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$495K · 2+1 bed Condo Apartment · Unit 511, 55 Elm Drive, Mississauga, Ontario L5B 3Z3 | HomeSearchCanada

$495,000

Unit 511

39 DOM

2+1239d

Map

DOM 39

$495,000

DOM39days

Unit 511

55 Elm Drive · Mississauga · Ontario L5B 3Z3

MLS® W13423914 · City Centre · L5B 3Z3

2+12TenantOccupied1200-1399 ft²Condo Apartment2-car UndergroundNo basement39d$381/ft²$3,039 tax/yrNo basement

39 days on market

About this home

**BUYER TO ASSUME EXISTING TENANT!! Photos shown are of a similar unit with an identical floor plan and are provided for illustrative purposes only. They do not accurately represent the current condition or finishes of this unit. Excellent opportunity for investors. The property is currently tenanted, and the buyer will assume the existing tenant and lease upon closing, making this an ideal turnkey investment with immediate rental income. This spacious condo offers more living space than many ne…

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Property details

MLS#: W13423914
Status: Buy Now
Property class: Residential Condo & Other
Beds: 2+1
Baths: 2 full, 0 half
Rooms: 6
Kitchens: 1
Size: 1200-1399Exact finished sqft not on MLS feed (often MPAC-only on broker systems)
Basement: None
Style: Apartment
Type: Condo Apartment
Year built: —Year built not on MLS feed (often MPAC-only on broker systems)

Occupancy: Tenant Occupied
Washrooms: 3 pc · Main; 4 pc · Main
Family room: No
Central vacuum: No
Ensuite laundry: No

Property features: Public Transit, Park, School, Rec./Commun.Centre

Condo corp #: 386
Balcony: None
Locker: Owned
Association amenities: Party Room/Meeting Room, Tennis Court, Indoor Pool, Gym, Squash/Racquet Court, Visitor Parking
Fees include: Heat Included, Hydro Included, Water Included, Cable TV Included, CAC Included, Common Elements Included, Building Insurance Included, Parking Included
Pets: Yes-with Restrictions

Garage: 2-car Underground
Garage spaces: 2
Parking: 2 total
Heating: Forced Air
Heating fuel: Gas
Cooling: Central Air
Fireplaces: —
Waterfront: No
Exterior: Concrete
Fronting on: —
Cross street: Hurontario St & Burnhamthorpe Rd W
Stories: 5
Utilities: —
Laundry: Ensuite
Laundry level: Main Level
Interior: Carpet Free
Parking features: None

Additional listing data

ListAOR: Toronto Regional Real Estate Board

Rooms

Room details

Seller signals

Price movement & seller pressure

No price-drop or motivated-seller signals detected from MLS data we track on this listing.

Property history

Sales History

NEW

Location details

Comparable sales

Neighbourhood SOLDs

Neighbourhood stats

Brokered by: Royal LePage Real Estate Associates

Source: TRREB/PROPTX · MLS® W13423914

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$495K

Unit 511 · Bryon Bertrim

Coach Home Wizard

Annual costs

Monthly carrying costs, utilities, and closing cost estimates.

Pre-filled from listing✓ $495,000✓ $3,039 tax✓ Gas✓ 1200-1399 ft²✓ Ontario· Listing facts below · Ontario averages for utilities — drag sliders to match your home

Monthly all-in

$4,981/mo

incl. closing costs (yr 1)

Annual total

$59,772

year 1

Mortgage only

$1,878/mo

principal + interest

Beyond mortgage

$2,113/mo

taxes, utilities, upkeep

Financing

Purchase price

Down payment20%$99,000

20%+ down — no CMHC premium

Mortgage rate3.00%

Amortization

Province

Government

Property tax (annual)from listing$253/mo

Utilities

Hydro / electricity$75/mo

≈ $0.07/ft² × ~1,300 ft² · ON avg ~$75/mo

Gas$125/mo

Typical ON gas-heated home · ~$125/mo

Water / sewer$60/mo

ON municipal avg ~$60/mo

Internet / TV / phone$70/mo

ON internet/TV avg ~$70/mo

Maintenance & upkeep

Maintenance reserve1.0%$4,950/yr

1% of value/yr — standard reserve

Landscaping & snow$0/mo

Landscaping & snow removal · $0 default

Home insurance$100/mo

$100/mo default · adjust for your home

Security system$0/mo

Optional monitoring · $0 default

Condo / HOA fees (mo)$85/mo

From listing or typical fee

Closing costs (one-time, year 1)

Land transfer tax (ON)computed$6,375

Legal / lawyer fees

Home inspection

Title insurance

Moving costs

CMHC premiumNone (20%+ down)

Cost composition

Mortgage (P+I)38% $22,535/yr

Property taxes16% $9,414/yr

Utilities7% $3,960/yr

Insurance & security3% $1,600/yr

Maintenance8% $4,950/yr

Condo fees20% $12,213/yr

Closing costs9% $5,100/yr

Mortgage is 38% of your true cost of ownership. The other 62% surprises most first-time buyers.

Full breakdown

Mortgage & financing
Mortgage (P+I)	$22,535	$1,878/mo
Government & taxes
Property tax	$3,039	$253/mo
Land transfer tax(closing)	$6,375	$531/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%)	$4,950	$413/mo
Condo fees
Condo / HOA fees	$12,213	$1,018/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	$59,772	$4,981/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.

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Unit 511

About this home

MyStreetValue™ Analysis

Property details

Additional listing data

Rooms

Price movement & seller pressure

Sales History

Neighbourhood SOLDs

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Annual costs