$789,000 - 553 King Street, Cabbagetown
Townhouse for Sale in Cabbagetown
43 days on market- MLS Number
- C13084302
- Property Type
- Townhouse
- Status
- active
- Days on Site
- 43
- Bedrooms
- 2
- Bathrooms
- 2
- Square Feet
- 700 - 1,099 sqft
- Neighbourhood
- Regent Park / Cabbagetown / St. James Town
- Listing Brokerage
- REMAX CONNECT REALTY
Your dream of owning a classic freehold Toronto redbrick Victorian rowhome is about to come true! Welcome to 553 King Street East, your ticket out of condo living & to a gorgeously updated freehold home in one of Toronto's best east-end neighbourhoods, Corktown! Step off King Street East & notice right away the brick & window details you can only find in a home of this vintage & charm. Inside you'll be wowed by the openness, high ceilings & natural light. The living room has plenty of room to set up the cozy vignette of your dreams, & the dining room is perfect for hosting dinner parties or date nights in. The modern kitchen features a walk out to the backyard, ample counter space, & stacked laundry. A classy, updated main level powder room - rare in Toronto - means you'll never need to send guests running upstairs. On your way upstairs notice the beautiful pine treads, a nod to the home's storied past. On the second level there's a den perfect for working from home, crafting, reading, or whatever your heart desires. The bedroom has a large closet & a coveted updated ensuite bathroom. The backyard is your own little slice of the city - just imagine your summers spent with family & friends BBQing back here! Located in one of Toronto's most vibrant neighbourhoods, Corktown, 553 King Street E. is the perfect blend of urban living & historic charm. You'll be just minutes from the Financial District, making your work commute a breeze for those days you need to head to the office. For date nights & errands, all the best restaurants, shops, & amenities along King Street E. & in Leslieville, Riverside, & the Distillery District are just right around the corner. In fact, Spaccio & Gusto 501 are just a short jaunt away. One of the city's best gyms is right across the street, & the famous Impact Kitchen is steps away for when you want to treat yourself to coffee & a healthy snack or lunch. It's time to seize this opportunity & own a part of Toronto history. Welcome home!
Estimate your monthly payments for this property
Estimated Payment
$4,047.98/mo
Includes CMHC insurance ($22,013)
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.
553 King 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
Fair Market Value
At $1127/sqft, this property is priced in line with current Cabbagetown 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.
Market Position
At 43 days on site, this property has had reasonable exposure. It hasn't sold immediately (which often indicates overpricing), but isn't languishing either. There's likely room for a 3-5% negotiation from asking price.
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.
Efficient Living
At 700 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: Cabbagetown properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $3,288 (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.