Garden District Condos — Rental Market Data

Garden District Condos at 47 Mutual Street has three active rental listings as of August 31, 2026, with asking rents ranging from $2,050 to $2,850 per month, an average of $2,367, and a median of $2,200. The average active suite measures 562 square feet at an asking rate of $4.20 per square foot. Two of the three listings are one-bedroom units (66.7 percent of active inventory), meaning current availability leans toward compact entry-level suites rather than multi-bedroom executive layouts.

The dominant active layout at Garden District Condos is the one-bedroom, with two units representing 66.7 percent of available inventory at an average asking rent of $2,125 per month across 518 square feet and a rate of $4.11 per square foot. The single two-bedroom listing (33.3 percent share) asks $2,850 per month for 650 square feet at $4.38 per square foot. With only one unit in the two-bedroom tier, renters seeking multi-bedroom space face a single-listing constraint at this building.

Garden District Condos offers an active asking spread of $800 per month (39 percent), from a minimum entry rent of $2,050 to a peak asking rent of $2,850. The median asking rent sits at $2,200 per month. The entry-level suite is a one-bedroom measuring 485 square feet at $4.23 per square foot, while the peak listing is a two-bedroom at 650 square feet and $4.38 per square foot.

Den premium data for Garden District Condos cannot be reliably quantified from the current active sample, as no paired den versus non-den listings exist to isolate a marginal cost per square foot. Active parking stall premiums are likewise unquantifiable; the available data contains anomalous outliers or an insufficient paired sample, so no specific monthly parking figure can be cited with confidence.

Garden District Condos asks an average of $2,367 per month at $4.20 per square foot, compared to the Downtown East submarket asking benchmark of $2,636 per month and $4.36 per square foot. The building's nominal rent is lower than the submarket average, but this gap is explained by the more compact 562-square-foot active suite size versus the broader submarket mix; on a per-square-foot basis, the building prices 3.7 percent below the neighbourhood asking rate. Garden District Condos accounts for 3 out of 192 available listings in the Downtown East submarket, representing roughly 1.6 percent of total active inventory.

Garden District Condos' average realized lease rent of $2,842 per month sits $554 above the four-building comp benchmark of $2,288, with both active competitors—88 North and Core Condominiums—realizing lower monthly rents than the subject. 88 North at 77 Shuter Street (0.04 km, 54 closed leases) averaged $2,372 per month at $4.28 per square foot across 564 square feet, meaning the subject commands a rent $470 higher than this peer. Core Condominiums at 68 Shuter Street (0.09 km, 16 closed leases) averaged $2,203 per month at $4.08 per square foot across 548 square feet, placing the subject's realized rent $639 above that competitor. 76 Shuter at 76 Shuter Street (0.07 km) and The Ledbury at 30 Mutual Street (0.08 km) each recorded zero closed leases over the trailing 180 days and therefore carry no realized rent benchmark against which to compare the subject.

Garden District Condos leases at $3.88 per square foot across an average 738-square-foot suite, trading at a discount below both active competitors on a per-square-foot basis while providing substantially more interior space than either. Against 88 North ($4.28 per square foot, 564 square feet), the subject offers a $0.40-per-square-foot (9.3%) discount and delivers 174 more interior square feet; against Core Condominiums ($4.08 per square foot, 548 square feet), the subject provides a $0.20-per-square-foot (4.9%) discount and 190 additional square feet. The higher nominal monthly rent at the subject is therefore driven by its larger interior footprint rather than a per-unit valuation premium—renters pay more in absolute dollars because they are leasing roughly 180 to 190 square feet of additional living area, not because the building commands a rate advantage over its neighbours.

Garden District Condos offers a 12-feature lifestyle package that includes a yoga studio, indoor kids' play room, garden and courtyard, pet wash station, and dedicated meeting room—several of which are absent from its closest active competitors. Against 88 North, the subject adds a yoga studio, garden and courtyard, indoor kids' play room, pet wash station, and meeting room, while 88 North counters with an outdoor pool and cabanas that the subject does not provide. Core Condominiums includes a media and theatre room and on-site café that the subject lacks, but the subject's yoga studio, garden and courtyard, indoor kids' play room, pet wash station, and meeting room have no direct equivalent in Core's amenity list. The zero-transaction reference buildings—76 Shuter (sauna, massage room, business centre) and The Ledbury (outdoor pool, basketball court, on-site childcare, virtual health clinic)—offer wellness and family-oriented features the subject does not match, though the subject's combination of a dedicated yoga studio, indoor children's play space, pet wash station, and garden courtyard positions it squarely for young professional families and pet-owning tenants who prioritize a balanced mix of fitness, social gathering, and outdoor green space over resort-style aquatic or childcare programming.