188 Alfred Avenue, Toronto, ON
Willowdale East, Toronto · MLS® C13153610
About this home
In short
- A MUST-SEE PROPERTY Spectacular Luxury Custom-built Masterpiece Family Home.
- On a Prime 50 ft in Famous Willowdale East 5 Brooms with 5 Ensuites, Luxury Foyer with 20 ft Ceiling, Hardwood floors, Spectacular Kitchen with Breakfast Area...
- Two laundry Rooms , one second floor and one in the basement.radiant heating all first and bsmt floors.electrical heating floor in Master Ensuite.
- 2 bedrooms in basement--full size kitchen with rough-in in basement--10' ceiling bsmt.
***A MUST-SEE PROPERTY*** Spectacular Luxury Custom-built Masterpiece Family Home. Only 4 years Old. On a Prime 50 ft in Famous Willowdale East* 5 Brooms with 5 Ensuites, Luxury Foyer with 20 ft Ceiling, Hardwood floors, Spectacular Kitchen with Breakfast Area, Central Island, Granite Counter tops & Back splash, Stainless Steel Appliances, Pantry room with Dishwasher & Sink, Walk out to Concrete Deck with a Nine ft Ceiling Storage Under. Former Family Room with Fireplace, Elegant dining and Living Rooms.Two laundry Rooms , one second floor and one in the basement.radiant heating all first and bsmt floors.electrical heating floor in Master Ensuite. Central vacuum--additional retractable vacuum under kitchen sink.Two furnaces and two air conditioners. Speakers at the all first main floor ceiling and basement.Water sprinkler system. 2 bedrooms in basement--full size kitchen with rough-in in basement--10' ceiling bsmt. Fully landscaped back yard with mature trees*
Key facts
- Property type
- Detached, 2-Storey
- MLS®
- C13153610
- Bedrooms
- 5+2 (7 total)
- Bathrooms
- 7 (1 half)
- Size
- 3500-5000 sq ft
- Lot
- 50 × 113.75 ft
- Cross streets
- Sheppard and Yonge
- Parking
- 2 garage · 4 parking (built-in)
- Basement
- Finished with Walk-Out
- Kitchens
- 2 (1 + 1)
- Heating
- Forced Air
- A/C
- Central Air
- Exterior
- Brick, Stone
- Foundation
- Concrete
- Roof
- Asphalt Shingle
- Sewer
- Sewer
- Property tax
- $19,098 / 2025
- Days on market
- 113
- Listing brokerage
- ARCREALTY INC.
Rooms
porcelain floor · 4 pc bath
porcelain floor · double closet
porcelain floor · walk-out · above grade window
hardwood floor · 4 pc ensuite · closet
porcelain floor · centre island · stainless steel appl
hardwood floor · formal rm · closed fireplace
porcelain floor · walk through
hardwood floor · open concept · combined w/living
hardwood floor · 4 pc ensuite · closet
Porcelain Floor
porcelain floor · breakfast area
hardwood floor · 4 pc ensuite · closet
W/O To Deck
hardwood floor · open concept · combined w/dining
porcelain floor · 4 pc bath
hardwood floor · 7 pc ensuite · walk-in closet(s)
Listed at $4,200,000. My estimate lands at $2.82M, so the ask sits about 49% above what comparable sales suggest. A gap that wide can point to premium finishes, a bigger lot, or simply an ambitious ask, so it is worth a close look at what justifies it before you offer. Treat the figure as a starting point: tell me you are interested and I will pull the most comparable recent sales and give you a straight answer on what it will really take.
A price cut is the likelier next move. 113 days on the market against about 37 for homes like it here, and asking 49% 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: $3.07M. Similar homes sold in line with their assessments, and this one lands close to the comparable-sales figure, which is what a firm read looks like.
Total price vs nearby homes. Fair value about $2.82M, median of 59 comparables.
The market behind the math:
About 1.1 months of inventory: 14 detached homes for sale in the area against 37 closings in the last 90 days. Under two months favours sellers, over four favours buyers.
Price per square foot: this home lists at $988/sqft against an area asking average of $756/sqft. Size and $/sqft both feed the estimate above.
- Walk-out basement apartment features. A finished 2 bed walk-out basement apartment with a second kitchen. A self-contained space for extended family, guests or potential income. Basements do rent in Willowdale East: 32 of the 231 detached leases here lately were basement units, around $2,150 a month. That makes the suite real income, and comparable-sales math under-prices it, so read the estimate as a floor. Second-suite retrofit status is not verified. A buyer intending to rent should confirm requirements with the City of Toronto.
How this estimate is builtthe short version
I take the 59 most comparable recent sales 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 sale.
It’s grounded in recent closing prices, not asking prices. Lot, condition, and finishes are my in-person call, and the city (MPAC) assessment points to about $3.07M, a close match.
What the listing highlights4 points to weigh
Claims from the listing, worth confirming in person. I can book you a private showing.
- Heated floors: comfort and a premium-finish signal. Lifestyle
- 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
- Hardwood floors: quality hardwood is durable and broadly desirable. Lifestyle
Schools & getting aroundcatchment and transit
On schools, this address is zoned for Hollywood Public School, one of the higher-rated public schools in the area. A strong catchment tends to hold value and widen your resale pool, especially with family buyers.
Read this with carewhy it’s an estimate, not an appraisal
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.
Based on 59 comparable homes that sold in Willowdale East over the past two years, from 214 closings there.
For sale
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For saleNothing closely matching this home is listed nearby right now, so these are the nearest detached listings on the market. Homes like this one have recently closed around $2.82M, which is where my estimate comes from.
Per square foot, these ask about $765/sqft; this home lists at $988/sqft. Size is part of the price story, not just the sticker.
The 5 closest of 8 active listings nearby.
See all comparable homesNeighbourhood & location
Willowdale 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.
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 $3,360,000 · 4.24% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $18,114
- Property tax
- $1,592
- Condo / maintenance fees
- $0
- Heating
- $0
- Estimated monthly cost
- $19,706
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $91,475
- Toronto municipal land transfer tax
- $105,475
- Estimated closing costs
- $196,950
Plus your down payment of $840,000. 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
- $1,086,848
- Principal paid down
- $422,882
- Interest paid
- $663,966
- Balance remaining
- $2,937,118
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
The suite is real income here: basements rent in Willowdale East (32 of 231 recent detached leases were basement units, around $2,150 a month). The figure above is the whole house on one lease; rented as two units, the suite alone brings about $2,150 a month on top of the upper floors. Permitted use is worth confirming with the city.
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 22 whole-home leases in Willowdale East signed at a median of $7,997 a month; adjusted to this home for size, beds and baths, and for where rents stood the month each signed, that is $8,159. 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 ARCREALTY INC.. MLS®/PropTx.