First-Time Buyer Alert: Toronto Condos Under $400,000 | Pick 5 Edition

In this week’s Pick 5, David focuses on something that seemed impossible just a few years ago: Toronto condos under $400,000. After spotting multiple downtown units over 500 square feet priced at $399K, he breaks down five listings that stand out as real opportunities for first-time buyers and potentially investors in early 2026.

From King West soft lofts to east-end alternatives, this episode looks at price-per-square-foot, replacement value, location trade-offs, and why this segment of the market may be presenting once-in-a-cycle value.

This week’s picks:

1:32 – 458 Richmond St W: 519 sq ft unit priced at $399K in prime King West, coming in around $769 per square foot. Junior one-bedroom layout, outdoor space, newer building, and well below estimated replacement cost
4:38 – 549 King St E: 503 sq ft soft loft in Corktown with 10 ft ceilings, priced at $399K. Excellent layout, strong presentation, rooftop amenities, and one of the standout values of the episode
8:12 – 85 Queens Wharf Rd: A corner unit at 515 sq ft for $399.9K in a newer high-rise. Busy location and lower floor, but solid square footage and value for buyers who want a downtown lifestyle
11:02 – 8 Trent Ave: East-end option offering 566 sq ft at $399K, roughly $707 per square foot. No-frills finishes, efficient layout, and strong value for buyers looking outside the core
13:42 – 45 Connaught Ave #101: Boutique building with 515 sq ft priced at $423K but sitting on the market long enough to suggest a sub-$400K sale. Ground-level unit, high ceilings, and a quieter east-side alternative

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