$1,589,000 - 40 River Street, Cabbagetown
Semi-Detached for Sale in Cabbagetown
98 days on market- MLS Number
- C12865050
- Property Type
- Semi-Detached
- Status
- active
- Days on Site
- 98
- Bedrooms
- 4
- Bathrooms
- 2
- Square Feet
- 2,500 - 2,999 sqft
- Neighbourhood
- Regent Park / Cabbagetown / St. James Town
- Listing Brokerage
- RE/MAX WEST REALTY INC.
Welcome to this sun filled, brick and stone home built in 1890, offering generous living space throughout. The home has been freshly painted, and some original features are still intact. It is being offered for sale for the first time since 1983. The main floor features 9 feet 10 inch high ceilings. The principal rooms are very spacious and feature crown moulding in the living and dining rooms, a fireplace in the living room, and hardwood flooring throughout most of the home. The second floor features 8 feet 10 inch high ceilings, and the third floor features 8 foot high ceilings. A service staircase provides additional access from the main floor kitchen to the second floor. The home is currently set up as two self contained apartments, but it can easily be converted into a single family dwelling with relatively minor changes. It can also be used as is, with a new owner occupying the spacious second and third floor apartment and renting out the main and basement apartment to assist with carrying costs, subject to any required municipal approvals. Parking for two cars is located at the rear of the property, and the home is conveniently located steps to public transportation and close to the Don Valley Parkway and the Gardiner Expressway. It is also near Riverdale Park, the Don Valley trails, the Distillery District, schools, shops, and everyday amenities. This is a well built home with long term potential. It is a property any new owner would be proud to call their own for years to come.
Estimate your monthly payments for this property
Estimated Payment
$7,028.68/mo
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 Regent Park / Cabbagetown / St. James Town
Regent Park / Cabbagetown / St. James Town 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 Regent Park / Cabbagetown / St. James Town
- •Convenient location in Regent Park / Cabbagetown / St. James Town
- •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
Regent Park / Cabbagetown / St. James Town 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.
40 River Street, Regent Park / Cabbagetown / St. James Town
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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 $636/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 98 days on site, this property has exceeded the typical selling timeline for Cabbagetown. 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 Cabbagetown 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 Cabbagetown. Good resale value as demand remains consistent.
Investment Perspective
Looking at this as an investment: Cabbagetown properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $6,621 (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.