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$839,900
505 Richmond Street · Toronto · Ontario M5V 0P4
88 days on market
Rare opportunity to own an exceptional residence in the iconic Waterworks Residences, where timeless heritage architecture meets sophisticated modern luxury. This beautifully appointed two-bedroom suite showcases elegant finishes, soaring 9-foot ceilings, and an abundance of natural light streaming through an impressive wall of floor-to-ceiling windows, creating a bright and inviting atmosphere throughout.Designed with both style and functionality in mind, the thoughtfully crafted open-concept l…
Could save you thousands on this purchase — closing strategy, negotiation & rebate.
Insufficient comparable sales to generate an estimate. Boost accuracy on MyStreetValue →
Seller signals
↓ $135KPrice reduction
MLS shows the seller reduced the asking price by $135,000 (from $974,900 to $839,900).
Labels reflect MLS fields and listing history in our database — not an opinion on fair market value.
Property history
Comparable sales
Brokered by: UNION CAPITAL REALTY
Source: TRREB/PROPTX · MLS® C13609720
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20%+ down — no CMHC premium
≈ $0.07/ft² × ~850 ft² · ON avg ~$75/mo
Typical ON gas-heated home · ~$125/mo
ON municipal avg ~$60/mo
ON internet/TV avg ~$70/mo
1% of value/yr — standard reserve
Landscaping & snow removal · $0 default
$100/mo default · adjust for your home
Optional monitoring · $0 default
From listing or typical fee
Cost composition
Mortgage is 46% of your true cost of ownership. The other 54% surprises most first-time buyers.
Full breakdown
| Mortgage & financing | ||
| Mortgage (P+I) | $38,236 | $3,186/mo |
| Government & taxes | ||
| Property tax | $4,389 | $366/mo |
| Land transfer tax(closing) | $13,273 | $1,106/mo |
| Insurance & protection | ||
| Home insurance | $1,200 | $100/mo |
| Title insurance(closing) | $400 | $33/mo |
| Utilities | ||
| Hydro / electricity | $900 | $75/mo |
| Gas | $1,500 | $125/mo |
| Water & sewer | $720 | $60/mo |
| Internet / TV / phone | $840 | $70/mo |
| Maintenance & upkeep | ||
| Maintenance reserve (1.0%) | $8,399 | $700/mo |
| Condo fees | ||
| Condo / HOA fees | $8,799 | $733/mo |
| Closing costs (one-time) | ||
| Legal / lawyer(closing) | $2,500 | $208/mo |
| Home inspection(closing) | $600 | $50/mo |
| Moving costs(closing) | $2,000 | $167/mo |
| Total | $83,755 | $6,980/mo |
Listing facts below · Ontario averages for utilities — drag sliders to match your home. CMHC added to loan principal only — not double-counted in chart.