50 Verne Crescent Townhouses: Three-Storey Malvern Homes, Low Fees

50 Verne Crescent is where I point families who want a real three-storey townhouse in Scarborough and a monthly fee that won’t keep them up at night. It is a 1980 complex of 71 homes on Verne Crescent and Malvern Street, just off Markham Road and Sheppard. The homes are older and the systems are basic, but the space and the fee are hard to match. I’m Jatin Dua, RE/MAX Quantum Realty.

A 1980 complex on two quiet streets

The complex spreads across two short residential streets, Verne Crescent and Malvern Street, rather than fronting a main road. That is a real advantage over townhouse complexes that face Markham Road or Sheppard directly, because the homes sit back from the traffic.

YCC-519 was registered in June 1980, so the corporation is more than 45 years old. Brick exteriors from this period age well, but roofs, windows, doors and paving have finite lives, and a complex of this age should be well into its second round of replacements. One recent listing mentioned a newer roof, which suggests some of that work has been done.

At 71 homes the corporation is mid-sized: big enough to spread costs, small enough that the board knows the complex well. Ask for the reserve fund study and the last few years of board minutes to see how it has handled its major projects.

Three storeys, vaulted ceilings and a fireplace

Condos.ca records one storey, but a recent listing here described a three-storey home, so use the listing and a visit rather than the database. That home had three bedrooms, all above ground, two bathrooms and roughly 1,200 to 1,399 square feet.

It also had a living room with a vaulted ceiling and a gas fireplace, an open-concept main floor and a renovated kitchen. A vaulted living room is a feature you rarely see in a townhouse at this price, and it makes the space feel larger than its square footage.

The basement in that home was unfinished, which gives you storage or room to add living space. Heating was electric baseboard, with no central air listed, so ask what each specific home has and whether the board allows heat pumps or ductless units. The home had two parking spaces.

If you are comparing several homes here, line up the same three things for each: the state of the kitchen and bathrooms, the heating and cooling, and whether the basement is finished. Those three explain most of the price difference between otherwise identical plans in a complex like this.

A fee that is low for the space

All three homes listed for sale when I checked carried a fee of about $401 a month. On a 1,200 to 1,399 square foot home that is roughly 29 to 33 cents a square foot, which is low for a Toronto condo of any kind.

Condos.ca does not publish what the fee covers. With electric baseboard heat in at least some homes, expect hydro, and possibly heat, to be on your own bill, and confirm everything in the status certificate. Ask for the corporation’s budget and the fee history over the past five years.

A low fee is good news only if the reserve fund keeps pace with the age of the complex. If it does not, the shortfall eventually shows up as a special assessment or a jump in fees. The reserve fund study will tell you which situation you are buying into.

Remember that the corporation’s insurance covers what the declaration defines as common elements, not your contents or upgrades. Ask your insurance broker for a unit-owner policy that matches what the declaration leaves to you, and check the deductible owners must cover after a claim.

Markham Road and Sheppard, day to day

The complex is a short walk from the plazas on Markham Road and Sheppard Avenue East, where you will find groceries, banks, takeout and places of worship. Highway 401 is a few minutes south, and the Toronto Zoo and Rouge National Urban Park are a short drive north and east.

The City of Toronto’s planned Eglinton East LRT would run from Kennedy Station to Malvern Town Centre via UTSC and connect to the future Line 2 terminus at Sheppard and McCowan. It is at the planning stage with no opening date, so treat it as long-term upside rather than a reason to pay more now.

Malvern Town Centre is the nearest larger mall. The data panel on this page shows the exact transit options and distances from the complex.

Being set back on Verne Crescent and Malvern Street rather than on Markham Road itself means less noise and safer streets for children, while still keeping the shops within an easy walk. That balance is one of the better things about this complex.

What homes are asking now

There were three homes for sale here when I checked, asking from $590,000 to $699,999, plus one for rent. On roughly 1,200 to 1,399 square feet, that is around $420 to $580 a square foot, depending on size and finish.

That spread is mostly about condition. A home with a renovated kitchen and bathrooms, a newer roof and a finished basement sits at the top; an original home sits at the bottom. Price in the cost of anything you plan to update before you compare.

Against the newer stacked townhomes at Markham Gates around the corner, Verne Crescent usually offers more space and a basement, while Markham Gates offers a 2013 building with central air and underground parking. The sold data in the panel above will show you how the two have actually traded.

Three homes on the market at once in a 71-home complex is a good level of choice, and it puts you in a reasonable position to negotiate, especially on the homes that still need work.

Building specifications

Amenities at 50 Verne Crescent Townhouses

There is no pool, gym or party room, which is a big part of why the fee is so low. What you get instead is a full townhouse with parking and a front door on a quiet street.

Jatin’s honest take on 50 Verne Crescent Townhouses

50 Verne Crescent Townhouses — frequently asked questions

Looking at Scarborough Bluffs, West Hill, Guildwood, Woburn, Malvern and Rouge more broadly? Start with my Toronto community guide — the neighbourhoods, what each pocket is like, and how they compare.