$679,000 - 511 Queen Street, Cabbagetown
Townhouse for Sale in Cabbagetown
48 days on market- MLS Number
- C13057370
- Property Type
- Townhouse
- Status
- active
- Days on Site
- 48
- Bedrooms
- 2
- Bathrooms
- 2
- Square Feet
- 1,100 - 1,499 sqft
- Neighbourhood
- Regent Park / Cabbagetown / St. James Town
- Listing Brokerage
- RE/MAX HALLMARK REALTY LTD.
Exceptional Duplex freehold Townhouse & commercial investment opportunity in the heart of Toronto's vibrant and highly sought-after Corktown community. This rare offering features approximately 1,500 sq. ft. of prime downtown real estate in one of the city's most rapidly evolving neighbourhoods. Currently configured as two self-contained 1-bedroom, 1-bathroom units, the property offers strong income potential with the opportunity to renovate, reposition, or completely transform to maximize value. This property presents an outstanding canvas for investors, end-users, or developers looking to unlock its full potential. Unbeatable location with direct access to Queen St E and TTC at your doorstep, seamless connectivity to the DVP and Gardiner Expressway, and just a short walk to the upcoming Ontario Line subway. Previously commercial and now residentially zoned, the property offers flexibility with potential to convert back to commercial use (buyer to verify). A rare opportunity to secure a value-add property in one of Toronto's most dynamic and established neighbourhoods. Rent one unit and live in the other one! Previously rented as a duplex.
Estimate your monthly payments for this property
Estimated Payment
$3,483.62/mo
Includes CMHC insurance ($18,944)
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.
511 Queen Street, Regent Park / Cabbagetown / St. James Town
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Rental income estimator & ROI calculator
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 $617/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 48 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.
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 $2,829 (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.