TEK Tower (30 Francis) | 45 fl | U/C

[CP42]

It is very difficult to be cash flow positive with a condo in the area. 
The exception being if you purchased several years ago (e.g. Charlie West sales in 2017-2018) and are just now beginning to pay your mortgage and collect rent which has significantly increased since the time of purchase.

Very difficult with a new-build condo. More doable with a somewhat older building. Even Garment St has a 700 sqft unit for sale for $420K. Much easier to rent a 700 sqft 1BR unit than a 400 sqft one.

So many people think that buying and renting out a condo is a guaranteed lottery ticket, though.

Exactly. Also worth considering that most will sell over the asking price. You can use an app like House Sigma to see actual sales prices. 

There is a 573 sqft 1-bed unit that sold in garment street 17 days ago. Listed for 400,000 and sold for 600,000. 

Also a 668 sqft 1-bed in garment street sold 9 days ago - listed for 499,000 and sold for 630,500.

And finally a 631 sqft 1-bed in garment street that sold 2 days ago - listed for 449,000 and sold for 621,000 (without even a parking spot)…