3506- 385 Prince Of Wales Drive, Mississauga
City Centre · Investor guide
$389,500
Estimated Value
$325,000
Based on neighbourhood averages
Cash flow, cap rate & mortgage breakdown
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Listed by EXP REALTY
Investment Analysis
Key Facts
Type
Condo Apartment
Bedrooms
1
Bathrooms
1
Days on Market
11
Price Drop
None
Year Built
N/A
Status
Active
Basement Income
None Detected
Rent Estimate
$1,850/mo
Based on City Centre neighbourhood rental data for 1-bed Condo Apartment
Remarks
This elegant 1-bedroom + Media space located in the heart of Mississauga's City Centre, and walking distance to Square One Shopping Centre. This timeless open-concept suite includes high ceilings, rich laminate flooring throughout, a classy contemporary kitchen with granite countertops and rich cabinetry. The living room provides ample space and access to large balcony space. The roomy bedroom includes large closet. This unit also includes 1 parking space and 1 locker. Residents enjoy resort like amenities, including a fully equipped fitness centre, indoor swimming pool, virtual golf simulator ,rock-climbing wall, party and recreation rooms, rooftop BBQ terrace, and 24-hour concierge service, guest suites and even a theatre room! Close proximity and walking distance to Sheridan College, Mississauga City Hall, Living Arts Centre, Celebration Square, Mississauga City Living Arts Centre, MiWay transit, GO Transit cafés, entertainment, restaurants and grocery stores. Ideal for Commuters as quick access to QEW, Highways 403, 401, and for convenient travel throughout the GTA Great for first-time buyers, professionals, or those looking to purchase in the heart of Mississauga.
MississaugaInvestor.ca
3506- 385 Prince Of Wales Drive
Condo Apartment · 1bd/1ba · ~550 sqft
$389,500
Cash-Flow Report · July 31, 2026
Cap Rate
2.25%
Monthly Cash Flow
-$1,063/mo
Estimated Rent
$1,850/mo
Cash-on-Cash
-14.97%
Monthly (20% down · 4.89% rate · 25yr)
| Gross Rent | +$1,850 |
| Mortgage | −$1,793 |
| Property Tax | −$273 |
| Insurance | −$225 |
| Condo Fee | −$529 |
| Vacancy (5%) | −$93 |
| Cash Flow | -$1,063/mo |
Annual NOI & Cap Rate (All-Cash)
| Gross Rent | +$22,200 |
| Vacancy (5%) | −$1,110 |
| Property Tax | −$3,272 |
| Insurance | −$2,700 |
| Condo Fee | −$6,348 |
| Annual NOI | $8,770 |
| Cap Rate | 2.25% |
Cash Required to Close
| Down Payment (20%) | $77,900 |
| Ontario Land Transfer Tax | $4,318 |
| Legal & Title Insurance | $2,500 |
| Inspection & Misc | $500 |
| Total Cash Required | $85,218 |
Assumptions: 20% down · 4.89% rate · 25yr amort · Canadian semi-annual compounding · $225/mo insurance · maintenance reserve = greater of 8% of rent or 1% of value/yr (condo fee replaces it) · 5% vacancy · rent estimated from neighbourhood MLS comps. All figures are estimates — verify with a licensed professional before making an investment decision.
Prepared by Hamza Nouman · RECO-registered Investor Specialist · 647-609-1289 · hamza@nouman.ca · MississaugaInvestor.ca
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