1402-3 Marine Parade Drive, Toronto, ON
Mimico, Toronto · MLS® W14027528
About this home
In short
- Welcome to Hearthstone by the Bay, where retirement living meets an extraordinary waterfront setting.
- The Mandatory Club Fee of $1,990.85 + HST/month includes a wide range of services and amenities, including $298.40/month in restaurant meal credits, 4 hours of...
- An additional fee of $274.34 + HST/month applies for a second occupant.
Welcome to Hearthstone by the Bay, where retirement living meets an extraordinary waterfront setting. This rarely available south-east corner suite offers spectacular views of Lake Ontario, the Humber River and Toronto's iconic skyline, including the CN Tower and Ontario Place. Imagine settling into the sunroom with your morning coffee and watching the day unfold-the sparkling waters of Lake Ontario, boats and wildlife going by, and the ever-changing skyline stretching beyond. Humber Bay Park & the waterfront trail sit right outside your door, creating a remarkable sense of tranquility and connection to the waterfront.This spacious suite offers two bedrooms, a welcoming family room and a generous living, dining and kitchen area designed for comfortable everyday living. The adjoining sunroom creates a quiet retreat to sit back, relax and take in the spectacular waterfront views. In the kitchen, two picture-perfect windows frame the view, while solid wood cabinetry and an open, airy layout add warmth and character. Both bedrooms feature walk-outs to private balconies, allowing you to enjoy the remarkable views from yet another vantage point.Hearthstone offers a refreshing alternative to traditional retirement living-the freedom of owning your own condominium, paired with the convenience of services and amenities designed to make everyday life easier and more enjoyable. The Mandatory Club Fee of $1,990.85 + HST/month includes a wide range of services and amenities, including $298.40/month in restaurant meal credits, 4 hours of housekeeping per month, 24-hour access to a nurse on duty, fitness classes, a full range of activities and shuttle bus service. Additional services and health care are available à la carte as your needs evolve, providing added comfort and support for the years ahead. An additional fee of $274.34 + HST/month applies for a second occupant.
Key facts
- Property type
- Condo Apartment, Apartment
- MLS®
- W14027528
- Bedrooms
- 2
- Bathrooms
- 2
- Size
- 1000-1199 sq ft
- Cross streets
- Parklawn/Lakeshore
- Parking
- 1 garage (underground)
- Basement
- None
- Heating
- Forced Air
- A/C
- Central Air
- Exterior
- Concrete
- Maintenance
- $1,190/mo
- Exposure
- South East
- Property tax
- $4,335 / 2026
- Days on market
- 2
- Listing brokerage
- Royal Lepage Real Estate Associates, Larose Team
Rooms
broadloom · w/o to balcony · closet
combined w/dining · w/o to balcony · w/o to sunroom
laminate · crown moulding · separate room
south view · overlook water · window floor to ceiling
ceramic floor · overlooks dining · overlook water
broadloom · w/o to balcony · 3 pc ensuite
combined w/living · crown moulding · laminate
Listed at $812,000. Going by how homes in Mimico have actually closed against their asking prices (about 97%, 109 local closings in 90 days), the likely sale price is near $787K, if it sells. A realistic range is $742K to $852K.
Independent value check: $819K. Without looking at the asking price, our model values the home itself in line with the ask (homes like it typically land between $762K and $861K).
Why $819K. The typical condo sold in Mimico over the past year went for about $603K (484 sales). What sets this one apart:
- ▲ Raises it stronglyIts tax bill, which follows the city's own assessment, is $4,335 a year; the typical home sold here pays about $2,800.
- ▲ Raises it stronglyIt is 1,000 to 1,199 sq ft; the typical home sold here is 700 to 799.
- ▲ Raises it2 bedrooms and 2 baths, against 1+1 and 2 typically.
- ▲ Raises itIts maintenance fee is $1,190 a month; the typical unit sold here pays about $750.
Total price vs nearby homes. Likely closing about $787K, from 109 recent closings in this pocket.
The market behind the math:
About 0.8 months of inventory: 28 condo apartment homes for sale in the area against 109 closings in the last 90 days. Under two months favours sellers, over four favours buyers.
Price per square foot: this home lists at $739/sqft against an area asking average of $836/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 109 most comparable recent sales on their own, adjusted for size, beds, baths and lot, point to about $691K. Condition and finishes remain an in-person call.
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.
Based on 21 homes sold in this building over the past two years, from 522 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 $849/sqft; this home lists at $739/sqft. Size is part of the price story, not just the sticker.
The 5 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 469 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 | 36 |
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 16, 2026); conventional rates run a little higher.
Mortgage amount $649,600 · 4.49% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $3,592
- Property tax
- $361
- Condo / maintenance fees
- $1,190
- Heating
- $0
- Estimated monthly cost
- $5,143
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $12,715
- Toronto municipal land transfer tax
- $12,715
- Estimated closing costs
- $25,430
Plus your down payment of $162,400. 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
- $215,505
- Principal paid down
- $79,369
- Interest paid
- $136,136
- Balance remaining
- $570,231
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 6 whole-home leases in Mimico signed at a median of $3,644 a month; adjusted to this home for size, beds and baths, and for where rents stood the month each signed, that is $5,017. 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 Real Estate Associates, Larose Team. MLS®/PropTx.