Buyer CMA — 207-110 Marine Parade Dr

Section 1

What the Numbers Say at a Glance

$670K

Avg Sold Price

Average across 4 comparable sold 2-bed units (non-waterfront adj.) in this market

$790
Non-WF $/sq ft
Average price per sq ft for non-waterfront 2-bed sold comps — your benchmark

$960

Waterfront $/sq ft

Waterfront or water-view units carry a meaningful premium — 21% above non-WF

97%

Avg SP/LP Ratio

Sellers are achieving very close to asking — market is active, not desperate

Section 2

What the Market Is Actually Doing

Every comparable 2-bedroom condo sold or listed in this community, ordered by sale price. Waterfront/water-view units are shown in blue — they command a clear premium over non-waterfront comps.

606-110 MP Dr

2 bed / 1 bath · 628 sqft · Non-WF

★ $535,000

12 DOM

1603-56 Annie Craig Dr

1+1 bed / 1 bath · 670 sqft · Non-WF

$603,000

103 DOM

604-110 MP Dr

2 bed / 2 bath · 817 sqft · Water View ★

$685,000

18 DOM

3605-56 Annie Craig Dr

2 bed / 2 bath · 714 sqft · Waterfront ★

$685,000

23 DOM

608-110 MP Dr

2 bed / 2 bath · 900 sqft · Non-WF (NW)

★ $660,000

14 DOM

4104-56 Annie Craig Dr

2 bed / 2 bath · 714 sqft · Waterfront ★

$700,000

50 DOM

207-110 MP Dr ← SUBJECT

2 bed / 2 bath · 843 sqft · Non-WF (SW)

$674,000 ASKING

5 DOM

Sold — Non-Waterfront

Sold — Waterfront / Water View

Active — Subject Property

★ Sold at/above ask or quickly

Why the waterfront premium matters: Waterfront and water-view units (604 MP Dr, 3605 & 4104 Annie Craig) sold at approximately $940–$980/sqft. Non-waterfront comparables (606 MP Dr, 608 MP Dr) traded between $730–$835/sqft. Your subject property at 207 MP Dr has SW exposure and building amenities include lake access & marina — but the MLS indicates it is not a waterfront/direct water-view unit. The asking price of $674,000 ($798/sqft) sits at the top of the non-waterfront range.

Section 3

The Competition: What Else Is on the Market

Only one other active listing was identified in this community. The subject property stands largely alone in the 2-bed/2-bath segment right now — limited competition may explain the confident asking price.

SW Lake Views

$674,000

5 DOM

★ 207-110 Marine Parade Dr — SUBJECT

2 Bed · 2 Bath · 848 sqft (above grade) · SW Exposure

MLS# W12953420 · New listing April 2, 2026. 9ft ceilings, motorized blinds, centre island, quartz counters, glass shower, 24hr concierge, gym, pool. Parking + locker owned. Condo fees $830.95/mo. Note: previously listed for lease at $3,100/mo (March 2026, terminated). Owner now selling.

Market Note

Limited Active Competition

Humber Bay Shores — 2 Bed / 2 Bath Segment

No other 2-bed/2-bath units were identified as active listings in the 110 Marine Parade or 56 Annie Craig buildings at the time this report was prepared. The lack of direct competition gives this seller pricing confidence. As a buyer, you have limited alternatives — but the sold data provides a clear anchor for value.

Section 4 — Subject Property

207-110 Marine Parade Drive: The Full Picture

Transaction History

April 2017

Leased — $2,350/mo

MLS# W3772764. First known leasing activity — unit was investor-owned from early on.
Feb – Apr 2024

Leased — $3,300/mo

MLS# W8099402. Leased quickly — steady rental demand in the building.
March 12, 2026

Listed for Lease — $3,100/mo

MLS# W12875604. Attempted another lease but terminated after ~20 days.
April 1, 2026

Lease Listing Terminated

Seller pivoted from renting to selling — decision came quickly after the lease attempt failed.
April 2, 2026 — ACTIVE

Listed for Sale — $674,000

MLS# W12953420. 5 DOM as of report date. No price reductions yet. Vacant — 60–90 day closing available.

Comparable Value Analysis

Asking Price	$674,000
Asking Price ($/sqft)	$798/sqft
Closest Sold Comp 608 MP Dr · 900 sqft · Non-WF	$660,000 $733/sqft
Non-WF Avg Sold $/sqft	~$783/sqft
Waterfront Avg Sold $/sqft	~$960/sqft
Implied Value @ Non-WF $/sqft 843 sqft × $783	~$660,000
Estimated Fair Value Range	$640K – $670K

Fair Value Range vs. Asking

$600K $640K–$670K ← Fair Value $700K

Key insight: The seller is asking $798/sqft — above the ~$783 non-waterfront average — while this is not a waterfront unit. The most recent non-waterfront 2-bed/2-bath comp (608 MP Dr, sold Oct 2025 at $660,000 for 900 sqft) traded at $733/sqft. The subject unit is newer to market with SW exposure and a premium maintenance fee ($830/mo), which partially justifies a premium — but the data supports a fair value closer to $640K–$670K.

Section 5

Key Takeaways & Recommended Action

This is an active market — sellers are achieving 96–98% of ask. Waterfront units at 56 Annie Craig sold at 96–98% of their final list prices within 23–50 days, and non-waterfront comps moved even faster (12–14 DOM). Don't expect a deep discount, but there is room to negotiate below asking.
Waterfront vs. non-waterfront is the single biggest pricing factor. Waterfront/water-view units in this community are trading at roughly $940–$980/sqft, while non-waterfront units land at $730–$835/sqft. Unit 207 is non-waterfront (Waterfront Y/N: No per MLS), meaning the asking price of $798/sqft is at the upper boundary of fair value for its category.
The seller tried to lease this unit first — and failed. The lease listing ($3,100/mo) was terminated after just ~20 days in March 2026. This signals motivation to sell quickly and may give you modest negotiating leverage. The pivot from lease to sale in under a week suggests the seller has made a decision and wants to move.
The unit is vacant and available — that has real value. A 60–90 day flexible closing on a vacant unit means you can take possession quickly, rent immediately, or move in without the hassle of coordinating with a tenant. This is a genuine positive for the seller's position.
The strongest comparable is 608-110 MP Dr (same building, 2 bed/2 bath, non-WF, 900 sqft), which sold in October 2025 for $660,000 ($733/sqft). Your unit at 843 sqft with SW exposure is slightly smaller but arguably better positioned — fair value lands between those figures.
Based on the sold data, comparable $/sqft, and current market conditions, the data supports an offer in the range of $640,000 – $660,000. An offer at $650,000 represents approximately 96% of ask — in line with recent SP/LP ratios in this community — and should be taken seriously by the seller. Going in at full ask ($674,000) is not supported by the non-waterfront comp data.