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Royal LePage Signature Connect.ca Realty logo

Ryan Coyle

Broker of Record

Royal LePage Signature Connect.ca Realty

495 Wellington Street West Suite 100

Phone: 416-800-9272

Listing data is provided under license from the Toronto Regional Real Estate Board (TRREB). TRREB assumes no responsibility for the accuracy of the information contained herein. Data is updated periodically and may not reflect the most current market activity. Not intended to solicit buyers or sellers currently under contract. MLS®, REALTOR®, and the associated logos are certification marks owned by the Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA.

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Home/The Addison Condos/Velvet

Velvet

Available

$973,990

$1,519/sq ft

2 Bed·1.0 Bath·641 sq ft·East·$1,519/sq ft

Bedrooms

2 Bed

Bathrooms

1.0

Size

641 sq ft

Exposure

East

Prev: Silk3 / 3
Velvet Floor Plan at The Addison Condos - 641 sq.ft
Click to enlarge

Floor Range: 3-5 | Unit Number: 01

Price History

$974K$1.0M$1.0M$1.1M$1.1MMar 23Feb 24

Launch Price

$1,125,990

$1,757/sq ft

Mar 26, 2023

Current Price

$973,990

$1,519/sq ft

▼$152,000 (-13.5%)
DatePricePrice / Sq Ft
Mar 26, 2023$1,125,990$1,757/sq ft
Feb 28, 2024$973,990
▼ $152,000
$1,519/sq ft
▼ $237/sqft

Comparable Listings Nearby

Beta

Similar 2 Bed condo units nearby

For Sale5 listings
505 Richmond Street W, Unit 903For SaleStrong Match

$1,074,000

505 Richmond Street W, Unit 903

2 Bed1 Bath700-799 sqft
0.1 km·6d on mkt
505 Richmond Street W, Unit 1222For SaleStrong Match

$980,000

505 Richmond Street W, Unit 1222

2 Bed2 Bath700-799 sqft
0.1 km·Built 2023·113d on mkt
505 Richmond Street W, Unit 1027For SaleGood Match

$1,085,000

505 Richmond Street W, Unit 1027

2 Bed2 Bath700-799 sqft
0.1 km·Built 2023·6d on mkt
505 Richmond Street W, Unit 832For SaleGood Match

$1,160,000

505 Richmond Street W, Unit 832

2 Bed2 Bath700-799 sqft
0.1 km·13d on mkt
505 Richmond Street W, Unit 632For SaleGood Match

$988,990

505 Richmond Street W, Unit 632

2 Bed2 Bath700-799 sqft
0.1 km·Built 2023·32d on mkt
For Rent3 listings
111 Bathurst Street, Unit 1505For LeaseGood Match

$3,800/mo

111 Bathurst Street, Unit 1505

2 Bed1 Bath700-799 sqft
0.2 km·12d on mkt
39 Brant Street, Unit 624For LeaseGood Match

$3,966/mo

39 Brant Street, Unit 624

2 Bed1 Bath700-799 sqft
0.2 km·Built 2018·10d on mkt
560 King Street W, Unit 513For LeaseGood Match

$4,000/mo

560 King Street W, Unit 513

2 Bed2 Bath700-799 sqft
0.2 km·66d on mkt

Deposit Structure

Deposit breakdown for this unit priced at $973,990

(15% + 5%) $10,000.00 On Signing Balance to 5% - 30 days 5% - 90 days 2.5% - 360 days 2.5% - 540 days 5% - Occupancy

MilestoneRateAmountCumulativeDue Date
$10,000.00 On Signing$10,000.00$10,000$10,000On Signing
Balance to 5% - 30 daysBalance to 5%$38,700$48,700May 21, 2026
5% - 90 days5%$48,700$97,399Jul 20, 2026
2.5% - 360 days2.5%$24,350$121,749Apr 16, 2027
2.5% - 540 days2.5%$24,350$146,099Oct 13, 2027
5% - Occupancy5%$48,700$194,798At Occupancy
Total Deposit20.0%$194,798

641 sq ft × $0.79/sq ft = $506/mo

Add-ons

Monthly Mortgage (P&I)$4,130
Property Tax (est.)$528
Maintenance Fees$506
Total Monthly Cost$5,164
Est. Rental IncomeBeta−$2,875
Net Monthly Cost−$2,289

Down payment: $194,798 (20%) · Mortgage: $779,192

Estimates only. Property tax rate: 0.65%. Actual rates may vary. Consult a mortgage professional for accurate figures.

Rental estimate based on median of nearby comparable units (beta).

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