227 Montrose Avenue, Toronto, ON
Palmerston-Little Italy, Toronto · MLS® C13796430
About this home
In short
- Welcome to 227 Montrose Avenue, a charming 1910-built 2.5 storey semi-detached home with ~1,650 sf of above grade living space, four bedrooms, two full updated...
- Rich in original character, the main level features 9' ceilings, a grand living room with hardwood floors, wood trim and a wood-burning fireplace with stone surround...
- Four spacious bedrooms are arranged across the upper levels, where hardwood floors and original wood trim continue.
- The professionally underpinned lower level features ~8 ceilings and adds substantial finished living space, along with a dedicated laundry room, two cantinas/cold...
- A solid-block detached double garage accommodates two cars and offers direct laneway access with potential to explore a future laneway suite.
Welcome to 227 Montrose Avenue, a charming 1910-built 2.5 storey semi-detached home with ~1,650 sf of above grade living space, four bedrooms, two full updated bathrooms, a finished underpinned lower level and a versatile configuration in the heart of Palmerston-Little Italy. Rich in original character, the main level features 9' ceilings, a grand living room with hardwood floors, wood trim and a wood-burning fireplace with stone surround and wall sconces, an adjoining formal dining room & an updated eat-in kitchen with Cellini cabinetry, expanded through a rear addition to include a dedicated breakfast area. Four spacious bedrooms are arranged across the upper levels, where hardwood floors and original wood trim continue. Three kitchens and three separate entry points create excellent multi-use potential for multi-generational living, a nanny suite or a potential income-generating apartment (subject to approvals), or the additional kitchens could easily be converted to bedrooms. The professionally underpinned lower level features ~8 ceilings and adds substantial finished living space, along with a dedicated laundry room, two cantinas/cold rooms and extensive storage beneath the rear addition. Outdoor spaces include a rear patio for dining and entertaining plus a private third-floor rooftop patio accessed from the primary bedroom. A solid-block detached double garage accommodates two cars and offers direct laneway access with potential to explore a future laneway suite. Additional updates include a sump pump, gas furnace, central air and a newer roof. Steps from College Street's restaurants, cafés and shops, with Christie Pits, Bickford Park, U of T, Bloor Street shops, Kensington Market, College streetcar & Christie subway nearby. Well-regarded local schools include Montrose JPS, Harbord CI, Pope Francis Catholic & St. Mary Catholic Academy. A character-filled Toronto home with significant improvements, versatile living options and exciting laneway potential.
Key facts
- Property type
- Semi-Detached, 2 1/2 Storey
- MLS®
- C13796430
- Bedrooms
- 4
- Bathrooms
- 2
- Size
- 1500-2000 sq ft
- Lot
- 16.5 × 110 ft
- Cross streets
- College Street and Montrose Avenue
- Parking
- 2 garage (detached)
- Driveway
- Lane
- Basement
- Finished, Separate Entrance
- Kitchens
- 3 (2 + 1)
- Heating
- Forced Air
- A/C
- Central Air
- Exterior
- Brick
- Foundation
- Brick, Concrete, Concrete Block
- Roof
- Asphalt Shingle, Flat, Rolled, Membrane
- Sewer
- Sewer
- Property tax
- $7,218 / 2026
- Days on market
- 12
- Listing brokerage
- RE/MAX PROFESSIONALS INC.
Rooms
tile floor · wood trim
ceramic floor · w/o to patio · large window
tile floor · backsplash · double sink
tile floor · closet · 4 pc bath
hardwood floor · closet · large window
hardwood floor · closet · overlooks backyard
family size kitchen · ceramic floor · double sink
w/o to patio · hardwood floor · closet
hardwood floor · wood trim · large window
hardwood floor · closet · window
above grade window · b/i shelves · tile floor
tile floor · laundry sink
concrete floor · b/i shelves
combined w/br · tile floor · stainless steel sink
stone fireplace · hardwood floor · large window
Listed at $1,749,999. Going by how homes in Palmerston-Little Italy and the wider GTA have actually closed against their asking prices (about 99%, 14 local closings in 90 days), the likely sale price is near $1.73M, if it sells. A realistic range is $1.62M to $1.95M.
Independent value check: no figure for this home. Going only by the sales record, our model lands more than 25% below the ask. At that distance an automated figure has rarely been close to the eventual sale price, so we are not printing one. The usual reason is something the record cannot show: a rebuild, a second unit, or a lot or setting unlike the homes around it.
Total price vs nearby homes. Likely closing about $1.73M, from 14 recent closings in this pocket.
The market behind the math:
About 2.4 months of inventory: 11 semi-detached homes for sale in the area against 14 closings in the last 90 days. Under two months favours sellers, over four favours buyers.
Price per square foot: this home lists at $1,000/sqft against an area asking average of $1,042/sqft.
- Separate-entrance basement apartment features. A finished basement apartment with a separate entrance and a second kitchen. A self-contained space for extended family, guests or potential income. Basements do rent in Palmerston-Little Italy: 28 of the 142 detached leases here lately were basement units, around $1,750 a month. That makes the suite real income. 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
This figure comes from a model built on about 44,000 recent GTA sales. It weighs this home’s tax assessment, size, age, location and features against what homes like it actually sold for, including sales in this neighbourhood.
It never sees the asking price. The 14 most comparable recent sales on their own, adjusted for size, beds, baths and lot, point to about $1.38M. Condition and finishes remain an in-person call.
What the listing highlights4 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
- Recent major systems: lower near-term capital costs, ask for the ages and any warranties. Value driver
- Hardwood floors: quality hardwood is durable and broadly desirable. Lifestyle
- Garden / laneway suite potential: extra-unit upside, but confirm zoning and feasibility with the city. Worth verifying
Schools & getting aroundcatchment and transit
Its public catchment (King Edward Junior and Senior Public 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
Priced above comparable homes overall, but the price per square foot ($1,000/sqft) is in line with the area, so you are paying for extra space rather than a premium.
There were not many closely comparable homes right in Palmerston-Little Italy, so I widened the search to the surrounding area.
Based on 5 homes sold on this street over the past two years, from 89 closings in Palmerston-Little Italy.
For sale
For sale
For sale
For sale
For sale
For sale
For saleNothing closely matching this home is listed nearby right now, so these are the nearest semi-detached listings on the market. Homes like this one have recently closed around $1.37M, which is where my estimate comes from.
Per square foot, these ask about $865/sqft; this home lists at $1,000/sqft. Size is part of the price story, not just the sticker.
The 5 closest of 7 active listings nearby.
See all comparable homesNeighbourhood & location
Palmerston-Little Italy, 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 4.34% via Ratehub.ca (as of September 30, 2026); conventional rates run a little higher.
Mortgage amount $1,399,999 · 4.49% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $7,741
- Property tax
- $602
- Condo / maintenance fees
- $0
- Heating
- $0
- Estimated monthly cost
- $8,342
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $31,475
- Toronto municipal land transfer tax
- $31,475
- Estimated closing costs
- $62,950
Plus your down payment of $350,000. 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
- $464,450
- Principal paid down
- $171,054
- Interest paid
- $293,396
- Balance remaining
- $1,228,945
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 Palmerston-Little Italy (28 of 142 recent detached leases were basement units, around $1,750 a month). The figure above is the whole house on one lease; rented as two units, the suite alone brings about $1,750 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 16 whole-home leases in Palmerston-Little Italy signed at a median of $4,937 a month; adjusted to this home for size, beds and baths, and for where rents stood the month each signed, that is $4,998. 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 PROFESSIONALS INC.. MLS®/PropTx.