1604-251 Manitoba Street, Toronto, ON
Mimico, Toronto · MLS® W13731682
About this home
In short
- Welcome to Phoenix Condos by award-winning Empire Communities.
- Approx 900 sq ft total living space (790 sq ft interior + 110 sq ft balcony) featuring 2 beds, 2 baths, and Office Layout. .
- Never leased & 100% owner-occupied with over $110K spent on premium, highly functional custom upgrades for end-user comfort.
- Enjoy airy 9-ft ceilings and seamless wood flooring throughout.
- Expansive floor-to-ceiling windows and large private balcony offer breathtaking, unobstructed views of Lake Ontario, the 12-acre Grand Avenue Park, and evening sunsets.
Welcome to Phoenix Condos by award-winning Empire Communities! Approx 900 sq ft total living space (790 sq ft interior + 110 sq ft balcony) featuring 2 beds, 2 baths, and Office Layout. . Never leased & 100% owner-occupied with over $110K spent on premium, highly functional custom upgrades for end-user comfort.Enjoy airy 9-ft ceilings and seamless wood flooring throughout. Expansive floor-to-ceiling windows and large private balcony offer breathtaking, unobstructed views of Lake Ontario, the 12-acre Grand Avenue Park, and evening sunsets. Modern kitchen, spa-inspired baths, and dedicated work-from-home space.Unbeatable location-steps to Starbucks, supermarkets, waterfront trails, dining, and transit. A turnkey gem with world-class views!
Key facts
- Property type
- Condo Apartment, Apartment
- MLS®
- W13731682
- Bedrooms
- 2+1 (3 total)
- Bathrooms
- 2
- Size
- 700-799 sq ft
- Cross streets
- Lake Shore Blvd W & Park Lawn Road
- Parking
- 1 garage (underground)
- Basement
- None
- Heating
- Heat Pump
- A/C
- Central Air
- Exterior
- Concrete
- Maintenance
- $605/mo
- Exposure
- South East
- Property tax
- $3,299 / 2026
- Days on market
- 20
- Listing brokerage
- BAY STREET GROUP INC.
Rooms
open concept · laminate
3 pc ensuite · double closet · window floor to ceiling
large closet · laminate
w/o to balcony · open concept · window floor to ceiling
stainless steel appl · window floor to ceiling · overlooks living
window floor to ceiling · large closet · laminate
Listed at $789,000. Recent sales of homes like it put this one around $651K, so the ask is about 21% above what similar homes have sold for.
If it sells at this ask, expect about $764K, typically $743K to $777K: that is where homes here have closed against their asks in the last 90 days (106 closings).
The ask and what recent sales support disagree. When they differ this much, the asking price has been the closer guide about 87% of the time. Recent GTA homes first listed this far above their automated estimate sold at about 95% of the original ask, in a median 36 days, 26% of them after a price reduction (750 sales).
Total price vs nearby homes. Fair value about $651K, learned from recent GTA sales.
The market behind the math:
About 1.4 months of inventory: 49 condo apartment homes for sale in the area against 106 closings in the last 90 days. Under two months favours sellers, over four favours buyers.
Price per square foot: this home lists at $1,053/sqft against an area asking average of $874/sqft. Size and $/sqft both feed the estimate above.
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 12 most comparable recent sales on their own, adjusted for size, beds, baths and lot, point to about $607K. Condition and finishes remain an in-person call.
What the listing highlights1 point to weigh
Claims from the listing, worth confirming in person. I can book you a private showing.
- Currently tenanted: confirm the lease terms and vacant-possession timing before closing. Worth verifying
Schools & getting aroundcatchment and transit
The assigned public school is George R Gauld Junior School. EQAO is only one input, and families here also look at French Immersion, boundary, and private options, the full breakdown is below.
Based on 12 homes sold in this building over the past 14 months, from 499 closings in Mimico.
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 $906/sqft; this home lists at $1,053/sqft. Size is part of the price story, not just the sticker.
The 3 closest active listings nearby.
See all comparable homesNeighbourhood & location
Mimico, Toronto, 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). 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.
Also nearby: 12 more schools within 2.5 km
Not the assigned catchment: schools a family here could reach, with EQAO results where published.
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 4.24% via Ratehub.ca (as of September 21, 2026); conventional rates run a little higher.
Mortgage amount $631,200 · 4.39% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $3,455
- Property tax
- $275
- Condo / maintenance fees
- $605
- Heating
- $0
- Estimated monthly cost
- $4,335
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $12,255
- Toronto municipal land transfer tax
- $12,255
- Estimated closing costs
- $24,510
Plus your down payment of $157,800. 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
- $207,302
- Principal paid down
- $78,043
- Interest paid
- $129,258
- Balance remaining
- $553,157
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 22 whole-home leases in Mimico signed at a median of $2,350 a month; adjusted to this home for size, beds and baths, and for where rents stood the month each signed, that is $2,925. 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 BAY STREET GROUP INC.. MLS®/PropTx.