227 Montrose Avenue, Toronto, ON
Palmerston-Little Italy, Toronto · MLS® C14030820
About this home
In short
- Welcome to 227 Montrose Avenue, ideally situated in the Iconic Little Italy, one of central Toronto's most vibrant and walkable neighbourhoods.
- Adding even more versatility is the double-car laneway garage, offering valuable parking in the heart of the city and potential future garden suite opportunities.
- A newer roof, (approx) 7 years new, provides additional peace of mind.
- With an approximate Walk Score of 97/100, Transit Score of 89/100 and Bike Score of 100/100, everyday convenience is right outside your door.
- Whether you're looking for a spacious family home, a multi-generational property, an income-producing opportunitiy or a home with future development potential, 227...
Welcome to 227 Montrose Avenue, ideally situated in the Iconic Little Italy, one of central Toronto's most vibrant and walkable neighbourhoods. This versatile home offers an exceptional combination of charactor, space, lifestyle and future potential. The home features a rear extension that expands the living space, a fully underpinned basement, and three kitchens, providing the potential to configure the property into up to three separate living suites. Adding even more versatility is the double-car laneway garage, offering valuable parking in the heart of the city and potential future garden suite opportunities. A newer roof, (approx) 7 years new, provides additional peace of mind. The location is equally impressive. With an approximate Walk Score of 97/100, Transit Score of 89/100 and Bike Score of 100/100, everyday convenience is right outside your door. Enjoy easy access to Christie Pits Park, College Street, Little Italy, Kensington Market, Bloor Street, restaurants, cafes, shopping, schools and TTC transit. The neighbourhood offers the best of cental Toronto living - quiet residential streets combined with an incredible selection of dining, recreation, entertainment and urban amenities. Whether you're looking for a spacious family home, a multi-generational property, an income-producing opportunitiy or a home with future development potential, 227 Montrose offers tremendous flexibility. Live, invest and enjoy everything central Toronto has to offer, all from one exceptional location.
Key facts
- Property type
- Semi-Detached, 2 1/2 Storey
- MLS®
- C14030820
- 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
- 5
- Listing brokerage
- RE/MAX PROFESSIONALS INC.
Rooms
hardwood floor · closet · large window
w/o to patio · hardwood floor · closet
tile floor · laundry sink
stone fireplace · hardwood floor · large window
hardwood floor · wood trim · large window
tile floor · closet · 4 pc bath
tile floor · wood trim
family size kitchen · ceramic floor · double sink
combined w/br · tile floor · stainless steel sink
ceramic floor · w/o to patio · large window
concrete floor · b/i shelves
hardwood floor · closet · overlooks backyard
hardwood floor · closet · window
above grade window · b/i shelves · tile floor
tile floor · backsplash · double sink
Listed at $1,675,000. Going by how homes in Palmerston-Little Italy and the wider GTA have actually closed against their asking prices (about 99%, 12 local closings in 90 days), the likely sale price is near $1.66M, if it sells. A realistic range is $1.55M to $1.87M.
Independent value check: $1.37M. Without looking at the asking price, our model values the home itself about 18% below the ask (homes like it typically land between $1.28M and $1.43M).
Why $1.37M. The typical semi-detached home sold in Palmerston-Little Italy over the past year went for about $1.38M (44 sales). What sets this one apart:
- ▼ Lowers itIts tax bill, which follows the city's own assessment, is $7,218 a year; the typical home sold here pays about $7,600.
- ▼ Lowers it slightlyIts lot is 17 by 110 ft; the typical lot sold here is 20 by 125.
- ▼ Lowers it slightly4 bedrooms and 2 baths, against 4+1 and 3 typically.
Total price vs nearby homes. Likely closing about $1.66M, from 12 recent closings in this pocket.
The market behind the math:
About 1.8 months of inventory: 7 semi-detached homes for sale in the area against 12 closings in the last 90 days. Under two months favours sellers, over four favours buyers.
Price per square foot: this home lists at $957/sqft against an area asking average of $790/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: 29 of the 147 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 12 most comparable recent sales on their own, adjusted for size, beds, baths and lot, point to about $1.36M. Condition and finishes remain an in-person call.
What the listing highlights2 points to weigh
Claims from the listing, worth confirming in person. I can book you a private showing.
- Recent major systems: lower near-term capital costs, ask for the ages and any warranties. Value driver
- 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
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 88 closings in Palmerston-Little Italy.
Nothing 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 $660/sqft; this home lists at $957/sqft. Size is part of the price story, not just the sticker.
The 3 closest active listings nearby.
See all comparable homesSold price trend
Median sold price for semi-detached homes in Toronto: $1.12M in September 2026, up 2% from a year ago, on 2,409 closings in 12 months.
Line: median sold price, each month averaged with its neighbours and weighted by closings. Bars: closings that month. Toronto as a whole: the neighbourhood alone has too few closings for a line of its own.
Month by month
| Month | Median sold | Closings |
|---|---|---|
| October 2025 | $1.08M | 252 |
| November 2025 | $1.03M | 207 |
| December 2025 | $967K | 117 |
| January 2026 | $997K | 100 |
| February 2026 | $1.09M | 151 |
| March 2026 | $1.18M | 180 |
| April 2026 | $1.18M | 242 |
| May 2026 | $1.18M | 282 |
| June 2026 | $1.21M | 262 |
| July 2026 | $999K | 237 |
| August 2026 | $970K | 166 |
| September 2026 | $1.12M | 213 |
Neighbourhood & 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 October 20, 2026); conventional rates run a little higher.
Mortgage amount $1,340,000 · 4.49% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $7,409
- Property tax
- $602
- Condo / maintenance fees
- $0
- Heating
- $0
- Estimated monthly cost
- $8,011
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $29,975
- Toronto municipal land transfer tax
- $29,975
- Estimated closing costs
- $59,950
Plus your down payment of $335,000. 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
- $444,545
- Principal paid down
- $163,723
- Interest paid
- $280,822
- Balance remaining
- $1,176,277
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 (29 of 147 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 17 whole-home leases in Palmerston-Little Italy signed at a median of $5,077 a month; adjusted to this home for size, beds and baths, and for where rents stood the month each signed, that is $5,204. 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.