$6,495/mo - 5 Wascana Avenue, Cabbagetown
Townhouse for Rent in Cabbagetown
83 days on market- MLS Number
- C12920814
- Property Type
- Townhouse
- Status
- active
- Days on Site
- 83
- Bedrooms
- 5
- Bathrooms
- 3
- Square Feet
- 1,500 - 1,999 sqft
- Neighbourhood
- Regent Park / Cabbagetown / St. James Town
- Listing Brokerage
- RE/MAX URBAN TORONTO TEAM REALTY INC.
Rarely Offered Executive Townhouse In The Regent Park District! Discover An Exceptional Living Experience In This Executive Townhouse Located In The Vibrant Regent Park Community. This Beautifully Updated Home Offers Over 1,500 Sq. Ft. Of Living Space Plus A Fully Finished Basement With Approximately 560 Sq. Ft., Providing Generous Room To Live, Work, And Entertain. Fully Custom Renovated From Top To Bottom Within The Last Year, The Home Showcases Modern Finishes, Thoughtful Design, And A Turn-Key Living Experience. The Open-Concept Main Floor Offers Seamless Flow And Walks Out From The Living Room To A Private Wood-Fenced Yard Featuring An Interlock Patio, Perfect For Relaxing Or Entertaining.The Finished Basement Adds Incredible Versatility With A Cozy Recreation Room Featuring A Fireplace, Bathroom, Laundry Room, And Ample Storage Space. Additional Highlights Include One Car Parking Accessible Via Laneway And The Option To Lease The Unit Furnished Upon Request, Offering Flexibility For Professionals Or Relocating Tenants. Situated In A Residential Pocket Near Queen Street East And Sumach Street, This Home Is Steps To Parks, Schools, Transit, Local Shops, And Everything The Revitalized Regent Park Community Has To Offer.
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.
5 Wascana Avenue, Regent Park / Cabbagetown / St. James Town
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How this lease stacks up against the local rental market
Estimated Monthly Budget
Things to Confirm Before Signing
· Are utilities included, or separate?
· How many parking spots are included?
· Is the landlord open to a 1-year or 2-year lease?
· Are pets and small renovations (paint, hooks) allowed?
· When was the last rent increase, if there is a prior tenant?
Utility estimates are approximate and vary by season, habits, and what the landlord includes. Always confirm inclusions with the listing agent.
Joe's Thoughts
Honest perspective from 30+ years of GTA real estate experience
Above Market Rent
At $6,495/mo, this is asking above the typical 4-bedroom rent of ~$4,200/mo in Cabbagetown. That premium needs to be justified — newer finishes, included parking, a premium location, or utilities included. I'll help you assess whether it's worth it or whether there's room to negotiate.
Negotiation Opportunity
At 83 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.
Townhouse Benefits
Townhouses offer an excellent balance of space and maintenance. You get more room than a condo with lower upkeep than a detached home. Key things to verify: whether it's freehold or condo-titled (affects fees and rules), and the condition of shared walls for noise considerations. Townhouses in Cabbagetown have shown strong appreciation as families seek more space.
Excellent Flexibility
With 5 bedrooms, you have genuine flexibility. Beyond the master and kids' rooms, you can have a dedicated home office, guest room, hobby space, or even rental income potential. In today's work-from-home era, extra bedrooms add significant value. Properties with 5+ bedrooms are relatively rare in Cabbagetown.
Bathroom Count Matters
With 3 bathrooms, morning routines are much smoother. Multiple bathrooms significantly improve daily livability and are a major selling point for resale. Buyers consistently pay more for adequate bathroom counts - this is a strong feature.
Lease Terms to Negotiate
Don't just focus on the monthly rent — the lease terms matter just as much. I always advise my rental clients to clarify: what's included (parking, storage, utilities), the lease length options, the landlord's policy on renewals, and whether small personalizations like painting are permitted. These details can make or break your experience over 12–24 months.