Tricycle Condos — Rental Market Data

Tricycle Condos has one active listing as of August 31, 2026, asking $2,750 per month with both the average and median rent at $2,750. The available suite measures 900 square feet at an asking rate of $3.06 per square foot, and the 100 percent layout share belongs to a two-bedroom plus den configuration. With only a single unit on the market, inventory is neither skewed toward compact entry-level suites nor multi-bedroom executive layouts—it is a one-off listing that happens to occupy the upper end of the building's bedroom tier.

The sole active layout at Tricycle Condos is a two-bedroom plus den, representing 100 percent of available inventory with one listing at an average asking rent of $2,750 per month. That unit spans 900 square feet at $3.06 per square foot, and no other bedroom tier—studio, one-bedroom, or three-bedroom—currently has an active listing. Renters seeking a different configuration at this address must look to the broader Scarborough City Centre submarket, where 74 listings are available across competing buildings.

Tricycle Condos shows a minimum entry rent of $2,750 per month and a peak asking rent of $2,750 per month, producing a dollar spread of zero and a percentage spread of zero percent because only one unit is listed. The median asking rent is likewise $2,750, and the entry-level suite in this case is the same two-bedroom plus den at 900 square feet and $3.06 per square foot. Because there is no second listing to contrast, the peak suite is identical to the minimum, and no internal price gradient exists within the building's current active inventory.

Tricycle Condos does not have a quantified den premium or square-footage delta for its active listing, as the single available unit already includes a den and no comparable den-free listing exists to isolate the marginal cost. Parking stall premiums also cannot be reliably isolated from the current data, as the paired sample is insufficient to produce a defensible figure. Prospective renters should request a written parking add-on quote directly from the leasing office rather than relying on market estimates for this building.

Tricycle Condos' active asking rent of $2,750 per month exceeds the Scarborough City Centre submarket asking average of $2,495, but the per-square-foot rate of $3.06 is 8.4 percent below the submarket asking benchmark of $3.34 per square foot. The nominal rent gap resolves through suite size: the active unit at 900 square feet is substantially larger than the typical submarket listing, so the higher monthly figure reflects additional living space rather than a premium rate. Tricycle Condos accounts for one out of 74 available listings in the Scarborough City Centre submarket, a 1.4 percent share of total active inventory.

Tricycle Condos' average realized lease rent of $2,212 per month sits $214 below the four-comp benchmark of $2,426, with the gap concentrated against the larger-suite competitors on Lee Centre Drive. ME Living 2 at 20 Meadowglen Pl (0.08 km, 15 closed leases) averaged $2,439 per month at $3.44 per square foot over 728 square feet, placing the subject $227 lower in nominal rent. ME Living 1 at 30 Meadowglen Pl (0.08 km, 17 closed leases) averaged $2,249 per month at $3.69 per square foot over 634 square feet, a margin of just $37 below the subject. May Tower II at 11 Lee Centre Dr (1.47 km, 12 closed leases) averaged $2,429 per month at $3.15 per square foot over 777 square feet, and May Tower at 1 Lee Centre Dr (1.48 km, 4 closed leases) averaged $2,588 per month at $2.96 per square foot over 875 square feet—the two widest nominal gaps in the set at $217 and $376 below the subject, respectively. All four competitors recorded active closed-lease volume, so no zero-transaction reference buildings factor into this comparison.

Tricycle Condos leases at $3.53 per square foot over an average 639-square-foot suite, a rate that exceeds the four-comp blended benchmark of $3.31 per square foot while delivering materially less interior space than three of the four active competitors. Against ME Living 2, the subject trades at a $0.09 per square foot (2.6%) premium while providing 89 fewer interior square feet, meaning the lower nominal rent ($227 less per month) is driven entirely by the smaller footprint rather than a weaker asset valuation. Versus ME Living 1, the subject offers a $0.16 per square foot (4.3%) discount and provides 5 more interior square feet, making it the one comp where the subject is both cheaper per unit of space and marginally larger. Against May Tower II, the subject commands a $0.38 per square foot (12.1%) premium with 138 fewer square feet, and against May Tower it carries a $0.57 per square foot (19.3%) premium with 236 fewer square feet. In every case the nominal rent gap is a function of suite size: tenants at Tricycle Condos accept a compact footprint in exchange for a 2024-built product and a lower absolute monthly outlay.

Tricycle Condos offers a nine-item lifestyle package anchored by a dedicated Yoga Studio, BBQ Area, Rooftop Terrace, and Games & Billiards Room, but it does not include any aquatic facilities, meeting rooms, or media theatres that define its nearest competitors. ME Living 2 (20 Meadowglen Pl) differentiates with an Indoor Pool, Outdoor Pool, Meeting Room, and Media & Theatre Room—none of which appear in the subject's amenity list. ME Living 1 (30 Meadowglen Pl) adds an Outdoor Pool, Hot Tub & Jacuzzi, Meeting Room, Media & Theatre Room, and a Children's Playground. The Lee Centre towers extend the contrast further: May Tower II and May Tower both feature Indoor Pools, Hot Tubs, Saunas & Steam Rooms, Basketball Courts, Meeting Rooms, and Library & Reading Rooms. The subject's Yoga Studio is the one signature amenity absent from all four competitors, and its BBQ Area is shared only with ME Living 1 and May Tower II. This package targets cost-conscious young professionals and small households who prioritize a modern, low-maintenance living environment with a wellness-oriented studio over resort-style aquatic or recreational facilities, and who are willing to trade suite size for a lower absolute monthly rent in a 2024-built building.