518-7 Smith Crescent, Toronto, ON
Stonegate-Queensway, Toronto · MLS® W12853894
About this home
Welcome to Queensway Park Condos at 7 Smith Cres, a well-managed 9-storey low-rise residence in the heart of South Etobicoke, offering a quieter and more private living environment, surrounded by parks and everyday conveniences.This bright south-facing suite features 10-foot ceilings, floor-to-ceiling windows, and a highly efficient open-concept layout that maximizes space for living, dining, working from home, and entertaining. Extensive upgrades and high-end finishes throughout are complemented by a rare walk-in closet, ample in-suite storage, and custom built-in blinds for added privacy.Enjoy outdoor living on a large open balcony with nice open view. Residents have access to excellent amenities including gym, concierge, visitor parking, party room, hobby room, dog wash station, kids' playroom, and more.Steps to transit, walk to Costco, parks, and shops, with quick access to GO Station, Gardiner Expressway, and Highway 427, and an easy bike ride to Humber Bay Park and the waterfront. Located in a family-friendly neighbourhood with access to established schools and community facilities.A rare opportunity for quality condo living in Etobicoke.
Key facts
- Property type
- Condo Apartment, Apartment
- MLS®
- W12853894
- Bedrooms
- 1
- Bathrooms
- 1
- Size
- 500-599
- Cross streets
- Royal York/Queensway
- Parking
- 0 parking
- Basement
- None
- Heating
- Fan Coil
- A/C
- Central Air
- Exterior
- Aluminum Siding
- Maintenance
- $406/mo
- Exposure
- South
- Property tax
- $2,443 / 2025
- Days on market
- 133
- Listing brokerage
- RE/MAX REALTRON REALTY INC.
Listed at $499,950, this home is about 18% above what comparable homes suggest. The number above is my independent estimate of value, not the asking price.
Based on 11 similar homes nearby, adjusted for size, beds, and baths.Median of 11 comparable active listings, adjusted for size, beds, and baths. The city (MPAC) assessment points to about $498K, a bit higher.
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, listed at $440K
- Adjusts to $440K
That comparable adjusts to $440K; the $425K estimate above is the median of all 11 comparables, which is steadier than any single home.This uses comparable active listings, not sold prices. Lot, condition, and finishes are my in-person call, and I can run a full CMA with recent solds.
Its public catchment (Castlebar Junior 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. The Queensway at Taymall Ave is about a 2-minute walk away. Walkable, transit-friendly spots tend to hold value and widen your resale pool.
Total price vs nearby homes. Fair value about $425K, median of 11 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.
- Tall ceilings: they transform how a home feels, worth confirming the actual heights room to room.
- Open-concept layout: modern, sought-after flow.
- Transit / schools nearby: convenience and resale support, verify the exact distances and school catchment.
- Worth verifying
- Lifestyle
- Value driver
The closest active listings by size, beds, and price, so you can see what this home is up against.
The 4 closest active listings nearby.
See all comparable homesThis home lists 14% above the area average of $798/sqft.
On the market now.
View comparable listingsPrice per square foot vs the area average.
Neighbourhood & location
Stonegate-Queensway, Toronto, ON
Enter a workplace or destination and we’ll show the door-to-door time by car, transit and bike.
Getting around
Very WalkableA 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: The Queensway at Taymall Ave, about 158 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 17, 2026); conventional rates run a little higher.
Mortgage amount $399,960 · 4.14% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $2,134
- Property tax
- $204
- Condo / maintenance fees
- $406
- Heating
- $0
- Estimated monthly cost
- $2,744
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $6,474
- Toronto municipal land transfer tax
- $6,474
- Estimated closing costs
- $12,948
Plus your down payment of $99,990. 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
- $128,060
- Principal paid down
- $50,935
- Interest paid
- $77,125
- Balance remaining
- $349,025
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 RE/MAX REALTRON REALTY INC.. MLS®/PropTx.