18 Shorncliffe Avenue, Toronto, ON
Casa Loma, Toronto · MLS® C13144390
About this home
Rare opportunity in Forest Hill South to own a substantial residence offering both exceptional living space and income-generating flexibility. Situated on a quiet residential street just steps to Forest Hill Village, this property provides a unique blend of lifestyle and long-term value.Currently configured as a legal five-unit residence and fully tenanted, the property offers strong in-place income together with exceptional future flexibility. The main residence offers a house-like experience with generous principal rooms, multiple bedrooms, and direct access to a private landscaped backyard. Thoughtfully laid out, it is ideal for those seeking space, privacy, and the character of a classic Forest Hill home.Several units have been recently renovated, contributing to strong in-place income and overall quality throughout the property. In addition to the principal residence, the property includes several self-contained suites, providing the opportunity to generate supplementary income or accommodate a variety of ownership objectives.The property has also undergone extensive capital improvements to mechanical systems, including comprehensive rewiring, copper plumbing upgrades, replacement windows, and numerous custom finish details throughout the main and lower levels.Ideally located near top-ranked schools, parks, transit, and the shops and restaurants of Forest Hill Village. Property is currently fully tenanted and generating rental income. Some images may be virtually staged.
Key facts
- Property type
- Other, 3-Storey
- MLS®
- C13144390
- Bedrooms
- 7 (6 + 1)
- Bathrooms
- 6 (1 half)
- Size
- 3500-5000
- Lot
- 45 × 79.5 ft
- Cross streets
- Spadina & St Clair
- Parking
- 1 garage · 3 parking (attached)
- Driveway
- Private
- Basement
- Apartment, Finished with Walk-Out, Separate Entrance, Full, Walk-Out, Finished
- Kitchens
- 5 (4 + 1)
- Heating
- Radiant
- A/C
- Wall Unit(s)
- Exterior
- Brick
- Foundation
- Stone
- Roof
- Flat, Shingles
- Sewer
- Sewer
- Property tax
- $9,100 / 2026
- Days on market
- 64
- Listing brokerage
- ROYAL LEPAGE REAL ESTATE SERVICES LTD.
Rooms
Large Closet
Hardwood Floor
fireplace · bay window · hardwood floor
Hardwood Floor
Stone Counters
hardwood floor · w/o to deck
Hardwood Floor
hardwood floor · ensuite bath · stone counters
4 pc bath · stone counters
Large Window
Listed at $3,750,000, this home is about 27% below comparable homes, worth a close look. The number above is my independent estimate of value, not the asking price.
In Casa Loma lately, sellers have been getting about 95% of asking and homes sell in about 38 days.
There were not many closely comparable homes right in Casa Loma, so I widened the search to the surrounding area.
Based on 32 similar homes that recently sold nearby, adjusted for size, beds, and baths.Median of 32 recently sold comparable homes — actual closing prices, not asks — adjusted for size, beds, and baths. The city (MPAC) assessment points to about $1.94M, 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 $3.52M
- Bedrooms +$60K
- Bathrooms +$30K
- Adjusts to $3.60M
That comparable adjusts to $3.60M; the $5.15M estimate above is the median of all 32 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 (Brown Junior 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 $5.15M, median of 32 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.
- Renovated / rebuilt: recent work can mean fewer upfront costs, worth confirming the scope, quality, and that permits were pulled. Value driver
- Addition / added square footage: more space lifts value when it is permitted and well integrated, verify the permits. Value driver
- Currently tenanted: confirm the lease terms and vacant-possession timing before closing. Worth verifying
The closest active listings by size, beds, and price, so you can see what this home is up against.
The 5 closest active listings nearby.
See all comparable homesOn the market now.
View comparable listingsPrice per square foot vs the area average.
Neighbourhood & location
Casa Loma, 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 $3,000,000 · 4.14% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $16,009
- Property tax
- $758
- Condo / maintenance fees
- $0
- Heating
- $0
- Estimated monthly cost
- $16,767
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $80,225
- Toronto municipal land transfer tax
- $87,725
- Estimated closing costs
- $167,950
Plus your down payment of $750,000. 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
- $960,547
- Principal paid down
- $382,051
- Interest paid
- $578,496
- Balance remaining
- $2,617,949
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 ROYAL LEPAGE REAL ESTATE SERVICES LTD.. MLS®/PropTx.