Tango — Rental Market Data

Tango at 121 McMahon Drive holds six active listings as of August 31, 2026, with asking rents ranging from $2,400 to $3,200 per month, an average of $2,658 and a median of $2,475. The average suite in the current pool measures 742 square feet at an asking rate of $3.64 per square foot. Inventory leans decisively toward compact entry-level configurations, with one-bedroom-plus-den units commanding 66.7 percent of available stock, while the two larger two-bedroom tiers each represent a single listing.

The dominant active layout at Tango is the one-bedroom-plus-den, with four units available and a 66.7 percent share of the building's current inventory. That tier averages $2,438 per month across 638 square feet at $3.82 per square foot. The remaining two listings split evenly between a two-bedroom at $3,000 per month (950 square feet, $3.16 per square foot) and a two-bedroom-plus-den at $3,200 per month (950 square feet, $3.37 per square foot), each representing 16.7 percent of active stock.

Tango's six active listings span a $800 spread from a $2,400 entry point to a $3,200 peak, a 33.3 percent range. The median asking rent sits at $2,475 per month, anchoring the lower half of the distribution. The entry-level suite is a one-bedroom-plus-den measuring 650 square feet at $3.69 per square foot, while the peak offering is a two-bedroom-plus-den at 950 square feet and $3.37 per square foot, meaning the top-tier unit delivers 46 percent more space at a lower per-square-foot rate.

Tango's active den premium cannot be reliably quantified from current listings, as the paired sample is insufficient to isolate a consistent dollar delta or marginal cost per square foot for den space. Parking premiums likewise cannot be reliably isolated from the six active listings due to an unreliable or insufficient paired sample. However, verified historical lease data confirms that parking stalls at Tango carried a $184 per month add-on, providing a reasonable benchmark for renters budgeting for a spot.

Tango's active asking rent of $2,658 per month sits $50 above the Don Valley North submarket average of $2,608, while its $3.64 per square foot rate is 7.4 percent below the submarket asking benchmark of $3.93 per square foot. The nominal rent premium is driven by the building's larger average suite footprint of 742 square feet compared to the submarket norm, not by a higher per-unit pricing structure. Tango's six listings represent approximately 2.7 percent of the 225 active units currently available across the Don Valley North submarket.

Tango's average closed-lease rent of $2,366 per month runs $116 below the four-comparable average of $2,482, placing it at a 4.7% discount to the nearest benchmark, Opus. Omega on the Park at 115 McMahon Dr leases at $2,337 per month ($3.90 per square foot across 611 square feet), making it the most affordable comp by a narrow $29 margin. Opus at 117 McMahon Dr matches the comp average exactly at $2,482 per month ($3.88 per square foot, 651 square feet). Seasons I at 95 McMahon Dr commands the highest rent in the set at $2,687 per month ($3.99 per square foot across 677 square feet), a $321 premium over Tango. Tango 2 at 72 Esther Shiner Blvd leases at $2,422 per month ($3.40 per square foot across 724 square feet), sitting $56 above Tango's realized rate.

Tango delivers a competitive per-square-foot rate of $3.64 across its 655-square-foot average suite, trading at a discount below three of four nearby competitors while commanding a modest premium only over its same-era sibling, Tango 2. Against Omega on the Park, Tango offers 44 additional square feet at a rate $0.26 per square foot lower, giving renters more interior space for less per-unit cost. Compared to Opus, Tango provides 4 more square feet at $0.24 per square foot less, a marginal but consistent value edge. Seasons I, the newest building in the set, offers 22 more square feet than Tango at $3.99 per square foot—$0.35 higher—meaning tenants gain roughly 3% more space but pay a nearly 10% premium per unit of area. Tango 2 is the one comp where Tango trades at a premium: $0.24 per square foot higher, yet Tango's suites are 69 square feet smaller, so renters choosing Tango 2 gain meaningful extra space at a lower per-square-foot cost. Overall, Tango's value proposition centers on a mid-range rate with a well-appointed amenity suite, appealing to renters who prioritize lifestyle features over maximum square footage.

Tango's amenity profile leans toward wellness, social dining, and relaxation, distinguishing it from the sports-court-heavy programs at its three McMahon Drive neighbours. Where Omega on the Park, Opus, and Seasons I each feature basketball courts, tennis or pickleball courts, and bowling alleys, Tango instead offers a dedicated Massage Lounge, a full Dining Room & Kitchen, and a Pet Wash Station—features absent from all three of those properties. Tango also includes an Indoor Pool and Tai Chi Deck; while Tango 2 shares the Pet Wash Station and Tai Chi Deck, it lacks the Indoor Pool, the Massage Lounge, and the Dining Room & Kitchen that round out Tango's social and wellness offering. Seasons I counters with a Kids Splash Pool, Wine Tasting Room, and EV Charging Station that Tango does not provide, but none of the four competitors match Tango's combination of in-building dining, therapeutic massage, and pet-care services under one roof. This lifestyle package is best suited to wellness-oriented professionals and small households who value a social, low-maintenance environment with on-site relaxation and pet-friendly convenience over competitive sports facilities.