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Property Type: Condo / ApartmentOwnership: Freehold / Condominium
6523 WELLINGTON 7 Road Unit# 416
Elora, ON N0B1S0
MLS® 40857694
$1,399,900
2 bed3.5 bath1 parking1,711 sqft
Amenities
Gym
Property Details
Property & Lot
- Sub-type
- Apartment
- Style
- Other
- Stories
- 1
- Frontage
- 0 feet
R6
Ownership & Fees
- Property type
- Condo / Apartment
- Ownership
- Freehold / Condominium
- Condo / maintenance fee
- $913/mo
- Annual property tax
- $8,728
Maintenance Fee Includes
Also included: Landscaping, Insurance, Parking
Interior
Room Dimensions
| Room | Level | Dimensions |
|---|---|---|
| 2pc Bathroom | Main level | — |
| 3pc Bathroom | Main level | — |
| 5pc Ensuite bath | Main level | — |
| Foyer | Main level | 6'2'' x 13'6'' |
| Bedroom | Main level | 11'2'' x 12'2'' |
| Primary Bedroom | Main level | 11'6'' x 17'5'' |
| Dinette | Main level | 6'6'' x 8'0'' |
| Living room | Main level | 14'2'' x 19'4'' |
| Kitchen | Main level | 19'3'' x 20'1'' |
Description
Welcome home to the prestigious, newly built Elora Mill Residences. The stunning and spacious Observatory Suite (1711 sq. ft. as per builder) features two bedrooms, 3 bathrooms and a private outdoor 387 sq. ft. terrace, as well as an open concept layout which is ideal for hosting family and friends. The heart of the home is a chef-inspired kitchen complete with a thoughtfully designed island, gorgeous premium finishes, built-in pantry drawer, built-in modern appliances including induction cooktop, stove, dishwasher and integrated refrigerator, as well as quartz countertops, backsplash, Watts 4 stage water filtering system and waterfall island. Tucked away is a serene, primary suite with a spa-like ensuite and double walk-in closet. A second bedroom offers privacy for guests or family. Solid wood, custom doors and trim, hardware and motorized blinds elevate the space throughout. Wake up to an abundance of natural light from either bedroom, with sliding glass doors extending your living space outdoors to the amazing terrace. Enjoy your morning coffee, dine alfresco, or simply take in the fresh air on the terraces, with stunning views of the Elora Mill and surroundings.Convenient in-suite, full-sized laundry room offers extra storage. Premium amenities abound in this luxurious residence, and include a concierge, beautiful and impressive lobby with lounge area and coffee bar, pool with magnificent river views, courtyard oasis with curated gardens, state of the art fitness centre, yoga studio, party room, locker and underground parking with Electric Charger. The condo fees include internet service.Located just steps from Elora's historic and charming downtown, you'll find gourmet restaturants, quaint artisan shops and cafes to explore. Looking for unrivalled, refined living, surrounded by the natural beauty of one of Ontario's prettiest towns? You have found it! Don't miss this exceptional and exclusive opportunity - book your private showing today (id:63159)
Listing Information
- MLS®
- 40857694
- Data last synced
- September 22, 2026
Royal LePage Wolle Realty
Data source: CREA DDF.
CREA DDF® ListingListing Brokerage: Royal LePage Wolle Realty
MLS® Number: 40857694
Listing data is sourced from CREA DDF®, the Canadian Real Estate Association (CREA) Data Distribution Facility. Listing information is deemed reliable but is not guaranteed accurate by CREA or the listing brokerage. Data provided courtesy of Cornerstone Association of REALTORS®.
Values & Trends
This listing
$818/sqft
Building average
—
No other active listings in this building
54 - Elora/Salem average
$775/sqft
4 active listing(s)
Parking: 1 stall(s) includedStorage locker: Not indicated
Per-stall/locker dollar values aren't itemized in our data source — shown as included/not indicated only, not a fabricated estimate. $/sqft averages are computed live from other active listings, not a third-party model.
Location Insights
Weather
Nearest station: Guelph
5°C
—
Humidity 95%
Wind NNE calm km/h
Tonight
6°
Thursday
19°
Thursday night
6°
Friday
12°
Friday night
-2°
Saturday
14°
Source: Environment and Climate Change Canada.
Nearby Places
Restaurants (5+)
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Mortgage & Ownership Cost Calculator
Minimum required: 8.2% ($114,990) — 5% under $500K, 10% up to $1.5M, 20% at/above $1.5M.
Financial Ledger
Net mortgage (loan + CMHC insurance)$1,119,920.00
Periodic payment — Principal & Interest (monthly)$7,225.34
Additional monthly expenses (condo fees, tax, utilities, etc.)$1,726.21
Total monthly cost$8,951.56
Interest paid over 5-yr term$320,972.29
Balance at end of term$1,007,371.66
Rates based on Bank of Canada benchmark data.
Financial Summary
Minimum down payment$114,990
Stress test qualifying rate8.19%
Payment you must qualify for$9,962.86
Cash Needed at Closing
Minimum down payment$114,990
Estimated Land Transfer Tax (LTT)$24,473
Legal / closing costs (typical estimate)$1,500
Total cash needed$140,963
Minimum down payment: 5% on the first $500,000, 10% on the portion up to $1.5M, 20% at/above $1.5M. Stress test: OSFI's minimum qualifying rate, the greater of contract rate + 2% or 5.25% — this is what lenders require you to qualify at, not what you'll actually pay. Closing costs are a typical-range estimate, not a quote — actual legal fees vary. Land Transfer Tax is the Ontario provincial schedule, before any first-time buyer refund; only the City of Toronto charges a municipal land transfer tax on top, so none applies in the areas this site covers (Ontario Ministry of Finance, ontario.ca/document/land-transfer-tax, as of October 28, 2026). Verify all figures with a mortgage broker and lawyer before relying on them.