93 Spadina Road, Toronto, ON
Annex, Toronto · MLS® C12873104
About this home
Immaculately cared for incredible turnkey residential investment in the heart of the Annex featuring 16 total units across two buildings (14 studios in the main building and a coach house with 2 one-bedroom units). Boasting a gross revenue of $263,160.04 and a potential NOI of $205,987.47. Private drive with 3 parking spots located literally one door over from the entrance to the Spadina TTC Subway Station and a 12-min walk to University of Toronto St. George campus. Extremely high rental demand area with pretty much zero vacancy. This is an investors dream property. Every time there is a vacancy there are so many applications you get to choose the best tenants. Rare opportunity in Toronto's most resilient neighborhood.
Key facts
- Property type
- Other, 3-Storey
- MLS®
- C12873104
- Bedrooms
- 2
- Bathrooms
- 16 (14 half)
- Size
- 5,000 sq ft
- Lot
- 32 × 130 ft
- Cross streets
- Spadina Rd & Bloor St W
- Parking
- 3 parking
- Basement
- Apartment
- Kitchens
- 16 (8 + 8)
- Heating
- Baseboard
- A/C
- Window Unit(s)
- Exterior
- Brick
- Foundation
- Brick
- Roof
- Asphalt Shingle
- Sewer
- Sewer
- Property tax
- $12,503 / 2025
- Days on market
- 132
- Listing brokerage
- RE/MAX ULTIMATE REALTY INC.
Listed at $4,399,900, this home is about 6% below comparable homes, worth a close look. The number above is my independent estimate of value, not the asking price.
In Annex lately, sellers have been getting about 97% of asking and homes sell in about 33 days.
There were not many closely comparable homes right in Annex, so I widened the search to the surrounding area.
Based on 77 similar homes that recently sold nearby, adjusted for size, beds, and baths.Median of 77 recently sold comparable homes — actual closing prices, not asks — adjusted for size, beds, and baths. The city (MPAC) assessment points to about $2.09M, lower than the comparables and worth a second look.
How I got there
Here is the exact math behind the estimate. I start from the closest comparable listing and adjust for the real differences (size, beds, baths) to land on a like-for-like value for this home.
- Closest comparable, sold for $1.10M
- Size difference +$2.90M
- Bedrooms −$30K
- Bathrooms +$210K
- Adjusts to $4.18M
That comparable adjusts to $4.18M; the $4.67M estimate above is the median of all 77 comparables, which is steadier than any single home.This estimate is grounded in actual closing prices from the last 15 months, not asking prices. Lot, condition, and finishes are still my in-person call.
Its public catchment (Jesse Ketchum Junior and Senior Public School) tests around the provincial average, a steady, family-friendly draw. The full EQAO breakdown is below.
Total price vs nearby homes. Fair value about $4.67M, median of 77 comparables.
This home lists 35% below the area average of $1,362/sqft.
On the market now.
View comparable listingsPrice per square foot vs the area average.
Neighbourhood & location
Annex, Toronto, ON
Enter a workplace or destination and we’ll show the door-to-door time by car, transit and bike.
How asking prices compare in the closest areas to this home. Longer bars mean a pricier market.
Typical asking price of active listings of the same type, per area (outliers removed). Toronto.
Get the full neighbourhood report (schools, parks, transit & safety) →
The public and Catholic schools this address is zoned for, with EQAO results (the share of students meeting Ontario's provincial standard).
School attendance boundaries and EQAO results are Ontario government data and can change. Confirm the current catchment with the school board before relying on it.
Affordability & Mortgage
Income needed assumes a ~32% GDS ratio; weekly is mortgage principal & interest only. Price ÷ income is the home price over the income needed. Fixed reference assumptions so listings compare on equal footing, not a lending decision.
Calculate and customize your mortgage and other expenses
Adjust the down payment, rate, and amortization, and add property tax, condo fees, and heating to see your true monthly cost.
Your numbers
Homes over $1.5M can't be insured, so 20% down or more is required.
Conventional (20%+ down). Best insured 5-year fixed 3.99% via Ratehub.ca (as of July 22, 2026); conventional rates run a little higher.
Mortgage amount $3,519,920 · 4.14% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $18,784
- Property tax
- $1,042
- Condo / maintenance fees
- $0
- Heating
- $0
- Estimated monthly cost
- $19,826
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $96,473
- Toronto municipal land transfer tax
- $114,471
- Estimated closing costs
- $210,943
Plus your down payment of $879,980. Legal fees, title insurance, and adjustments are extra and vary by deal.
Mortgage stress test
Lenders qualify you at the greater of your rate plus 2% or 5.25%. You do not pay this rate. It just shows you could still handle payments if rates rose, so aim to stay comfortable at this higher number.
Over the full 25 years
At the end of your 5-year term
- Total paid over the term
- $1,127,016
- Principal paid down
- $448,263
- Interest paid
- $678,753
- Balance remaining
- $3,071,657
Talk to Team Asgarian about your options
Rates and programs change often. We will connect you with a trusted mortgage professional and build a plan that fits your budget and goals.
Estimates only, not a mortgage quote or pre-approval. Figures use Canadian semi-annual compounding, current minimum down-payment rules, CMHC premium tiers, and Ontario (plus Toronto, when selected) land transfer tax. Actual rates, taxes, insurance, and closing costs vary by lender and property. Confirm every number with your mortgage professional.
Investor snapshot
Income potential: the basement has a separate entrance, which often supports a rentable in-law or second suite. That can lift real rent well above the figure above and help carry the mortgage. Ask us about permitted use in this area.
Thinking of this home as an investment? We will pull real comparable rents and run the full numbers with you.
Talk about the numbersEstimates only. Rent is modelled on above-grade size and local norms, so a finished basement or second suite (a separate entrance often means one) can push real rent well above this. Taxes, fees, and vacancy vary by property, and cap rate is before financing. A starting point, not a final number, let us run the real ones with you.
Helpful resources
All information deemed reliable but not guaranteed. For personal, non-commercial use only. Listing courtesy of RE/MAX ULTIMATE REALTY INC.. MLS®/PropTx.