502-41 Lake Shore Dr
New Toronto, Toronto, Ontario M8V 1Z3
- Bedrooms
- 2
- Bathrooms
- 1
- Size
- 800–899sq ft
- Per sq ft
- $564at the range’s middle
- Parking
- 11 underground
- Days on market
- Members
The brief
About 502-41 Lake Shore Dr
502-41 Lake Shore Dr is a 2-bedroom, 1-bathroom condo in New Toronto, Toronto, listed for sale at an asking price of $479,000 (MLS® W13805534).
Bright & Spacious Corner Suite. Two Bedroom Apartment In Well Maintained Co-Op Building. Large Living And Dining Room With Hardwood Floors and Walk-Out To Beautiful Long Balcony. Kitchen Has Granite Counters, Stainless Steel Appliances and Ceramic Backsplash. Large Primary Bedroom With Walk In Closet. Lake Views From Bedrooms. Quiet Lakefront Building. Exclusive Use Underground Parking. Exclusive Use Locker. Maintenance Fee Includes Property Taxes, Heat, Hydro, Water and Building Insurance. *Dogs Are Not Permitted. Must Be Owner Occupied Only, No Rentals. Building Has Shared Laundry Room (Coin Operated). Excellent Location - Steps To Transit, Schools, Parks, & Shops.
Insights
Condition Score
Fair66/1004 condition-related facts documented
Source: Listing age, structured features and disclosed update language; not an inspection.
Cashflow Quality
Shortfall36/100−$776/mo against the cost of owning (20% down, 4.8%, 25 yrs)
Source: Median of 18 homes with 2 bedrooms for lease in New Toronto right now. Cost of owning counts the mortgage and the condo fee. This record states no property tax.
Condition uses listing-record signals, not an inspection.
The home
Key facts
- MLS® number
- W13805534
- Board
- TRREB MLS®
- Property Type
- Co-Op Apt
- Days on market
- Size
- 800-899 sqft
- Listed on
- Parking
- 1 Underground, 1 Parking
Property details
Property
- Property Type
- Co-Op Apt
- Style
- Apartment
- Community
- New Toronto
- Municipality
- Toronto
Building
- Size
- 800-899 sqft
- Construction
- Brick
Inside
- Bedrooms
- 2
- Bathrooms
- 1
- Bathroom Details
- 1 × 4pc Flat
- Basement Type
- None
- Kitchens
- 1
Parking
- Garage Type
- Underground
- Garage
- 1
- Additional Parking
- 0
- Total Parking
- 1
Utilities
- Cooling
- None
- Heating Type
- Water
Additional
- Fireplace
- No
- Den
- No
- Family room
- No
- Extras
- New Stainless Steel Built-In Dishwasher, New Stainless Steel Fridge, Stainless Steel Stove, Stainless Steel Built-in Microwave, Electric Light Fixtures.
- Condo maint.
- $1,090
Rooms
| Room | Size | Features | Level |
|---|---|---|---|
| Living | 3.18 × 6.49 m | hardwood floor, W/O To Balcony, O/Looks Dining | Ground |
| Dining | 2.08 × 2.95 m | hardwood floor, O/Looks Living | Ground |
| Kitchen | 2.13 × 2.31 m | Granite Counter, B/I Dishwasher, Ceramic Back Splash | Ground |
| Primary | 3.34 × 3.99 m | hardwood floor, Overlook Water, W/I Closet | Ground |
| 2nd Br | 2.59 × 3.41 m | hardwood floor, Overlook Water, Closet | Ground |
Listing history
Buy/sell history for 502-41 Lake Shore Dr, Toronto, Ontario
Sale history on this site covers the last 2 years, the window permitted under the TRREB MLS® VOW agreement.
| Date Start | Date End | List Price | Price | Event | Listing ID |
|---|---|---|---|---|---|
| Date StartN/A | N/A | $479,000 | N/A | Pc | W13805534 |
Members see the full history. Prices are hidden from signed-out visitors.
The numbers
Mortgage Calculator
Plan with the current asking price
CMHC insurance: not required at 20% down. Payments use Canadian semi-annual compounding.
Mortgage Details
4.8% · 5-year term · 25-year amortization · 20% down
- Total down payment
- $95,800
- Total mortgage amount
- $383,200
- Total interest payment
- $272,600
- Total purchase cost
- $751,600
- Mortgage payment
- $2,186/mo
Cash Flow Analysis
If you rented this home out at 20% down
Break-even down payment
48%Monthly carrying cost
$3,276- Rent $2,500
- Shortfall $776
Rental income opens at $2,500, the median asking rent of 18 comparable homes for lease in New Toronto. Type over it with the rent you expect. This is a planning tool, not advice.
Land transfer tax on this home
- Ontario land transfer tax
- $6,055
- Toronto municipal land transfer tax
- $6,055
- Total land transfer tax
- $12,110
- First-time buyer rebates (Ontario up to $4,000 + Toronto up to $4,475)
- −$8,475
- Total for first-time buyers
- $3,635
See how this is worked out
- 0.5% on the first $55,000
- $275
- 1.0% from $55,000 to $250,000
- $1,950
- 1.5% from $250,000 to $400,000
- $2,250
- 2.0% from $400,000 to $479,000
- $1,580
- Ontario total
- $6,055
Toronto’s municipal tax uses the same brackets at this price, so it adds another $6,055.
An estimate at the asking price, for a home with one or two single-family residences. Your lawyer confirms the exact amount.
Estimate
Estimated value requires sign in
Market estimates use sold comparables and are available after you sign in and accept MLS® VOW terms.
The estimate is an automated value built from public and MLS® data. It is not an appraisal; ask Yossi Kaplan, MBA, Salesperson for a full comparative market analysis.
Comparable sales
Comparable sales require sign in
Closing prices and sold comps are available to registered visitors who accept MLS® VOW terms on this site.
The land
Land and environment
Public records about this location. Not part of the MLS® listing and not provided by the listing brokerage.
Water and conservation3
- Inside Toronto and Region Conservation Authority’s mapped regulated areaHere the area is drawn from shoreline hazard mapping. Work on the property, such as an addition or grading, may need a permit from Toronto and Region Conservation Authority. It does not mean the house floods.At the address
- No mapped wetland within 120 m120 m
- No water-supply well recorded within 250 m2 test or monitoring holes also recorded.250 m
Toronto and Region Conservation Authority · Province of Ontario open data
Planning and building activity4
- Outside the Greenbelt, Oak Ridges Moraine and Niagara Escarpment plan areasAt the address
- 39 building permits issued within 250 m in the last 2 years250 m
- Nearest airport: 8.2 km8.2 km
- Mapped parcel: about 23,140 sq ftMeasured from the municipal parcel map, which can differ from the survey and from the lot size in the listing.At the address
Province of Ontario open data · Municipal building permits · toronto.parcels
Around the home1
- A trail on the Ontario trail network within 1 km1 km
Province of Ontario open data
Environmental records4
- No licensed pit or quarry within 2 km2 km
- No recorded oil, gas or salt well within 250 m250 m
- No facility within 1 km reports pollutant releases to Environment CanadaThe nearest is Pigments Services Canada, Inc. — New Toronto Plant, 1.1 km away. Only facilities above the inventory’s reporting thresholds are listed.1 km
- 1 federal contaminated site within 1 kmAll of them are closed. The federal inventory covers federal land only, not provincial or private sites.1 km
Province of Ontario open data · Government of Canada open data
Power and internet3
- Electricity is distributed here by Toronto Hydro-Electric System LimitedAt the address
- Wired internet 50/10 Mbps or faster is listed at a household 30 m awayFixed wireless up to 25/5 Mbps. LTE mobile coverage listed. ISED’s National Broadband Data at the nearest household point (30 m from the listing); 50/10 Mbps is its top category and includes faster plans. Confirm with a provider for this address.30 m
- Across the surrounding area: fibre to the home, cable, DSL internet listedFibre to the home: Beanfield Metroconnect, Bell, CIK Telecom, FibreStream, Rogers. Cable: Rogers. DSL: Bell. Fixed wireless: Rogers, SkyChoice Communications. Mobile: Bell, Freedom Mobile, Rogers, Telus. Satellite: Xplore. ISED’s list for the surrounding ~25 km² area; check with a provider for this address.Area-wide
Ontario Energy Board · Innovation, Science and Economic Development Canada
Each record is placed at the distance its own line states. None of it is an inspection of the property. Confirm anything that matters to you with the municipality, Toronto and Region Conservation Authorityor the record’s publisher.
Contains information licensed under the Open Government Licence – Canada. Contains information licensed under the Open Government Licence – Ontario. Contains information licensed under the Open Government Licence – Toronto. Contains information made available under the Toronto and Region Conservation Authority Open Data Licence v1.0.
Heritage and ravine protection
- Not found on the Heritage Register
- Not in a mapped Heritage Conservation District
- Not in the mapped ravine protection area
What this means: None of these City records was found at this address. That does not rule out other approvals, such as a conservation authority permit, so check before you plan work.
City of Toronto Heritage Register, Heritage Conservation Districts and the Ravine and Natural Feature Protection by-law, read at this address from the City’s maps. Contains information licensed under the Open Government Licence – Toronto.
Zoning
Zone
RA (f22.5; d1.5)By-law
569-2013Municipality
Toronto1 f22.5
Frontage: at least 22.5 m.
2 d1.5
Density: floor area is capped at 1.5 times the lot area.
3 Where this is written
Chapter 15, section 15.10 of By-law 569-2013
4 What that means in practice
These are the zone’s rules, not permission for this lot. What can be built also depends on the exceptions, overlays and setbacks that apply here. Confirm with the City before you plan.
City of Toronto Zoning By-law 569-2013, read at this address from the City’s zoning map. Open the City’s zoning map. Contains information licensed under the Open Government Licence – Toronto.
Permit history
3 building permits cleared at this address in the City’s file.
Alter: Boiler/Furnace/AC ReplacementPermit Issued
Replace heating equipment with new high-efficiency equipment in an existing apartment building.
Issued July 9, 2025
Garage Repair/ReconstructionClosed
- Removal of overburden (asphalt, landscaped areas)- Localized concrete repairs (top surface, through slab) on asphalt and landscaped areas- Waterproofing repairs on asphalt and landscaped areas
Issued January 16, 2017
Other(PS)Inspection
Replace existing domestic water risers and unit branches (floors 1-8).July 17/06-new drawings submitted as per examiners notice
Issued July 18, 2006
City of Toronto Open Data — cleared building permits, which begin in 2017. Contains information licensed under the Open Government Licence – Toronto.
Signals around this home
Changing nearby. 6 open development applications within 800 m of this home.
66 Y THIRD STSite planUnder Review
Site Plan application for a four-storey municipal shelter containing 51 beds.
390 m away66 Y THIRD STOfficial plan or zoning amendmentOMB Appeal
Proposal to amend the Zoning By-law to allow for a new 4-storey municipal shelter with approximately 50 beds.
390 m away66 X THIRD STOfficial plan or zoning amendmentOMB Appeal
Proposal to amend the Zoning By-law to allow for a new 4-storey municipal shelter with approximately 50 beds.
390 m away66 X THIRD STSite planUnder Review
Site Plan application for a four-storey municipal shelter containing 51 beds.
390 m away2950 LAKE SHORE BLVD WOfficial plan or zoning amendmentOMB Appeal
Proposal for a 9-storey (28.7 m in height including mechanical penthouse) mixed use building containing 95 residential units and 485 sq. m of commercial gross floor area at grade. A total GFA of 8,683 sq. m is proposed, resulting in an FSI of 5.71. A total of 32 parking spaces are proposed within 1-level of underground parking. Vehicular access to the site would be provided from Eighth Street via an existing driveway on the adjacent property to the north.
600 m away2970 LAKE SHORE BLVD WOfficial plan or zoning amendmentOMB Appeal
Proposal for a 9-storey (28.7 m in height including mechanical penthouse) mixed use building containing 95 residential units and 485 sq. m of commercial gross floor area at grade. A total GFA of 8,683 sq. m is proposed, resulting in an FSI of 5.71. A total of 32 parking spaces are proposed within 1-level of underground parking. Vehicular access to the site would be provided from Eighth Street via an existing driveway on the adjacent property to the north.
600 m away
City of Toronto Open Data — Development Applications and Building Permits (cleared permits since 2017). An application is a proposal: it may change, be refused or never be built. Contains information licensed under the Open Government Licence – Toronto.
The market
Market area · filters apply to the charts below
The street
Map and tour
Transit nearby
| Station | Lines | Distance |
|---|---|---|
| Mimico GO | GO Transit train: Lakeshore West | 2 km |
| Long Branch GO | GO Transit train: Lakeshore West | 3.8 km |
The nearest subway, light rail, train, bus rapid transit stations 5 km, as the crow flies. Source: GO Transit schedule data (GTFS) from Metrolinx under the Open Government Licence – Ontario – Metrolinx, downloaded October 18, 2026. Data used in this product or service is provided with the permission of Metrolinx. Metrolinx makes no representations or warranties of any kind, express or implied, with respect to the Data and assumes no responsibility for the accuracy or currency of the data used in this product or service. Contains information licensed under the Open Government Licence – Ontario – Metrolinx.
Schools nearby
| Elementary | Type | Distance | EQAO average 2024–25 |
|---|---|---|---|
| Seventh Street Junior SchoolToronto DSB | Public · grades JK–5 | 400 m | 73%Grade 3 average |
| Second Street Junior Middle SchoolToronto DSB | Public · grades JK–8 · French Immersion | 700 m | 71%Grade 6 average |
| The Holy Trinity Catholic SchoolToronto CDSB | Catholic · grades JK–8 | 1.4 km | 80%Grade 6 average |
| École élémentaire Micheline-Saint-CyrConseil scolaire Viamonde | French-language public · grades JK–6 | 3.7 km | 76%Grade 6 average |
| Secondary | Type | Distance | Grade 9 math 2024–25 |
|---|---|---|---|
| Father John Redmond Catholic Secondary SchoolToronto CDSB | Catholic · grades 9–12 | 1.4 km | 75%Grade 9 math |
| Lakeshore Collegiate InstituteToronto DSB | Public · grades 9–12 · French Immersion | 1.6 km | 42%Grade 9 math |
| Etobicoke School of the ArtsToronto DSB | Public · grades 9–12 | 3.7 km | 68%Grade 9 math |
| ÉSC Saint-Frère-AndréConseil scolaire catholique MonAvenir | French-language Catholic · grades 9–12 | 7.7 km | 69%Grade 9 math |
EQAO: share of students at or above the provincial standard, 2024–25 (Ontario open data). These are the schools nearest this home, not the schools it is assigned to: boundaries change, and some schools take students by application. Confirm with the board before you buy. Contains information licensed under the Open Government Licence – Ontario.
The verdict
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