CondoListed today

242 Rideau St #501, Lower Town - Sandy Hill

Name: 242 Rideau Street, Unit 501
SKU: X14177012
Price: 549900 CAD
Availability: InStock

Lower Town - Sandy Hill, ON · · MLS® X14177012Updated November 13, 2026

$549,900Est. $2,701/mo mortgage

Bedrooms: 2
Bathrooms: 2
Living space: 1200–1399sq ft
Parking spaces: 1

Type Condo
Garage Yes
Basement None

What you should know

242 Rideau St #501 is a 2-bedroom, 2-bathroom condo in Lower Town - Sandy Hill, listed for $549,900. It has 1200-1399 sq ft of living space.

Enjoy an unbeatable downtown location with stunning views of Parliament Hill!
A spacious and well-designed 2-Bedroom plus DEN, 2 Bathrooms condo offering approximately 1,280 sq. ft. of living space. 1 Parking and 1 Locker are included, with an ADDITIONAL PARKING space available for purchase.
Steps to the University of Ottawa, Rideau Centre, Shopping, Restaurants, LRT, Public Transit and all the conveniences of downtown living.

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1 Upcoming Open House at 242 Rideau St #501

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Sunday, November 222:00 PM – 4:00 PMIn person · no booking neededAdd to Google Calendar (opens in a new tab)Apple / Outlook (.ics)

2 Bed, 2 Bath Condo in Lower Town - Sandy Hill

Unit 501 at 242 Rideau Street

Enjoy an unbeatable downtown location with stunning views of Parliament Hill! A spacious and well-designed 2-Bedroom plus DEN, 2 Bathrooms condo offering approximately 1,280 sq. ft. of living space. 1 Parking and 1 Locker are included, with an ADDITIONAL PARKING space available for purchase. Featuring impressive oversized curved windows, a functional layout with generously sized bedrooms, and a versatile den ideal for a home office or additional living space, this suite offers plenty of room and flexibility for comfortable urban living.The desirable north-west exposure offers stunning sunset views, allowing you to enjoy the warm evening glow over the city. Steps to the University of Ottawa, Rideau Centre, Shopping, Restaurants, LRT, Public Transit and all the conveniences of downtown living. Experience the best of downtown living with spacious interiors and breathtaking views of Parliament Hill!

2 bedrooms, 2 bathrooms, about 1,200 sq ft, works out to roughly $458 per square foot, the bed-to-bath ratio is generous. Chat with Zara if you'd like a deeper read on whether this condo fits your budget and timing.

Inside 242 Rideau St #501

Every detail from the listing, in one place.

Type: Condo
Style: Apartment
Living space: 1200-1399 sq ftas stated on the listing
Parking: 1 spaceYes garage
Basement: None

Features & systems

Parking & garage

Garage: Yes
Parking spaces: 1

Interior

Basement: None

Lot & land

Lot size (sqft): 0

Listing & possession

Property style: Apartment
Property class: Condo Apartment

242 Rideau St #501 Price & Sale History

Earlier listings of this property, list-price changes, and the most recent annual property tax on the listing.

Nov 13, 2026For saleListedThis listingMLS® X14177012$549,900

Sourced from MLS®. Includes earlier listings of this property on record.

What's it worth?

How 242 Rideau St #501 Compares to the Lower Town - Sandy Hill Market

Zara compares it with recent sales of similar homes nearby. It's a guide, not an appraisal.

Zara’s estimate

Good Deal· based on 145 recent sales

Value your own home →How accurate are Zara’s estimates?

Summitly estimate, not from TRREB, the MLS® or the listing brokerage. Not an appraisal. How it works

Lower Town - Sandy Hill market, last 90 days

Median sold price: $549,500
Average sold price: $573,937
Average days on market: 51
Homes sold: 57

Closed sales on the TRREB MLS®.

Recently sold nearby in Lower Town - Sandy Hill

Sold prices are shown free to signed-in members, as board rules require.

6 nearby sales vs. this home

Closed sales from MLS®, compared with this home's asking price.

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Home	Sold price	$ / sqft	% of asking	Sold
This homeUnit 501 — 242 Rideau Street 2 bd · 2 ba · 1,200 sqft	$549,900asking	$458	—	—
200 Besserer Street 1 bd · 1 ba · 600 sqft
160 George Street 2 bd · 2 ba · 2,000 sqft
195 Besserer Street 1 bd · 1 ba · 600 sqft
400 Laurier Street 2 bd · 1 ba · 1,200 sqft
134 York Street 2 bd · 2 ba · 900 sqft
134 York Street 2 bd · 2 ba · 1,200 sqft

200 Besserer Street
1 bd · 1 ba · 600 sqft
160 George Street
2 bd · 2 ba · 2,000 sqft
195 Besserer Street
1 bd · 1 ba · 600 sqft
400 Laurier Street
2 bd · 1 ba · 1,200 sqft
134 York Street
2 bd · 2 ba · 900 sqft
134 York Street
2 bd · 2 ba · 1,200 sqft

Living in Lower Town - Sandy Hill: Location & Amenities

Transit, schools, parks and everyday places near this home. Select any place to open it on Google Maps.

Costs, Mortgage & Rental Return for 242 Rideau St #501

What it could cost each month, today's rates from our mortgage partner, and what it could return as a rental.

Mortgage: $2,701; 20% down · 25 years · 5.5% assumed
Property tax: $302; 0.66% mill rate · ON
Total per month: $3,003; Before utilities, insurance and fees

Figures are Summitly estimates for illustration only — not from TRREB or the MLS® feed, and not a mortgage approval, appraisal, or financial advice.

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Monthly cost

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Down payment

Rate (%)

Years

An estimate, not a quote. Utilities and insurance are extra.

Affordability calculator

Estimated monthly payment

$2,701

/mo

based on the purchase price of $549,900

Down payment20%

$109,980 cash

Amortization25 yr

$439,920 financed

Rate5.50%

$370,528 total interest

Principal54%$439,920

Interest46%$370,528

20% down · 25-yr amortization · 5.50% rate. Principal & interest only — taxes, condo fees, and insurance not included.

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Figures are Summitly estimates for illustration only — not from TRREB or the MLS® feed, and not a mortgage approval, appraisal, or financial advice.

Rental income potential

Est. monthly rent

low–high

Gross yield

rent × 12 ÷ price

Cap rate (est.)

net of tax + fees

Summitly AI estimate for discussion only — not from TRREB or the MLS® feed, and not an appraisal or investment advice. Yield and cap rate are derived from the estimated rent versus the asking price.

For homeowners nearby

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Listing brokerage: HOME RUN REALTY INC., BrokerageMLS® X14177012 · Listing data last updated November 13, 2026

Listing data comes from the Toronto Regional Real Estate Board (TRREB) and is deemed reliable but not guaranteed. Shown on Summitly by Coldwell Banker Summit Realty, Brokerage, which is not the listing brokerage. The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate and may not be used for any commercial purpose or any other purpose. © 2026 Toronto Regional Real Estate Board. All rights reserved.

Mortgage financing is arranged through Mortgage Squad Advisors. Summitly is the technology platform that powers this site. Estimated values, AI insights, calculator results, and rental projections shown on this page are generated by Summitly and are not provided by, reviewed by, or sourced from TRREB, the MLS®, or the listing brokerage; they are not appraisals or opinions of value. The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by the Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The Coldwell Banker® name and logo are trademarks of Coldwell Banker Real Estate LLC.

For sale· listed Nov 12· $458/sq ft

Estimated monthly mortgage$2,701/moMortgage only · 20% down · 5.5% assumed

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5.0 · Google rating for Coldwell Banker Summit Realty, Brokerage · as of September 2026

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