385 Prince of Wales Dr 701
City Centre, Mississauga, L5B 0C6
FOR SALE
$529,900
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Property Description
**Investment Property with existing income, offering a 3.78% Cap Rate** AAA Tenant with rental income of $2,400/month & an assumable lease expiring August 14th, 2025! High demand building for rentals! Amazing opportunity for buyers requiring additional income to qualify for a mortgage! Spacious unit with a functional layout! Open Concept Kitchen With Stainless Steel Appliances, Granite Counter Tops & A Large Breakfast Bar! The Primary Bedroom offers His and Her closets, a large window and updated laminate floors. Tall 9' Ceilings & Modern Baseboards throughout. North facing balcony that offers a tranquil setting & a sunny northern exposure! Quiet unit, yet located right in the heart of Mississauga's City Centre, Close Proximity To Public Transit such as the Go and Soon to be LRT! Easy access to Hwy 403 & Square One Shopping Centre! Indulge in the Many Restaurants, Cafes, Cinema, YMCA, Living Arts Centre, Public Library and the Performing Arts Venue!
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Listing History
| List Date | End Date | Days Listed | List Price | Sold Price | Status |
|---|---|---|---|---|---|
| 2024-07-08 | 2024-09-25 | 79 | $529,900 | - | Terminated |
| 2024-08-06 | 2024-08-08 | 2 | $2,400 | $2,400 | Leased |
| 2024-06-20 | 2024-07-09 | 19 | $529,900 | - | Terminated |
| 2024-05-27 | 2024-06-20 | 24 | $539,000 | - | Terminated |
| 2023-06-19 | 2023-07-16 | 27 | $2,400 | $2,400 | Leased |
| 2022-07-25 | 2022-07-28 | 3 | $2,300 | $2,300 | Leased |
| 2022-06-23 | 2022-07-27 | 34 | $600,000 | - | Terminated |
| 2022-05-25 | 2022-06-23 | 29 | $615,000 | - | Terminated |
| 2022-04-21 | 2022-05-25 | 34 | $630,000 | - | Terminated |
| 2022-04-20 | 2022-04-21 | 1 | $645,000 | - | Terminated |
| 2020-05-04 | 2020-05-22 | 18 | $508,888 | - | Suspended |
Extras
Amenities Incl: An Indoor Pool, Saunas, Whirlpool, Gym, 24hr Concierge, Outdoor Deck, Party Rm, Billiards Rm, Theatre, Virtual Golf, Foosball Table and a Rock-Climbing Wall!
Nearby Intersections
Rathburn & Confederation (190)
Property Features
Arts Centre, Library, Public Transit
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Property Details
Street
Community
City
Property Type
Condo Apt, Apartment
Approximate Sq.Ft.
600-699
Taxes
$2,371 (2024)
Basement
None
Exterior
Brick
Heat Included
Yes
Heat Type
Forced Air
Heat Source
Gas
Air Conditioning
Central Air
Parking Spaces
1
Parking 1
Owned (Level C)
Garage Type
Underground
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Room Summary
| Room | Level | Size | Features |
|---|---|---|---|
| Foyer | Flat | 3.48' x 9.45' | Hardwood Floor, Closet |
| Kitchen | Flat | 7.97' x 8.50' | Ceramic Floor, Stainless Steel Appl, Granite Counter |
| Living | Flat | 11.29' x 17.78' | Hardwood Floor, W/O To Balcony, North View |
| Dining | Flat | 11.29' x 17.78' | Hardwood Floor, Combined W/Living, Breakfast Bar |
| Prim Bdrm | Flat | 9.97' x 11.58' | Laminate, Large Closet, Large Window |
| Other | Flat | 5.38' x 10.27' | Balcony, North View |
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Mississauga Market Statistics
Mississauga Price Trend
385 Prince of Wales Dr 701 is a 1-bedroom 1-bathroom condo listed for sale at $529,900, which is $15,640 (3.0%) higher than the average sold price of $514,260 in the last 30 days (September 17 - October 16). During the last 30 days the average sold price for a 1 bedroom condo in Mississauga declined by $264 (0.1%) compared to the previous 30 day period (August 18 - September 16) and down $54,017 (9.5%) from the same time one year ago.Inventory Change
There were 143 1-bedroom condos listed in Mississauga over the last 30 days (September 17 - October 16), which is up 12.6% compared with the previous 30 day period (August 18 - September 16) and down 11.7% compared with the same period last year.Sold Price Above/Below Asking ($)
1-bedroom condos in Mississauga typically sold ($10,357) (2.0%) below asking price over the last 30 days (September 17 - October 16), which represents a $1,250 increase compared to the previous 30 day period (August 18 - September 16) and ($12,202) more than the same period last year.Sales to New Listings Ratio
Sold-to-New-Listings ration (SNLR) is a metric that represents the percentage of sold listings to new listings over a given period. The value below 40% is considered Buyer's market whereas above 60% is viewed as Seller's market. SNLR for 1-bedroom condos in Mississauga over the last 30 days (September 17 - October 16) stood at 35.0%, down from 48.0% over the previous 30 days (August 18 - September 16) and up from 27.8% one year ago.Average Days on Market when Sold vs Delisted
An average time on the market for a 1-bedroom 1-bathroom condo in Mississauga stood at 27 days when successfully sold over the last 30 days (September 17 - October 16), compared to 46 days before being removed from the market upon being suspended or terminated.Listing contracted with Forest Hill Real Estate Inc.
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