707-38 Annie Craig Drive, Toronto, ON
Mimico, Toronto · MLS® W13842558
About this home
In short
- Welcome to Waters Edge at The Cove, a spectacular 56-storey condominium offering an exceptional lifestyle on the majestic shores of Humber Bay.
- This approximately 507 sg. ft. one-bedroom plus den suite features a stunning wrap-around Balcony, offering panoramic views and an ideal space to relax or entertain.
- The bright, open-concept living, dining, and kitchen area features sleek laminate flooring and a contemporary kitchen with custom quartz countertops, creating a...
- Residents can enjoy an impressive selection of amenities, including a 24-hour concierge, elegant lobby, indoor swimming pool, state-of-the-art fitness centre...
Welcome to Waters Edge at The Cove, a spectacular 56-storey condominium offering an exceptional lifestyle on the majestic shores of Humber Bay. Located in one of Toronto's most sought-after water front communities, this residence combines modern elegance, breathtaking views, and resort-style amenities. This approximately 507 sg. ft. one-bedroom plus den suite features a stunning wrap-around Balcony, offering panoramic views and an ideal space to relax or entertain. The unit includes one parking space and one locker. The bright, open-concept living, dining, and kitchen area features sleek laminate flooring and a contemporary kitchen with custom quartz countertops, creating a stylish and functional space for everyday living. Residents can enjoy an impressive selection of amenities, including a 24-hour concierge, elegant lobby, indoor swimming pool, state-of-the-art fitness centre, hotel-inspired guest suites, and an elegant party room-perfect for entertaining family and friends.
Key facts
- Property type
- Condo Apartment, Multi-Level
- MLS®
- W13842558
- Bedrooms
- 1+1 (2 total)
- Bathrooms
- 1
- Size
- 500-599 sq ft
- Cross streets
- Lakeshore/Parklawn
- Parking
- 1 parking
- Basement
- None
- Heating
- Forced Air
- A/C
- Central Air
- Exterior
- Concrete
- Maintenance
- $339/mo
- Exposure
- South
- Days on market
- 19
- Listing brokerage
- RE/MAX REALTY SERVICES INC.
Rooms
Laminate
stainless steel appl · quartz counter
balcony · closet
Balcony
Listed at $480,000 with no offer date. Going by how homes here have actually closed against their asks, the likely sale price is $465K, typically $438K to $504K. Comparable closings on their own put this home around $463K, which supports the ask, so this is a firm read.
Total price vs nearby homes. Likely closing about $465K, from 105 recent closings in this pocket.
The market behind the math:
About 2.7 months of inventory: 96 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 $874/sqft against an area asking average of $900/sqft.
How this estimate is builtthe short version
I take the 105 most comparable recent sales nearby and adjust each one to this home for the real differences (size, beds, baths, garage, lot frontage, a ravine backing, an inground pool), then use the median, which is steadier than leaning on any single sale.
It’s grounded in recent closing prices, not asking prices. Lot, condition, and finishes are my 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
- Open-concept layout: modern, sought-after flow. Lifestyle
Schools & getting aroundcatchment and transit
The assigned public school is Étienne Brûlé Junior School. EQAO is only one input, and families here also look at French Immersion, boundary, and private options, the full breakdown is below.
Read this with carewhy it’s an estimate, not an appraisal
There were not many closely comparable homes right in Mimico, so I widened the search to the surrounding area.
Based on 105 comparable homes that sold in Mimico over the past 14 months, from 499 closings there.
For sale
For sale
For sale
For sale
For sale
For sale
For sale
For saleNothing 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 $463K, which is where my estimate comes from.
Per square foot, these ask about $861/sqft; this home lists at $874/sqft. Size is part of the price story, not just the sticker.
The 5 closest of 8 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: 9 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 $384,000 · 4.49% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $2,123
- Estimated property tax
- $300
- Condo / maintenance fees
- $339
- Heating
- $0
- Estimated monthly cost
- $2,762
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $6,075
- Toronto municipal land transfer tax
- $6,075
- Estimated closing costs
- $12,150
Plus your down payment of $96,000. 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
- $127,392
- Principal paid down
- $46,918
- Interest paid
- $80,474
- Balance remaining
- $337,082
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 10 whole-home leases in Mimico signed at a median of $2,400 a month; adjusted to this home for size, beds and baths, and for where rents stood the month each signed, that is $2,350. 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 RE/MAX REALTY SERVICES INC.. MLS®/PropTx.