388 Prince of Wales Drive 406, Mississauga

$589,900
388 Prince of Wales Drive 406

$589,900

New
22d
Condo ApartmentApartment

388 Prince of Wales Drive 406, Mississauga

Total Monthly Obligation $3,682

Bed+Den
3+1
Baths
2
Park
1
Sqft
900-999
DOM
22d
Score
17
Yield
5.7%
Cash on Cash
-6.3%
Cap Rate
3.2%
5Y IRR
10.6%
10Y IRR
10.7%
Property Type-Condo Apartment
MLS® Number-W13856846
Bed+Den-3+1
Bathrooms-2
Size-900-999 sqft
Listed on site-Oct 1, 2026
Style-Apartment
Building Type-Condo Apartment
Taxes-$3,894 (2026)
Maintenance-$778/mo
Locker-Owned
Parking-1 - Underground
Basement-None
Heating-Forced Air (Gas)
Brokerage-RE/MAX REALTY SPECIALISTS INC.
Cooling-Central Air
Laundry-No
Fireplace-No
Pool-None
Exterior-Aluminum Siding
Possession-Flexible
Neighbourhood-City Centre
Title-Residential Condo & Other

No agent assigned

Welcome to the Vienna model at 388 Prince of Wales Drive, a massive corner unit impeccably maintained in the absolute heart of Mississauga City Centre. This bright and functional 2+1 bedroom, 2-bathroom suite offers 961 square feet of open-concept living space, highlighted by hardwood flooring throughout the principal rooms. The spacious layout features completely separated living and dining/den areas, making it ideal for a formal dining room, home office, or quiet study. The absolute showstopper is the incredible wrap-around terrace-a walk-out from the living area overlooking the front and side courtyards. The recently refinished kitchen comes complete with stainless steel appliances, tile flooring, and ample cabinetry, seamlessly overlooking the main living and dining spaces. Retreat to the primary bedroom featuring a walk-in closet and a 4-piece ensuite, alongside a generously sized second bedroom boasting a large window and closet. Residents enjoy resort-style living with world-class amenities, including a 24-hour concierge, indoor pool, sauna, fitness centre, rooftop terrace, party room, guest suites, and a golf simulator. Steps from Square One Shopping Centre, Celebration Square, Sheridan College, public transit, restaurants, and entertainment, this move-in-ready condo offers the perfect blend of luxury, comfort, and urban convenience.

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%
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$
$
(utilities, internet...)
$
%
%

Closing Costs

Mortgage Amount
$471,920
Land Transfer Taxes$8,273
Legal Fees (Est.)
$
Total cash required for closing$127,753

Total Monthly Obligation

$3,682/mo
Mortgage $2,379
Monthly Loss $3,056
Principal$626
Interest$1,753
Property Tax$325
Condo Fees$778
Home Insurance$50
Variable Costs$150
Returns
Weight: 25%
Cap Rate
2.5%15
Cash-on-Cash
-10.8%1
5-Year IRR
7.4%20
10-Year IRR
8.7%
Returns Index
11.2/ 100
Growth Sentiment
Weight: 20%
%/yr
Score+50
%/yr
Score+50
%
%
Growth Index
50.0/ 100
GradeD
17/ 100
Avoid•Pass

Strategy: Buy & Hold — Weights: CFI 35% · RI 25%
RKI 20% · GI 20%

Assumptions & Inputs
$/mo
%
$
yr
%
Cash Flow
Weight: 35%
Gross Rent
$33,876/yr
NOI
$14,858/yr
Net Cash Flow
-$1,141/mo
Cash Margin
-40.4%0
Cash Flow Index
0.0/ 100
Risk Profile
Weight: 20%
DSCR
0.525
LTV Ratio
80.0%18
Vacancy Buffer
2.6 mo42
Risk Index
21.9/ 100

*This analysis is independently generated NOT provided by TREB or CREA.

Comparables

Properties near 388 Prince of Wales Drive 406

Time

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