229 Manor Road, Toronto, ON
Mount Pleasant East, Toronto · MLS® C12988972
About this home
Welcome to 229 & 229R Manor Rd E - a rare, income-generating gem in the heart of Davisville Village. Experience two homes offering over 5,000 sq ft of beautifully designed living space on one exceptional lot. The main house is a impeccably updated, detached home with three fully legal spacious, executive-level suites - each approximately 1,100 sq ft - including two 2-bedroom units, a large 3-bedroom lower suite, and masterfully landscaped outdoor spaces. All are separately metered, with upgraded systems throughout, including full rewiring, and an underpinned basement with over 8 foot ceiling height. Tucked just behind, discover a show-stopping 1,700 sq ft 2-bedroom detached laneway home with over 900 sq ft of sun-filled, contemporary living space perched above a 3-car garage with heated flooring and an EV rough-in. Lovingly re-developed with permits and maintained by experienced developers this turnkey property was crafted with long-term comfort, durability, and design in mind. It's ideal for savvy investors, multi-generational families, co-ownership buyers, or downsizers looking to convert their home equity into a vibrant lifestyle and strong monthly income. Approx $178K Gross/$150K Net Rent Potential - a 5% Cap rate! All of this, just steps to Mount Pleasant's Michelin Mile, the future Eglinton LRT, June Rowlands Park, top-rated schools, boutique shops, cafes, and more. This is a rare opportunity to own two incredible homes on one extraordinary lot - come see it before it's gone!
Key facts
- Property type
- Other, 2-Storey
- MLS®
- C12988972
- Bedrooms
- 9 (6 + 3)
- Bathrooms
- 5
- Size
- 3500-5000
- Lot
- 32 × 125 ft
- Cross streets
- Mt Pleasant Rd & Eglinton Ave E
- Parking
- 3 garage (detached)
- Driveway
- None
- Basement
- Apartment, Separate Entrance
- Kitchens
- 4 (3 + 1)
- Heating
- Radiant
- A/C
- Wall Unit(s)
- Exterior
- Brick
- Foundation
- Brick, Concrete
- Roof
- Asphalt Shingle
- Sewer
- Sewer
- Property tax
- $15,195 / 2025
- Days on market
- 101
- Listing brokerage
- KELLER WILLIAMS PORTFOLIO REALTY
Rooms
ceramic floor · window · 3 pc bath
skylight · quartz counter · hardwood floor
large window · hardwood floor · fireplace
skylight · hardwood floor · large window
hardwood floor · combined w/dining · large window
large window · fireplace · combined w/living
window · pot lights · combined w/kitchen
ceramic floor · window · 3 pc bath
window · closet · hardwood floor
large window · hardwood floor · overlooks living
window · closet · hardwood floor
quartz counter · stainless steel appl · b/i dishwasher
window · pot lights · vinyl floor
window · pot lights · vinyl floor
quartz counter · stainless steel appl · combined w/living
large window · hardwood floor · closet
double sink · heated floor · 3 pc bath
hardwood floor · window · closet
ceramic floor · pot lights · 3 pc bath
hardwood floor · window · closet
large window · hardwood floor · large closet
quartz counter · stainless steel appl · overlooks living
ceramic floor · pot lights · 3 pc bath
window · pot lights · vinyl floor
Listed at $2,999,800, this home is about 32% below comparable homes, worth a close look. The number above is my independent estimate of value, not the asking price.
In Mount Pleasant East lately, sellers have been getting about 96% of asking and homes sell in about 24 days.
The listing states size as a wide range, so the size adjustment is approximate and this estimate is a rough read. I can confirm exact square footage to tighten it.
There were not many closely comparable homes right in Mount Pleasant East, so I widened the search to the surrounding area.
Based on 5 similar homes that recently sold nearby, adjusted for size, beds, and baths.Median of 5 recently sold comparable homes — actual closing prices, not asks — adjusted for size, beds, and baths. The city (MPAC) assessment points to about $2.64M, lower than the comparables and worth a second look. The listing gives square footage as a wide range, so the size adjustment (and this estimate) is approximate; confirming exact size would sharpen it.
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 $2.13M
- Bedrooms +$30K
- Bathrooms +$60K
- Garage +$25K
- Adjusts to $2.24M
That comparable adjusts to $2.24M; the $4.43M estimate above is the median of all 5 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 (Northern Secondary 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 $4.43M, median of 5 comparables.
What the listing highlightsThese are claims from the listing. The only way to know for sure is to see it in person, and I am happy to book you a private showing.
- Heated floors: comfort and a premium-finish signal. Lifestyle
- Garden / laneway suite potential: extra-unit upside, but confirm zoning and feasibility with the city. Worth verifying
The closest active listings by size, beds, and price, so you can see what this home is up against.
The 1 closest active listing nearby.
See all comparable homesThis home lists 39% below the area average of $1,158/sqft.
On the market now.
View comparable listingsPrice per square foot vs the area average.
Neighbourhood & location
Mount Pleasant East, 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 23, 2026); conventional rates run a little higher.
Mortgage amount $2,399,840 · 4.14% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $12,806
- Property tax
- $1,266
- Condo / maintenance fees
- $0
- Heating
- $0
- Estimated monthly cost
- $14,073
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $61,470
- Toronto municipal land transfer tax
- $61,470
- Estimated closing costs
- $122,940
Plus your down payment of $599,960. 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
- $768,386
- Principal paid down
- $305,620
- Interest paid
- $462,766
- Balance remaining
- $2,094,220
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 KELLER WILLIAMS PORTFOLIO REALTY. MLS®/PropTx.