550 North Service Road 1201, Grimsby

$399,900
550 North Service Road 1201

$399,900

New
15d
Condo Apartment1 Storey/Apt

550 North Service Road 1201, Grimsby

Total Monthly Obligation $2,707

Beds
2
Baths
1
Park
1
Sqft
800-899
DOM
15d
Score
23
Yield
7.8%
Cash on Cash
0.9%
Cap Rate
4.8%
5Y IRR
16.2%
10Y IRR
15.2%
Property Type-Condo Apartment
MLS® Number-X13877870
Beds-2
Bathrooms-1
Size-800-899 sqft
Listed on site-Oct 8, 2026
Style-1 Storey/Apt
Building Type-Condo Apartment
Age-6-10
Taxes-$3,200 (2025)
Maintenance-$627.73/mo
Locker-Owned
Parking-2 - Underground
Basement-None
Heating-Heat Pump (Electric)
Brokerage-RE/MAX ESCARPMENT REALTY INC.
Cooling-Central Air
Laundry-Yes
Fireplace-No
Pool-None
Exterior-Aluminum Siding, Stucco (Plaster)
Roof-Other
Possession-Immediate
Neighbourhood-540 - Grimsby Beach
Title-Residential Condo & Other

No agent assigned

Welcome to modern condo living at its finest. This stunning two-bedroom, one-bathroom corner suite offers over 800 square feet of bright, thoughtfully designed living space, enhanced by expansive wrap-around windows that flood the home with natural light. The contemporary kitchen is both stylish and functional, featuring white shaker cabinetry, stainless steel appliances, quartz countertops and a spacious island perfect for casual dining and entertaining. The open-concept living area seamlessly extends to a private balcony where breathtaking views of the Niagara Escarpment and Lake Ontario create the perfect backdrop for morning coffee or evening relaxation. Convenient in-suite laundry adds everyday practicality, while the elegant four-piece bathroom is finished with a sleek quartz vanity. Both bedrooms are generously sized and feature floor-to-ceiling windows, offering abundant natural light and impressive views. The primary bedroom also includes a walk-in closet. This unit comes with one underground parking space and one storage locker. Residents enjoy an exceptional array of amenities, including concierge and security services, a fully equipped fitness centre, party room, dedicated workspace, and a beautifully designed elevated terrace. Ideally located with quick access to the QEW, as well as nearby shopping, dining, and everyday conveniences, this exceptional condo offers the perfect combination of comfort, style, and convenience. RSA.

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

Closing Costs

Mortgage Amount
$319,920
Land Transfer Taxes$4,474
Legal Fees (Est.)
$
Total cash required for closing$85,954

Total Monthly Obligation

$2,707/mo
Mortgage $1,613
Monthly Loss $2,283
Principal$424
Interest$1,189
Property Tax$267
Condo Fees$628
Home Insurance$50
Variable Costs$150
Returns
Weight: 25%
Cap Rate
3.8%25
Cash-on-Cash
-5.0%2
5-Year IRR
12.0%50
10-Year IRR
12.4%
Returns Index
25.9/ 100
Growth Sentiment
Weight: 20%
%/yr
Score+50
%/yr
Score+50
%
%
Growth Index
50.0/ 100
GradeD
23/ 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
$31,332/yr
NOI
$15,066/yr
Net Cash Flow
-$358/mo
Cash Margin
-13.7%0
Cash Flow Index
0.3/ 100
Risk Profile
Weight: 20%
DSCR
0.7813
LTV Ratio
80.0%18
Vacancy Buffer
3.5 mo60
Risk Index
30.6/ 100

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

Comparables

Properties near 550 North Service Road 1201

Time

Comparables are calculated within a 3km radius based on properties sold or leased within the past 6 months. This helps you understand the current market value and potential rental yield with high precision.

Data is provided courtesy of PropTx.

The information provided herein must only be used by consumers who have a bona fide interest in the purchase, sale, or lease of real estate and may not be used for any commercial or other purpose.

Listing information is deemed reliable but not guaranteed accurate by PropTx or TRREB.

REALTOR®, REALTORS®, and the REALTOR® logo are certification marks owned by REALTOR® Canada Inc. and licensed exclusively to the Canadian Real Estate Association (CREA).

The MLS® trademark and MLS® logo are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA.

Data last updated within the past 24 hours.