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Cabbagetown-South St. James Town, Toronto
$1,749,900
Rare opportunity to own a truly unique mixed-use corner property in the heart of Cabbagetown, directly across from Riverdale Park and Riverdale Farm. This character-filled property features a functioning main floor corner commercial space currently operating as a well-established ice cream/snack bar, along with two separate and self-contained one-bedroom residential units known as the Loft and the Cottage. The property also offers two private decks and a large backyard, creating exceptional outdoor space rarely found in the city. A landmark location with incredible charm, strong visibility, and income in one of Toronto's most sought-after neighbourhoods. Steps to parks, transit, local shops, and downtown amenities. An exceptional opportunity for investors, end users, or those seeking a unique live/work property. Parking Currently Not In Use.
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What the bank counts
This home's actual carrying costs, payment stress-tested at 6%
- Mortgage, tested at 6%
- $8,957
- Property tax
- $1,232
- Heat allowance
- $150
- Housing costs
- $10,338 / mo
Lenders cap these at 39% of gross income โ that sets the number.
Income needed
$318,000
gross annual household income
- Payment at 4%
- $7,364 / mo
- Cash down
- $349,980
Assumes no other monthly debts ยท 25-yr amortization
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