$979,000 - 188 Fifth Street, Liberty Village
Detached for Sale in Liberty Village
141 days on market- MLS Number
- W12720200
- Property Type
- Detached
- Status
- active
- Days on Site
- 141
- Bedrooms
- 4
- Bathrooms
- 2
- Square Feet
- 1,100 - 1,499 sqft
- Neighbourhood
- Liberty Village / Parkdale / South Parkdale
- Listing Brokerage
- RE/MAX WEST REALTY INC.
Welcome to 188 Fifth Street, a thoughtfully updated, detached, two-storey family home offering three bedrooms and two bathrooms in the heart of South Etobicoke. This delightful property combines comfort, style, and convenience in one of the area's most desirable neighbourhoods. Enjoy being just a short walk from Lakeshore Village's vibrant shops and restaurants, the Lake Shore streetcar, and beautiful lakeside parks with scenic walking and biking trails. Commuters will appreciate the easy access to both Long Branch and Mimico GO stations, making travel around the city effortless. Step in from the home's welcoming covered front porch to a space that has been freshly painted throughout. The main floor features a renovated kitchen with granite countertops, stainless steel appliances, a heated floor, a pantry, and a breakfast bar-perfect for everyday living and entertaining. The kitchen connects to a separate back entry/mudroom with a large closet and a walk-out to the backyard. The main floor also includes hardwood flooring, a spacious dining room, and a separate living room with a charming pocket door. Upstairs, you'll find three bright bedrooms, each with generous closet space, as well as a renovated three-piece bathroom with a glass shower stall. The lower level offers even more living space, including a recreation room, a four-piece bathroom, and a laundry area, plus a walk-up to the backyard. The property also features a wide mutual drive and a garage, providing easy parking for two cars. The property qualifies for a laneway house build in the rear portion of the lot. The maximum size of a permitted as-of-right build appears to be approximately 1,459 square feet (over two floors-main and upper), with the option to include a car garage on the main floor, accessible via the laneway. With its thoughtful updates, inviting atmosphere, and great location near the lake, 188 Fifth Street is the perfect place to call home in South Etobicoke.
Estimate your monthly payments for this property
Estimated Payment
$5,022.78/mo
Includes CMHC insurance ($27,314)
5-yr fixed avg.
Rates shown are estimates based on typical Ontario 5-year fixed rates. Canadian mortgages use semi-annual compounding as required by law. CMHC insurance applies to purchases under $1.5M with less than 20% down. Estimated property tax uses an approximate 0.85% rate. Contact us for current rate options and pre-approval.
Discover Liberty Village / Parkdale / South Parkdale
Liberty Village / Parkdale / South Parkdale is a vibrant community in the Greater Toronto Area, offering excellent amenities, schools, and transportation options. This area is popular with families and professionals seeking a balanced lifestyle with access to urban conveniences and natural spaces.
Why Live in Liberty Village / Parkdale / South Parkdale
- •Convenient location in Liberty Village / Parkdale / South Parkdale
- •Access to local shops and dining
- •Good public transit connections
- •Community parks and green spaces
- •Well-maintained neighbourhoods
Nearby Schools
Transit & Commuting
- •MiWay bus routes throughout the area
- •GO Transit stations within driving distance
- •Easy highway access to 401/403/QEW
- •Walking distance to local amenities
Parks & Amenities
- •Local parks and recreational facilities
- •Community centres
- •Shopping plazas nearby
- •Restaurants and cafes
Lifestyle & Community
Liberty Village / Parkdale / South Parkdale offers a wonderful quality of life with a mix of residential charm and urban convenience. Residents enjoy easy access to schools, parks, and shopping, making it an ideal location for families and professionals alike.
188 Fifth Street, Liberty Village / Parkdale / South Parkdale
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Monthly Cash Flow Breakdown
Note: These are estimates only. Actual figures may vary based on market conditions, property condition, and other factors. Consult with a financial advisor for personalized advice.
Joe's Thoughts
Honest perspective from 30+ years of GTA real estate experience
Fair Market Value
At $890/sqft, this property is priced in line with current Liberty Village market conditions. The pricing suggests the seller has done their homework. We may have modest room for negotiation, typically 2-4% in today's market.
Negotiation Opportunity
At 141 days on site, this property has exceeded the typical selling timeline for Liberty Village. This creates leverage for buyers. The seller may be motivated by carrying costs, life circumstances, or previous deals falling through. I'd recommend a strategic offer below asking with terms that favour you.
Detached Home Advantages
Detached homes in Liberty Village are increasingly scarce and valuable. You'll have no shared walls, full control over renovations, and typically stronger appreciation. Consider the lot size and potential for future additions or basement apartment income. Detached homes also offer the most flexibility for growing families.
Family-Friendly Layout
4 bedrooms hits the sweet spot for most families. You'll have room for 2-3 children plus a home office or guest room. This is the most sought-after configuration for families relocating to Liberty Village. Good resale value as demand remains consistent.
Investment Perspective
Looking at this as an investment: Liberty Village properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $4,079 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.
Let's See It Together
Photos only tell part of the story. During our showing, I'll point out things the camera doesn't capture: neighbourhood feel, natural light quality, traffic noise, and overall condition. I'll also share what comparable homes have sold for and help you craft a winning strategy if you decide to move forward.