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Zara is an AI virtual agent. Advisors are licensed REALTORS® at Coldwell Banker Summit Realty, Brokerage.
1 Bed, 1 Bath Condo in Toronto
Unit 631 at 505 Richmond Street West
Experience sophisticated downtown living at the iconic Waterworks Residences! Located in the heart of Toronto's vibrant Fashion District, this stylish suite combines contemporary urban living with the charm of a beautifully restored heritage building. Enjoy an unbeatable location steps from St. Andrew's Playground, Waterworks Food Hall, Queen West, King West, The Well, trendy restaurants, cafés, shopping, and public transit. Exceptional building amenities include a concierge, fitness centre, party room, visitor parking, and bicycle storage. Includes a separate owned storage locker. An excellent opportunity for investors, first-time buyers, or anyone seeking a convenient downtown lifestyle in one of Toronto's most desirable neighbourhoods. Don't miss this opportunity!
1 bedroom, 1 bathroom, 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 505 Richmond St W #631
Every detail from the listing, in one place.
Type
Condo
Style
Apartment
Living space
0-499 sq ftas stated on the listing
Basement
None
Features & systems
Parking & garage
Garage
Yes
Parking spaces
0
Interior
Basement
None
Lot & land
Lot size (sqft)
0
Listing & possession
Property style
Apartment
Property class
Condo Apartment
505 Richmond St W #631 Price & Sale History
Earlier listings of this property, list-price changes, and the most recent annual property tax on the listing.
For saleListedThis listingMLS® C14084244$630,000
Sourced from MLS®. Includes earlier listings of this property on record.
What's it worth?
How 505 Richmond St W #631 Compares to the Toronto Market
Zara compares it with recent sales of similar homes nearby. It's a guide, not an appraisal.
Zara’s estimate
$•,•••,•••
Estimated from city-wide sales. There isn’t enough detail on this listing to rate the price.
Independent mortgage broker · OAC · rates subject to change and underwritingMortgage Squad →
Referral disclosure: Summitly may refer you to Mortgage Squad Advisors, an affiliated mortgage partner. You are free to choose any lender or mortgage professional.
Monthly cost
Enter a rate to see the monthly cost
An estimate, not a quote. Utilities and insurance are extra.
Affordability calculator
Estimated monthly payment
$3,095
/mo
based on the purchase price of $630,000
$126,000 cash
$504,000 financed
$424,500 total interest
Principal54%$504,000
Interest46%$424,500
20% down · 25-yr amortization · 5.50% rate. Principal & interest only — taxes, condo fees, and insurance not included.
Want rate-drop alerts and a saved shortlist?
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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Zara · AI virtual agent
Ask about 505 Richmond St W #631 day or night. Zara reads this listing and answers in plain words. When you want a person, she hands you to a licensed agent.
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Your agent shows you the home, checks the paperwork and negotiates your offer, on your side, not the seller's.
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.
Similar homes for sale nearby in Toronto
Other 1–2 bed homes for sale in Toronto around $630K.
Average days on market31Homes sold in about 31 days on average.
Sale-to-list ratio4961.8%On average, homes sold at or above asking.
Active listings12,895Homes for sale here right now.
Median vs prior 90 days+2.4%Compared with Apr 19 – Jul 18, 2026: prices up.
Based on 9,562 sales from Jul 18 – Oct 16, 2026 (6,653 in the prior 90 days). Aggregate MLS® figures for closed sales; individual sold prices are shown only to signed-in members.
505 Richmond St W #631 is listed at $630,000 (MLS® C14084244). Summitly updates the price as soon as the MLS® record changes.
Has the price of 505 Richmond St W #631 changed?
No — 505 Richmond St W #631 is still listed at its original asking price of $630,000.
How many bedrooms and bathrooms does 505 Richmond St W #631 have?
505 Richmond St W #631 has 1 bedroom and 1 bathroom, with about 0–499 square feet of living space. It is a condo in Toronto.
Is 505 Richmond St W #631 close to transit?
The nearest rapid-transit station is Osgoode Station (Line 1), about 1.1 km (about a 14-minute walk) in a straight line. St. Andrew Station is about 1.2 km (about a 15-minute walk), and St. Patrick Station is about 1.2 km (about a 15-minute walk). Distances are straight-line, not walking routes; check the transit agency for routes and schedules.
How much would the monthly mortgage be on 505 Richmond St W #631?
About $3,095 a month — principal and interest on $630,000 with 20% down ($126,000), a 25-year amortization and an assumed 5.5% interest rate. The mortgage calculator on this page lets you change the down payment, amortization and rate.
How does 505 Richmond St W #631 compare with other homes in Toronto?
Its asking price of $630,000 is about 25% below the median sold price in Toronto over the last 90 days, $845,000, across 9,562 closed sales on the TRREB MLS®. A city median mixes every type and size of home, so the comparable sales on this page are the closer guide.
Has 505 Richmond St W #631 been sold before?
Summitly has no earlier MLS® sale or lease of 505 Richmond St W #631 on record from the last two years. Older records aren't shown under TRREB rules.
Where is 505 Richmond St W #631?
505 Richmond St W #631 is in Toronto, ON. Schools, transit, parks and shops nearby are under Location & lifestyle on this page.
How long has 505 Richmond St W #631 been on the market?
1 day — 505 Richmond St W #631 was listed on October 15, 2026.
What is the price per square foot of 505 Richmond St W #631?
About $1,263 per square foot: the asking price of $630,000 over the 0–499 sq ft the listing gives.
Does 505 Richmond St W #631 have parking or a garage?
Garage: Yes.
Does 505 Richmond St W #631 have a basement, and is it finished?
The listing says 505 Richmond St W #631 has no basement.
