Papillon Place II — Rental Market Data

Papillon Place II lists two active units as of August 31, 2026, spanning a price range of $1,300 to $2,900 per month with an average and median asking rent of $2,100 per month. The two suites average 948 square feet at a blended asking rate of $2.22 per square foot, and the inventory splits evenly between one one-bedroom and one two-bedroom unit, meaning neither tier offers a multi-unit selection. Because both listings sit at the single-transaction level, the current mix reflects individual deal pricing rather than a broad layout distribution, and the larger-than-average footprints (948 sq ft versus the submarket implied 740 sq ft) push nominal rents toward the upper end of entry-level pricing despite the lower per-square-foot rate.

The dominant active layout at Papillon Place II is the one-bedroom tier, holding one listing and a 50 percent share of available inventory, though the two-bedroom tier mirrors it at an identical single-unit count. The one-bedroom suite asks $1,300 per month for 950 square feet at $1.37 per square foot, while the two-bedroom unit lists at $2,900 per month for 945 square feet at $3.07 per square foot. Both tiers are single-listing samples, so neither provides a reliable median or range within its bedroom category, and prospective renters should treat each figure as an individual transaction rather than a market-clearing price.

Papillon Place II's two active listings span a $1,600 dollar spread from a $1,300 entry point to a $2,900 peak, representing a 123.1 percent range between the lowest and highest asking rents. The median asking rent of $2,100 per month sits at the midpoint of that spread, and the entry-level one-bedroom suite at 950 square feet carries a rate of $1.37 per square foot, while the peak two-bedroom unit at 945 square feet commands $3.07 per square foot. The wide percentage spread is driven by the single-unit-per-tier structure rather than a deep inventory gradient, so the dollar gap reflects two distinct product types rather than a continuum of pricing within one layout.

Papillon Place II does not have a quantified den premium or square-footage delta for its two active listings, as neither unit carries a recorded den configuration that would allow a marginal-cost calculation. Parking stall costs likewise cannot be reliably isolated from the available data, and no verified monthly parking fee should be attributed to either suite. Renters interested in either amenity should request itemized add-on pricing directly from the leasing office, as the current sample does not support a defensible premium estimate.

Papillon Place II's average asking rent of $2,100 per month at $2.22 per square foot sits below the Mississauga West submarket asking benchmark of $2,685 per month at $3.63 per square foot, a 38.8 percent discount on the per-square-foot rate. The lower nominal rent is not a sign of compact suites; in fact, the active listings average 948 square feet, which is 208 square feet larger than the submarket implied average of 740 square feet, so the building's pricing advantage is rate-driven rather than size-driven. Papillon Place II accounts for two out of 47 available listings in the Mississauga West submarket, a 4.3 percent share of current inventory.

Papillon Place II's all-time average realized lease rent of $2,633 per month sits $81 above the four-comp blended benchmark of $2,552, with the spread driven by larger suite footprints rather than a higher per-square-foot rate. Papillon Place III (4850 Glen Erin Dr, 0.06 km, 8 closed leases) averaged $2,500 per month at $3.43 per square foot across 731 square feet; Papillon Place I (4879 Kimbermount Ave, 0.08 km, 3 closed leases) averaged $2,467 per month at $3.33 per square foot across 750 square feet; Miracle in Mississauga (4900 Glen Erin Dr, 0.14 km, 6 closed leases) averaged $2,508 per month at $3.25 per square foot across 774 square feet; and Downtown Erin Mills (4633 Glen Erin Dr, 0.27 km, 15 closed leases) averaged $2,732 per month at $3.42 per square foot across 800 square feet. Against the three older or mid-generation peers, Papillon Place II commands a higher monthly rent—$133 above Papillon Place III, $166 above Papillon Place I, and $125 above Miracle in Mississauga—while trading $99 below the newer Downtown Erin Mills.

Papillon Place II leases at $3.13 per square foot across an average 850-square-foot suite, placing it at a discount to the four-comp blended rate of $3.36 per square foot while offering 86 more square feet than the comp average of 764. Against Papillon Place III, the subject trades at a $0.30 per square foot (8.7%) discount while providing 119 more interior square feet; against Papillon Place I, the discount widens to $0.20 per square foot (6.0%) with 100 additional square feet; against Miracle in Mississauga, the gap narrows to $0.12 per square foot (3.7%) with 76 more square feet; and against Downtown Erin Mills, the subject offers a $0.29 per square foot (8.5%) discount with 50 more square feet. In every active comparison, the higher nominal monthly rent at Papillon Place II relative to the three older peers is a direct function of its larger interior footprint, not a per-square-foot rate premium, while the single exception—Downtown Erin Mills' $99 higher rent—reflects that building's 2018 construction and slightly smaller 800-square-foot suites.

Papillon Place II fields a 14-amenity lifestyle package that includes an EV charging station, yoga studio, and dedicated dining room and kitchen—features absent from at least one named competitor in the immediate cluster. Papillon Place III (4850 Glen Erin Dr) matches most of the subject's offerings but lacks the EV charging station, while adding a media and theatre room the subject does not carry; Papillon Place I (4879 Kimbermount Ave) mirrors the subject's EV charging and pool suite but omits the yoga studio in favour of its own media and theatre room; Miracle in Mississauga (4900 Glen Erin Dr) drops the hot tub and jacuzzi, dining room, and EV charging station that define the subject's wellness and convenience profile; and Downtown Erin Mills (4633 Glen Erin Dr) forgoes the yoga studio, golf simulator, hot tub, and dining room in exchange for an outdoor garden courtyard and children's playground. The subject's combination of aquatic wellness (indoor pool, hot tub, sauna), active recreation (gym, yoga, golf simulator), and social infrastructure (dining room, party lounge, rooftop terrace) best serves the 30-to-50 professional renter who prioritizes a full-service residential experience over a compact, amenity-light unit.