$390K · 1 bed Condo Apartment · Commerce Valley, Markham

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About this home

Location, Location, Location! Welcome To The Derby Tower Offers Both Comfort And Convenience In Prime Commerce Valley Neighbourhood. Whether You are a First-Time Home Buyer Looking For A Starter Condo, A Downsizer or an Investor, this Bright 1 Bedroom 1 Bathroom Condo Offers Plenty Of Natural Light, Great Layout, Open Concept Kitchen, Laminate Flooring Throughout The Living & Dining Room & Bedroom. Condo Fee Includes Hydro, Water, AC, Heat, and a 24 Hour Concierge, EV Charging Station (Pay Per U…

Property details

MLS#

N13232862

Status

Buy Now

Beds

Baths

1 full, 0 half

Size

600-699

Style

Apartment

Type

Condo Apartment

Year built

—

Property features: Park, Public Transit, School

Condo corp #: 958
Balcony: None
Locker: None
Association amenities: Concierge, Exercise Room, Gym, Party Room/Meeting Room, Sauna, Visitor Parking
Fees include: Heat Included, Hydro Included, Water Included, CAC Included, Common Elements Included, Building Insurance Included, Parking Included
Pets: Yes-with Restrictions

Garage: 1-car Underground
Garage spaces: 1
Parking: 1 total
Heating: Forced Air
Heating fuel: Gas
Cooling: Central Air
Fireplaces: —
Waterfront: No
Exterior: Concrete
Fronting on: —
Cross street: Highway 7 / Pond Dr
Basement: None
Stories: 3
Utilities: —
Laundry: Ensuite
Interior: Carpet Free
Parking features: Underground

Level	Room	Dimensions
Flat	Living Room	3.05m × 5.93m
Flat	Dining Room	3.05m × 5.93m
Flat	Kitchen	2.43m × 2.63m
Flat	Primary Bedroom	2.83m × 4.28m

Level

Room

Dimensions

Flat

Living Room

3.05m × 5.93m

Flat

Dining Room

3.05m × 5.93m

Flat

Kitchen

2.43m × 2.63m

Flat

Primary Bedroom

2.83m × 4.28m

Annual costs

Monthly carrying costs, utilities, and closing cost estimates.

Pre-filled from listing✓ $390,000✓ $1,755 tax✓ Gas✓ 600-699 ft²✓ Ontario· Listing facts below · Ontario averages for utilities — drag sliders to match your home

Monthly all-in

$3,842/mo

incl. closing costs (yr 1)

Annual total

$46,105

year 1

Mortgage only

$1,480/mo

principal + interest

Beyond mortgage

$1,544/mo

taxes, utilities, upkeep

Financing

Purchase price

Down payment20%$78,000

20%+ down — no CMHC premium

Mortgage rate3.00%

Amortization

Province

Government

Property tax (annual)from listing$146/mo

Utilities

Hydro / electricity$75/mo

≈ $0.07/ft² × ~650 ft² · ON avg ~$75/mo

Gas$125/mo

Typical ON gas-heated home · ~$125/mo

Water / sewer$60/mo

ON municipal avg ~$60/mo

Internet / TV / phone$70/mo

ON internet/TV avg ~$70/mo

Maintenance & upkeep

Maintenance reserve1.0%$3,900/yr

1% of value/yr — standard reserve

Landscaping & snow$0/mo

Landscaping & snow removal · $0 default

Home insurance$100/mo

$100/mo default · adjust for your home

Security system$0/mo

Optional monitoring · $0 default

Condo / HOA fees (mo)$54/mo

From listing or typical fee

Closing costs (one-time, year 1)

Land transfer tax (ON)computed$4,325

Legal / lawyer fees

Home inspection

Title insurance

Moving costs

CMHC premiumNone (20%+ down)

Cost composition

Mortgage (P+I)39% $17,754/yr

Property taxes13% $6,080/yr

Utilities9% $3,960/yr

Insurance & security3% $1,600/yr

Maintenance8% $3,900/yr

Condo fees17% $7,711/yr

Closing costs11% $5,100/yr

Mortgage is 39% of your true cost of ownership. The other 61% surprises most first-time buyers.

Full breakdown

Mortgage & financing
Mortgage (P+I)	$17,754	$1,480/mo
Government & taxes
Property tax	$1,755	$146/mo
Land transfer tax(closing)	$4,325	$360/mo
Insurance & protection
Home insurance	$1,200	$100/mo
Title insurance(closing)	$400	$33/mo
Utilities
Hydro / electricity	$900	$75/mo
Gas	$1,500	$125/mo
Water & sewer	$720	$60/mo
Internet / TV / phone	$840	$70/mo
Maintenance & upkeep
Maintenance reserve (1.0%)	$3,900	$325/mo
Condo fees
Condo / HOA fees	$7,711	$643/mo
Closing costs (one-time)
Legal / lawyer(closing)	$2,500	$208/mo
Home inspection(closing)	$600	$50/mo
Moving costs(closing)	$2,000	$167/mo
Total	$46,105	$3,842/mo

Listing facts below · Ontario averages for utilities — drag sliders to match your home. CMHC added to loan principal only — not double-counted in chart.

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Annual costs