1507-56 Annie Craig Drive, Toronto, ON
Mimico, Toronto · MLS® W13841120
About this home
In short
- Experience urban luxury at Lago at the Waterfront in this exceptional 1 bedroom + den corner suite, offering 600 sq ft of interior living space and an expansive 245...
- Soaring 9' floor-to-ceiling windows fill the suite with natural light, freshly painted, while sleek flooring flows throughout.
- The thoughtfully designed interior features a spacious bedroom with closet organizer, den, custom vertical blinds, and a 2024 washer.
- Enjoy an impressive collection of resort-style amenities, including a 24-hour concierge, indoor pool, hot tub, sauna, fully equipped gym, yoga room, theatre room...
- The heat pump unit supply lines have been upgraded to stainless steel braided hoses in 2025.
Experience urban luxury at Lago at the Waterfront in this exceptional 1 bedroom + den corner suite, offering 600 sq ft of interior living space and an expansive 245 sq ft wraparound balcony. Enjoy breathtaking, west and unobstructed north-facing views from your private outdoor retreat, with walkouts from both the living room and primary bedroom. Soaring 9' floor-to-ceiling windows fill the suite with natural light, freshly painted, while sleek flooring flows throughout. The thoughtfully designed interior features a spacious bedroom with closet organizer, den, custom vertical blinds, and a 2024 washer. Enjoy an impressive collection of resort-style amenities, including a 24-hour concierge, indoor pool, hot tub, sauna, fully equipped gym, yoga room, theatre room, party room, billiard lounge, car wash, dog wash station, bike storage rooms, visitor parking. The heat pump unit supply lines have been upgraded to stainless steel braided hoses in 2025. A sophisticated waterfront lifestyle with exceptional views, abundant amenities, and seamless indoor-outdoor living.
Key facts
- Property type
- Condo Apartment, 1 Storey/Apt
- MLS®
- W13841120
- Bedrooms
- 1+1 (2 total)
- Bathrooms
- 1
- Size
- 600-699 sq ft
- Cross streets
- Lakeshore Blvd W & Parklawn Rd
- Parking
- 1 garage (underground)
- Basement
- None
- Heating
- Forced Air
- A/C
- Central Air
- Exterior
- Concrete
- Maintenance
- $564/mo
- Exposure
- North West
- Property tax
- $2,692 / 2026
- Days on market
- 20
- Listing brokerage
- RIGHT AT HOME REALTY
Rooms
combined w/kitchen · laminate
w/o to balcony · mirrored closet · laminate
Laminate
w/o to balcony · combined w/dining · laminate
stainless steel appl · open concept · laminate
Listed at $588,000. Going by how homes in Mimico have actually closed against their asking prices (about 97%, 105 local closings in 90 days), the likely sale price is near $570K, if it sells. A realistic range is $537K to $617K.
Independent value check: $540K. Without looking at the asking price, our model values the home itself about 8% below the ask (homes like it typically land between $502K and $568K).
Why $540K. The typical condo sold in Mimico over the past year went for about $603K (484 sales). What sets this one apart:
- ▼ Lowers it1+1 bedrooms and 1 baths, against 1+1 and 2 typically.
- ▼ Lowers it slightlyIt is 600 to 699 sq ft; the typical home sold here is 700 to 799.
- ▲ Raises it slightlyIts maintenance fee is $564 a month; the typical unit sold here pays about $750.
Total price vs nearby homes. Likely closing about $570K, from 105 recent closings in this pocket.
The market behind the math:
About 0.1 months of inventory: 5 condo apartment homes for sale in the area against 105 closings in the last 90 days. Under two months favours sellers, over four favours buyers.
Price per square foot: this home lists at $905/sqft against an area asking average of $780/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 105 most comparable recent sales on their own, adjusted for size, beds, baths and lot, point to about $513K. 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.
- Pool: lifestyle appeal, but adds maintenance, insurance, and resale is mixed. Weigh carefully
- Tall ceilings: they transform how a home feels, worth confirming the actual heights room to room. Worth verifying
Schools & getting aroundcatchment and transit
The assigned public school is John English Junior Middle 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 18 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 $788/sqft; this home lists at $905/sqft. Size is part of the price story, not just the sticker.
The 4 closest active listings nearby.
See all comparable homesSold price trend
Median sold price for condos in Mimico: $560K in September 2026, up 1% from a year ago, on 470 closings in 12 months.
Line: median sold price, each month averaged with its neighbours and weighted by closings. Bars: closings that month.
Month by month
| Month | Median sold | Closings |
|---|---|---|
| October 2025 | $610K | 43 |
| November 2025 | $580K | 37 |
| December 2025 | $650K | 31 |
| January 2026 | $592K | 30 |
| February 2026 | $605K | 31 |
| March 2026 | $645K | 48 |
| April 2026 | $642K | 48 |
| May 2026 | $610K | 30 |
| June 2026 | $602K | 49 |
| July 2026 | $695K | 41 |
| August 2026 | $595K | 45 |
| September 2026 | $560K | 37 |
Neighbourhood & 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: 10 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 $470,400 · 4.49% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $2,601
- Property tax
- $224
- Condo / maintenance fees
- $564
- Heating
- $0
- Estimated monthly cost
- $3,389
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $8,235
- Toronto municipal land transfer tax
- $8,235
- Estimated closing costs
- $16,470
Plus your down payment of $117,600. 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
- $156,055
- Principal paid down
- $57,474
- Interest paid
- $98,581
- Balance remaining
- $412,926
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 18 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 $2,563. 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 RIGHT AT HOME REALTY. MLS®/PropTx.