321-689 The Queensway, Toronto, ON
Stonegate-Queensway, Toronto · MLS® W13766374
About this home
NEW AND IMPROVED PRICE ADJUSTMENT! Welcome home to this 675 sqft 1 bed + den residence in Etobicoke's newest boutique landmark, Reina Condos - recently featured in the Globe and Mail for its thoughtful, livability-focused design. As the largest one-bedroom floorplan in the building, this thoughtfully laid out unit boasts a bright, open living area with floor-to-ceiling windows, upgraded semi-sheer blinds for pivacy, and extensive space for entertaining and relaxing. The versatile den features a sliding door providing a private retreat for a home office or second bedroom. At the heart of the home is a chef-inspired cooktop. The custom-built island with solid wood counters and seating offers flexible counter space for cooking and entertaining while providng significant additional under-counter storage. The primary bedroom showcases tranqulity and elegance with blackout blinds and a custom walk-in closet with ample storage and in-closet lighting opening directly into a private en-suite washroom finished in floor-to-ceiling marble tile with a full-size stacked washer/dryer. An at-grade parking permit is available with the unit, along with below-grade visitor parking for guests. Reina is an ownership-driven building offering a true sense of comminuty anchored by a great fitness centre along with a kids' play area, yoga rooom, outdoor barbeque, pet wash, and a stylish party room. Located on the The Queensway you're steps from iconic spots like San Remo Bakery and Tom's Dairy Freeze, with Mimico Go, Royal York TTC Station, and the Gardiner nearby. Experience modern, community-happy, expansive living at Reina Condos.
Key facts
- Property type
- Condo Apartment, Apartment
- MLS®
- W13766374
- Bedrooms
- 1+1 (2 total)
- Bathrooms
- 1
- Size
- 600-699 sq ft
- Cross streets
- The Queensway / Royal York Road
- Parking
- 0 parking
- Basement
- None
- Heating
- Heat Pump
- A/C
- Central Air
- Exterior
- Concrete
- Maintenance
- $419/mo
- Exposure
- North
- Property tax
- $2,366 / 2026
- Days on market
- 39
- Listing brokerage
- ROYAL LEPAGE RCR REALTY
Rooms
Sliding Doors
vinyl floor · window floor to ceiling
walk-in closet(s) · balcony
combined w/dining · b/i appliances · centre island
4 pc ensuite · combined w/laundry
Listed at $499,900. Going by how homes in Stonegate-Queensway and the wider GTA have actually closed against their asking prices (about 98%, 9 local closings in 90 days), the likely sale price is near $488K, if it sells. A realistic range is $460K to $528K.
Independent value check: $482K. Without looking at the asking price, our model values the home itself about 4% below the ask (homes like it typically land between $448K and $506K).
Why $482K. The typical condo sold in Stonegate-Queensway over the past year went for about $605K (51 sales). What sets this one apart:
- ▼ Lowers it strongly1+1 bedrooms and 1 baths, against 2+1 and 2 typically.
- ▼ Lowers itIts tax bill, which follows the city's own assessment, is $2,366 a year; the typical home sold here pays about $3,100.
- ▼ Lowers itIt is 600 to 699 sq ft; the typical home sold here is 800 to 899.
- ▲ Raises itThe listing describes it as fully renovated or newly built.
Longer on the market than typical. 39 days on the market against about 25 for homes like it here, and asking 4% above where comparable closings put it.
Total price vs nearby homes. Likely closing about $488K, from 9 recent closings in this pocket.
The market behind the math:
About 4.7 months of inventory: 14 condo apartment homes for sale in the area against 9 closings in the last 90 days. Under two months favours sellers, over four favours buyers.
Price per square foot: this home lists at $770/sqft against an area asking average of $749/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 9 most comparable recent sales on their own, adjusted for size, beds, baths and lot, point to about $510K. Condition and finishes remain an in-person call.
Schools & getting aroundcatchment and transit
Its public catchment (Etobicoke Collegiate Institute) tests around the provincial average, a steady, family-friendly draw. The full EQAO breakdown is below.
Based on 3 homes sold in this building over the past two years, plus 2 nearby in Stonegate-Queensway, from 106 closings in Stonegate-Queensway.
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 $792/sqft; this home lists at $770/sqft. Size is part of the price story, not just the sticker.
The 3 closest active listings nearby.
See all comparable homesSold price trend
Median sold price for condos in Toronto: $540K in September 2026, down 4% from a year ago, on 10,804 closings in 12 months.
Line: median sold price, each month averaged with its neighbours and weighted by closings. Bars: closings that month. Toronto 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 | $589K | 1052 |
| November 2025 | $569K | 834 |
| December 2025 | $545K | 659 |
| January 2026 | $565K | 593 |
| February 2026 | $575K | 722 |
| March 2026 | $565K | 974 |
| April 2026 | $565K | 1042 |
| May 2026 | $560K | 1011 |
| June 2026 | $558K | 1120 |
| July 2026 | $560K | 1030 |
| August 2026 | $548K | 882 |
| September 2026 | $540K | 885 |
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.
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 4.34% via Ratehub.ca (as of October 20, 2026); conventional rates run a little higher.
Mortgage amount $399,920 · 4.49% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $2,211
- Property tax
- $197
- Condo / maintenance fees
- $419
- Heating
- $0
- Estimated monthly cost
- $2,827
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $6,473
- Toronto municipal land transfer tax
- $6,473
- Estimated closing costs
- $12,946
Plus your down payment of $99,980. 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
- $132,674
- Principal paid down
- $48,863
- Interest paid
- $83,811
- Balance remaining
- $351,057
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 12 whole-home leases in Stonegate-Queensway signed at a median of $2,769 a month; adjusted to this home for size, beds and baths, and for where rents stood the month each signed, that is $2,368. 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 ROYAL LEPAGE RCR REALTY. MLS®/PropTx.