$520,000 - 20 Palace Street Unit E1, Kitchener
Condo for Sale in Kitchener
109 days on market- MLS Number
- X12777434
- Property Type
- Condo
- Status
- active
- Days on Site
- 109
- Bedrooms
- 2
- Bathrooms
- 2
- Square Feet
- 900 sqft
- Neighbourhood
- Kitchener
- Locker
- None
- Exposure
- North
- Balcony
- Open
- Listing Brokerage
- EXP REALTY
Welcome to this gorgeous 2-bedroom, 2-bathroom condo at 20 Palace Street, Unit E1, located in a highly sought-after Kitchener neighbourhood, close to Highway 8 to get on to Highway 401. The area has beautiful parks with everything in close distance for all your needs. With only two years since its construction, this home feels and looks immaculately fresh, featuring a contemporary layout and fresh paint throughout. The spacious living and dining areas are perfect for entertaining and relaxing, with a private balcony offering a peaceful outdoor retreat. The open-concept kitchen is both functional and stylish, complete with a breakfast bar, ideal for casual meals and meal prep. Both bedrooms are spacious with a true sanctuary ambiance, offering good natural light. Everything is conveniently located on one floor, including laundry, making laundry day easy and efficient. Thoughtfully designed with modern finishes and a bright, inviting atmosphere, this condo is truly move-in ready. Whether you're a first-time buyer, looking to downsize for easy living, or looking for an updated space to call home, this well-kept unit is a must-see! Big Patio area for BBQ. Close to all amenities, Transit, shopping, etc. ** EXTRAS** ALL LIGHT FIXTURES, CURTAINS, FRIDGE, STOVE, WASHER DRYER, FURNACE, CAC. IN-BUILT MICROWAVE.
Estimate your monthly payments for this property
Estimated Payment
$2,667.87/mo
Includes CMHC insurance ($14,508)
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 Kitchener
Kitchener 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 Kitchener
- •Convenient location in Kitchener
- •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
Kitchener 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.
20 Palace Street Unit E1, Kitchener
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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
Competitive Pricing
At $578/sqft, this is priced below the area average. This could represent genuine value, but let's investigate why. In my experience, underpriced homes often have deferred maintenance, unfavourable layouts, or motivated sellers. I'll help you determine which it is.
Negotiation Opportunity
At 109 days on site, this property has exceeded the typical selling timeline for Kitchener. 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.
Condo Considerations
For condos, I always review the status certificate thoroughly. Key things I look for: reserve fund health (should be well-funded), any upcoming special assessments, rules that might affect your lifestyle (pets, rentals, renovations), and the corporation's financial statements. We'll want to verify the monthly fees and what they include.
Efficient Living
At 900 sqft, this is a more compact space. The upside: lower utility bills, less maintenance, and easier cleaning. Consider how you'll use the space - built-in storage, multi-functional furniture, and good organization become important. Great for singles, couples, or those who prefer a low-maintenance lifestyle.
Investment Perspective
Looking at this as an investment: Kitchener properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $2,167 (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.