Totem Condominium — Rental Market Data

Totem Condominium's all-time average realized lease rent of $2,440 per month sits $544 below the four-comparable benchmark of $2,984 per month and $196 below the Cabbagetown submarket average of $2,636 per month. Against the three active-volume peers, the subject trades at a lower monthly rent in every case: $181 below 22 Condominiums at 22 Wellesley St E (0.05 km, seven closed leases, $2,621 average rent, $4.50 per square foot, 601 square feet), $92 below Vox Condominiums at 28 Wellesley St E (0.07 km, 71 closed leases, $2,532 average rent, $5.05 per square foot, 515 square feet), and $344 below 50 at Wellesley Station at 50 Wellesley St E (0.08 km, 61 closed leases, $2,784 average rent, $4.32 per square foot, 655 square feet). Terrace Court at 19 Dundonald St (0.02 km, completed 1985) recorded only one closed lease over the trailing 180 days at an average of $4,000 per month ($3.28 per square foot, 1,220 square feet); with that single transaction, it serves as an architectural and amenity reference rather than a reliable realized-rent benchmark for the subject.

Totem Condominium leases at $4.42 per square foot across an average 565-square-foot suite, positioning it above the four-comparable average of $4.29 per square foot and the Cabbagetown submarket rate of $4.23 per square foot, while offering materially less interior space than the comp set's 748-square-foot average. Against 22 Condominiums (0.05 km), the subject trades at a $0.08 per square foot discount and provides 36 fewer interior square feet, so the $181-per-month rent gap is driven by a slightly smaller footprint rather than a weaker per-square-foot valuation. Versus Vox Condominiums (0.07 km), the subject offers a $0.63 per square foot discount while delivering 50 more interior square feet, meaning a renter at Totem gains additional living area at a lower monthly cost despite the higher nominal rate per square foot than the submarket. Against 50 at Wellesley Station (0.08 km), the subject commands a $0.10 per square foot premium but provides 90 fewer interior square feet, so the $344-per-month rent savings reflect the smaller suite rather than a discount in asset value. Terrace Court (0.02 km) recorded only one closed lease and cannot anchor a meaningful rate comparison; its 1,220-square-foot average unit at $3.28 per square foot represents a fundamentally different product tier.

Totem Condominium offers an eight-feature lifestyle package—Concierge & Security, Shared Laundry Room, Gym & Fitness Centre, Party & Lounge Room, Dining Room & Kitchen, BBQ Area, Rooftop Terrace, and Garden & Courtyard—that leans toward outdoor social space and communal dining rather than the wellness-and-entertainment suites found at several nearby peers. The subject's Garden & Courtyard and Rooftop Terrace are absent from Terrace Court (19 Dundonald St), 22 Condominiums (22 Wellesley St E), and Vox Condominiums (28 Wellesley St E), while its Shared Laundry Room is not offered at 22 Condominiums or Vox. Conversely, competitors carry features the subject lacks: Terrace Court and 50 at Wellesley Station both provide a Sauna & Steam Room, 22 Condominiums adds a Hot Tub & Jacuzzi, and Vox and 50 at Wellesley Station each include a Meeting Room, Media & Theatre Room, and Games & Billiards Room that Totem does not. The primary renter demographic best served by this package is the cost-conscious young professional or small household who prioritizes an outdoor terrace, communal dining space, and a low-maintenance courtyard over indoor pool, spa, or dedicated meeting facilities, and who values a compact, walkable Cabbagetown address with a verified $225-per-month parking premium.