318 Holmes Avenue, Toronto, ON
Willowdale East, Toronto · MLS® C13557598
About this home
In short
- Excellent opportunity for investors, builders, and developers in a prime North York location.
- The lot presents the possibility for redevelopment subject to city approvals, with potential for townhouse development.
Excellent opportunity for investors, builders, and developers in a prime North York location. This property offers strong long-term redevelopment potential, whether held as a rental or explored for future construction. The lot presents the possibility for redevelopment subject to city approvals, with potential for townhouse development. The surrounding area continues to experience active intensification, making this a strategic acquisition for those seeking future upside. The property may also benefit from potential land assembly with neighbouring parcels, further enhancing redevelopment options. Conveniently located near Bayview Avenue, transit, schools, and amenities. A rare chance to secure a well-positioned parcel in an established neighbourhood with strong growth fundamentals.
Key facts
- Property type
- Detached, Bungalow
- MLS®
- C13557598
- Bedrooms
- 3+3 (6 total)
- Bathrooms
- 3
- Size
- 1100-1500 sq ft
- Lot
- 85.59 × 104.98 ft
- Cross streets
- Bayview-Finch
- Parking
- 1 garage · 6 parking (attached)
- Driveway
- Private
- Basement
- Finished
- Kitchens
- 2 (1 + 1)
- Heating
- Forced Air
- A/C
- Central Air
- Exterior
- Brick
- Foundation
- Poured Concrete
- Roof
- Shingles
- Sewer
- Sewer
- Property tax
- $12,186 / 2025
- Days on market
- 60
- Listing brokerage
- RE/MAX REALTRON REALTY INC.
Listed at $2,098,000. My estimate lands at $1.38M, so the ask sits about 52% 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. 60 days on the market against about 37 for homes like it here, and asking 52% 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: $1.84M. That is about 33% 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 $1.38M, median of 35 comparables.
The market behind the math:
About 4.1 months of inventory: 50 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 $1,614/sqft against an area asking average of $878/sqft. Size and $/sqft both feed the estimate above.
How this estimate is builtthe short version
I take the 35 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 $1.84M, higher than the comparables and worth a second look.
What the listing highlights1 point to weigh
Claims from the listing, worth confirming in person. I can book you a private showing.
- Development potential: upside only if zoning permits, verify with the city before relying on it. Worth verifying
Schools & getting aroundcatchment and transit
Its public catchment (Earl Haig Secondary School) tests around the provincial average, a steady, family-friendly draw. The full EQAO breakdown is below.
Read this with carewhy it’s an estimate, not an appraisal
There were not many closely comparable homes right in Willowdale East, so I widened the search to the surrounding area.
Based on 35 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 $1.38M, which is where my estimate comes from.
Per square foot, these ask about $1,081/sqft; this home lists at $1,614/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 $1,678,400 · 4.24% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $9,048
- Property tax
- $1,016
- Condo / maintenance fees
- $0
- Heating
- $0
- Estimated monthly cost
- $10,064
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $38,925
- Toronto municipal land transfer tax
- $38,925
- Estimated closing costs
- $77,850
Plus your down payment of $419,600. 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
- $542,907
- Principal paid down
- $211,240
- Interest paid
- $331,667
- Balance remaining
- $1,467,160
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 23 whole-home leases in Willowdale East signed at a median of $4,300 a month; adjusted to this home for size, beds and baths, and for where rents stood the month each signed, that is $4,232. 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 RE/MAX REALTRON REALTY INC.. MLS®/PropTx.