$399,000 - 5580 Sheppard Avenue Unit 1001, Morningside
Condo for Sale in Morningside
33 days on market- MLS Number
- E13112094
- Property Type
- Condo
- Status
- active
- Days on Site
- 33
- Bedrooms
- 3
- Bathrooms
- 1
- Square Feet
- 800 sqft
- Neighbourhood
- Scarborough (Morningside / West Hill)
- Locker
- None
- Exposure
- South East
- Balcony
- Enclosed
- Listing Brokerage
- RE/MAX REALTRON REALTY INC.
Welcome to an exceptional opportunity to own instead of rent-at a comparable monthly cost! This spacious 2+1 bedroom unit is located in a highly desirable area with 24-hour TTC access. ***Gorgeous, bright, and sun-filled, this unit offers breathtaking views for miles. Featuring a functional split-bedroom layout, a walk-in closet, and large windows that flood the space with natural light. Enjoy laminate flooring throughout and a modern kitchen complete with quartz countertops and brand-new appliances.***This well-maintained, move-in-ready unit also an exceptionally large private balcony-one of the best in the building***Close to Grocery, Shopping, Centennial College, Scarborough Town Centre And Hyw401, Everything you need is at your doorsteps.***Perfect for first-time buyers or investors looking for a turnkey property in a high-demand location. Must See.. Don't miss out..!!
Estimate your monthly payments for this property
Estimated Payment
$2,047.08/mo
Includes CMHC insurance ($11,132)
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 Scarborough (Morningside / West Hill)
Scarborough (Morningside / West Hill) 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 Scarborough (Morningside / West Hill)
- •Convenient location in Scarborough (Morningside / West Hill)
- •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
Scarborough (Morningside / West Hill) 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.
5580 Sheppard Avenue Unit 1001, Scarborough (Morningside / West Hill)
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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 $499/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.
Market Position
At 33 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.
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 800 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.
Starter Home Potential
3 bedrooms works well for couples planning families or small families with one child. Consider whether you might outgrow the space in 5-7 years. If so, factor in potential moving costs when making your decision. Alternatively, some buyers convert a bedroom to an office and make it work long-term.
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.