Median sold price for condos in Markham: $533K in September 2026, down 10% from a year ago, on 676 closings in 12 months.
Line: median sold price, each month averaged with its neighbours and weighted by closings. Bars: closings that month. Markham as a whole: the neighbourhood alone has too few closings for a line of its own.
Month by month
| Month | Median sold | Closings |
|---|---|---|
| October 2025 | $600K | 61 |
| November 2025 | $610K | 53 |
| December 2025 | $627K | 34 |
| January 2026 | $583K | 40 |
| February 2026 | $550K | 53 |
| March 2026 | $564K | 54 |
| April 2026 | $573K | 68 |
| May 2026 | $563K | 52 |
| June 2026 | $579K | 88 |
| July 2026 | $528K | 61 |
| August 2026 | $552K | 60 |
| September 2026 | $533K | 52 |
Neighbourhood & location
Thornhill, Markham, 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). Markham.
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 4.34% via Ratehub.ca (as of October 19, 2026); conventional rates run a little higher.
Mortgage amount $479,999 · 4.49% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $2,654
- Property tax
- $190
- Condo / maintenance fees
- $772
- Heating
- $0
- Estimated monthly cost
- $3,616
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $8,475
- Estimated closing costs
- $8,475
Plus your down payment of $120,000. 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
- $159,240
- Principal paid down
- $58,647
- Interest paid
- $100,593
- Balance remaining
- $421,352
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 numbersThe last 5 whole-home leases in Thornhill signed at a median of $3,061 a month; adjusted to this home for size, beds and baths, and for where rents stood the month each signed, that is $3,059. The gross yield above is on the asking price, before taxes and upkeep; the cap rate is after them. A finished basement or second suite can push real rent above it. Taxes, fees, and vacancy vary by property, and cap rate is before financing.
Helpful resources
All information deemed reliable but not guaranteed. For personal, non-commercial use only. Listing courtesy of KELLER WILLIAMS REFERRED URBAN REALTY. MLS®/PropTx.