15 Mcrae Drive, Toronto, ON
Leaside, Toronto · MLS® C13755912
About this home
In short
- Perfectly situated on an oversized sun filled south facing lot in South Leaside, this detached 3+1 bedroom, 3-bathroom home offers classic curb appeal, exceptional...
- The main floor offers a spacious living room with hardwood floors, crown moulding and a large bay window, overlooking an elegant dining room with a detailed ceiling...
- At the rear, a bright breakfast area flows into the sun-filled family room, which features a flat-top vaulted ceiling, expansive south-facing windows overlooking an...
- Upstairs are three well-proportioned bedrooms with hardwood floors, including a primary with built-in closets, plus a four piece updated family bath.
- The lower level offers a large recreation room, versatile fourth bedroom that can function as a home office or gym, laundry, four-piece bathroom, excellent storage...
Perfectly situated on an oversized sun filled south facing lot in South Leaside, this detached 3+1 bedroom, 3-bathroom home offers classic curb appeal, exceptional space with a two level extension, and a highly functional family layout. Set on an impressive 36 x 151 ft lot with a private drive, attached garage and ample parking, the home features approx. 3,163 sq. ft. of living space across three levels. The main floor offers a spacious living room with hardwood floors, crown moulding and a large bay window, overlooking an elegant dining room with a detailed ceiling, niche, and wall panelling. The galley kitchen features an abundance cabinetry with stainless steel appliances, a separate pantry space and direct access to the dining and breakfast areas. At the rear, a bright breakfast area flows into the sun-filled family room, which features a flat-top vaulted ceiling, expansive south-facing windows overlooking an expansive wood deck, wall-to-wall built-ins and beautiful garden views. A four-piece bathroom completes the main level. Upstairs are three well-proportioned bedrooms with hardwood floors, including a primary with built-in closets, plus a four piece updated family bath. The lower level offers a large recreation room, versatile fourth bedroom that can function as a home office or gym, laundry, four-piece bathroom, excellent storage and a separate entrance. The expansive rear gardens are extensive, offering a private retreat with expansive deck, stone patio, lush lawn, garden shed and play structure. Ideally located in the coveted Rolph Road, Bessborough and Leaside High school districts, and close to top private schools, TTC, parks and the shops, cafés and restaurants of Bayview Avenue. An exceptional opportunity in one of Toronto's most sought-after neighbourhoods.
Key facts
- Property type
- Detached, 2-Storey
- MLS®
- C13755912
- Bedrooms
- 3+1 (4 total)
- Bathrooms
- 3
- Size
- 1500-2000 sq ft
- Lot
- 36 × 151.42 ft
- Cross streets
- South Leaside
- Parking
- 1 garage · 3 parking (attached)
- Driveway
- Private
- Basement
- Finished, Separate Entrance
- Heating
- Radiant
- A/C
- Wall Unit(s)
- Exterior
- Brick, Vinyl Siding
- Foundation
- Concrete Block
- Roof
- Asphalt Shingle
- Sewer
- Sewer
- Property tax
- $11,272 / 2026
- Listing brokerage
- ROYAL LEPAGE REAL ESTATE SERVICES HEAPS ESTRIN TEA
Rooms
hardwood floor · overlooks backyard
laminate · pot lights · above grade window
hardwood floor · b/i closet · overlooks frontyard
hardwood floor · combined w/family · walk-out
tile floor · granite counters · stainless steel appl
hardwood floor · vaulted ceiling(s) · juliette balcony
laminate · 4 pc bath · laundry sink
laminate · pot lights · above grade window
hardwood floor · crown moulding · bay window
hardwood floor · b/i closet · overlooks backyard
hardwood floor · wainscoting · overlooks living
Hardwood Floor
Listed at $2,195,000 with no offer date, so the ask is the seller’s number, and homes priced this way sell close to it. My read is $2.14M, typically $1.89M to $2.37M. Comparable closings on their own put this home around $2.00M, 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.
Second read, from the city assessment: $2.11M. 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 $2.14M, median of 101 comparables.
The market behind the math:
About 1.1 months of inventory: 9 detached homes for sale in the area against 24 closings in the last 90 days. Under two months favours sellers, over four favours buyers.
Price per square foot: this home lists at $1,254/sqft against an area asking average of $1,463/sqft. Size and $/sqft both feed the estimate above.
- Separate-entrance basement apartment features. A finished 1 bed basement apartment with a separate entrance. A self-contained space for extended family, guests or potential income. In Leaside basements rarely rent out (2 of 81 recent detached leases were basement units), so buyers here treat a suite as family or nanny space rather than income. Value it for the living space, not the rent. 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 101 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 $2.11M, 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.
- Separate entrance / basement suite: rental or in-law income potential, if it is legally registered and retrofit-compliant. Income potential
- Tall ceilings: they transform how a home feels, worth confirming the actual heights room to room. Worth verifying
- Hardwood floors: quality hardwood is durable and broadly desirable. Lifestyle
- Transit / schools nearby: convenience and resale support, verify the exact distances and school catchment. Value driver
Schools & getting aroundcatchment and transit
On schools, this address is zoned for Bessborough Drive Elementary and Middle 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
There were not many closely comparable homes right in Leaside, so I widened the search to the surrounding area.
Based on 101 comparable homes that sold in Leaside over the past two years, from 222 closings there.
Nothing 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 $2.00M, which is where my estimate comes from.
Per square foot, these ask about $1,457/sqft; this home lists at $1,254/sqft. Size is part of the price story, not just the sticker.
The 3 closest active listings nearby.
See all comparable homesNeighbourhood & location
Leaside, 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 8, 2026); conventional rates run a little higher.
Mortgage amount $1,756,000 · 4.24% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $9,467
- Property tax
- $939
- Condo / maintenance fees
- $0
- Heating
- $0
- Estimated monthly cost
- $10,406
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $41,350
- Toronto municipal land transfer tax
- $41,350
- Estimated closing costs
- $82,700
Plus your down payment of $439,000. 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
- $568,008
- Principal paid down
- $221,006
- Interest paid
- $347,001
- Balance remaining
- $1,534,994
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
About the suite: in Leaside basements rarely rent out (2 of 81 recent detached leases were basement units), so the figure above does not count it as income. Buyers here use a suite as family or nanny space.
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 33 whole-home leases in Leaside signed at a median of $6,658 a month; adjusted to this home for size, beds and baths, and for where rents stood the month each signed, that is $6,465. 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 ROYAL LEPAGE REAL ESTATE SERVICES HEAPS ESTRIN TEA. MLS®/PropTx.