53 Palmerston Avenue, Toronto, ON
Trinity-Bellwoods, Toronto · MLS® C12990402
About this home
In short
- Discover an extraordinary architectural residence on Palmerston Avenue, one of Trinity Bellwoods' most sought-after streets.
- With history dating back to the 1860s, the home has gone through an extensive transformation, including a remarkable custom addition crafted by Whitaker Construction...
- The main living space showcases striking 20-foot ceilings anchored by a sprawling sunken lounge, designed with a clean aesthetic that blends warmth with modern design.
- A beautifully designed mezzanine level, part of the custom addition overlooks the main living space and features a serene library with arched custom shelving...
- This thoughtfully planned 3-bedroom residence includes an entire third level dedicated to the primary retreat, featuring a spa-like ensuite that extends to an...
Discover an extraordinary architectural residence on Palmerston Avenue, one of Trinity Bellwoods' most sought-after streets. With history dating back to the 1860s, the home has gone through an extensive transformation, including a remarkable custom addition crafted by Whitaker Construction, a firm widely regarded as one of the city's leading builders, elevating it into a true design landmark. Featured in the Toronto Star in an article titled "Is this the coolest living room in Toronto?" the answer is, yes. The main living space showcases striking 20-foot ceilings anchored by a sprawling sunken lounge, designed with a clean aesthetic that blends warmth with modern design. With east and west exposure, the combination of floor-to-ceiling glass and two large skylights allows natural light to pour through the entire home. The property features meticulous millwork in natural oak, micro-cement walls, heated concrete floors, and recessed lighting that together create a sense of calm sophistication. A beautifully designed mezzanine level, part of the custom addition overlooks the main living space and features a serene library with arched custom shelving, creating an inspiring, light-filled vantage point with views of the city skyline. This thoughtfully planned 3-bedroom residence includes an entire third level dedicated to the primary retreat, featuring a spa-like ensuite that extends to an expansive private rooftop terrace, partially covered and perfectly positioned for Toronto skyline and CN Tower views. An oversized double-sided 1.5 car garage provides exceptional functionality, accommodating two smaller vehicles or offering ample additional space. The lower level includes a washroom and a dedicated area ideal for storage. Celebrating craftsmanship and innovation at every turn, every element has been curated with exceptional intention, resulting in a home that is both artful and livable, an inspired piece of architecture rarely found in the city.
Key facts
- Property type
- Detached, 3-Storey
- MLS®
- C12990402
- Bedrooms
- 3
- Bathrooms
- 4 (2 half)
- Size
- 2500-3000 sq ft
- Lot
- 18.17 × 135 ft
- Cross streets
- QUEEN ST W & BATHURST
- Parking
- 1.5 garage · 2 parking (detached)
- Driveway
- None
- Basement
- Finished
- Heating
- Radiant
- A/C
- Wall Unit(s)
- Exterior
- Brick
- Foundation
- Concrete
- Roof
- Flat
- Sewer
- Sewer
- Property tax
- $13,708 / 2025
- Days on market
- 151
- Listing brokerage
- PSR
Rooms
hardwood floor · open concept
hardwood floor · closet organizers · bay window
hardwood floor · overlooks living · overlooks backyard
hardwood floor · open concept
2 Pc Bath
hardwood floor · closet organizers
modern kitchen · b/i appliances · centre island
open concept · heated floor · recessed lighting
5 pc ensuite · closet organizers · w/o to terrace
hardwood floor · overlooks living · open concept
Listed at $3,895,000 with no offer date, so the ask is the seller’s number, and homes priced this way sell close to it. My read is $3.65M, typically $3.01M to $4.98M. Comparable listings on their own put this home around $3.08M, so the ask carries a premium over the comparables: the seller is pricing in the finishes, the lot, or room to negotiate. That gap is your negotiating room.
A price cut is the likelier next move. 151 days on the market, and asking 7% above where comparable closings put it. That is leverage for a buyer: offer with it in mind rather than waiting for the cut, since a reduction brings new eyes with it.
Second read, from the city assessment: $4.37M. That is about 42% above the comparable-sales figure. When my two methods disagree this much, the answer usually sits between them and something about this home is not in the comparables (the lot, the condition, a rebuild). I would want to see it before leaning on either number.
Total price vs nearby homes. Fair value about $3.65M, median of 6 comparables.
The market behind the math:
About 8.3 months of inventory: 11 detached homes for sale in the area against 4 closings in the last 90 days. Under two months favours sellers, over four favours buyers.
Price per square foot: this home lists at $1,416/sqft against an area asking average of $1,274/sqft. Size and $/sqft both feed the estimate above.
How this estimate is builtthe short version
I take the 6 most comparable recent listings nearby and adjust each one to this home for the real differences (size, beds, baths, garage, lot frontage, a ravine backing, an inground pool), then use the median, which is steadier than leaning on any single listing.
It’s grounded in comparable active listings. Lot, condition, and finishes are my in-person call, and the city (MPAC) assessment points to about $4.37M, a bit higher.
What the listing highlights3 points to weigh
Claims from the listing, worth confirming in person. I can book you a private showing.
- Addition / added square footage: more space lifts value when it is permitted and well integrated, verify the permits. Value driver
- Tall ceilings: they transform how a home feels, worth confirming the actual heights room to room. Worth verifying
- Primary suite: a key comfort and resale feature. Lifestyle
Schools & getting aroundcatchment and transit
The assigned public school is Charles G Fraser Junior Public School. EQAO is only one input, and families here also look at French Immersion, boundary, and private options, the full breakdown is below.
Read this with carewhy it’s an estimate, not an appraisal
There are only a few closely comparable homes right here, so this is a broad read from wider listings in the area. Ask me for a precise CMA before relying on it.
Based on 6 comparable homes nearby.
Nothing closely matching this home is listed nearby right now, so these are the nearest detached listings on the market.
Per square foot, these ask about $1,104/sqft; this home lists at $1,416/sqft. Size is part of the price story, not just the sticker.
The 3 closest active listings nearby.
See all comparable homesNeighbourhood & location
Trinity-Bellwoods, 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.
Also nearby: 12 more schools within 2.5 km
Not the assigned catchment: schools a family here could reach, with EQAO results where published.
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 4.09% via Ratehub.ca (as of September 11, 2026); conventional rates run a little higher.
Mortgage amount $3,116,000 · 4.24% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $16,799
- Property tax
- $1,142
- Condo / maintenance fees
- $0
- Heating
- $0
- Estimated monthly cost
- $17,941
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $83,850
- Toronto municipal land transfer tax
- $92,800
- Estimated closing costs
- $176,650
Plus your down payment of $779,000. 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
- $1,007,922
- Principal paid down
- $392,173
- Interest paid
- $615,750
- Balance remaining
- $2,723,827
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
Thinking of this home as an investment? We will pull real comparable rents and run the full numbers with you.
Talk about the numbersThe last 17 whole-home leases in Trinity-Bellwoods signed at a median of $3,431 a month; adjusted to this home for size, beds and baths, and for where rents stood the month each signed, that is $4,982. The gross yield above is on the asking price, before taxes and upkeep; the cap rate is after them. A finished basement or second suite can push real rent above it. Taxes, fees, and vacancy vary by property, and cap rate is before financing.
Helpful resources
All information deemed reliable but not guaranteed. For personal, non-commercial use only. Listing courtesy of PSR. MLS®/PropTx.