492 Manning Avenue, Toronto, ON
Palmerston-Little Italy, Toronto · MLS® C14033028
About this home
In short
- AND YES, THEY REALLY DO EXIST.
- Behind it and above, a 3-bedroom residence offering the ultimate live-work lifestyle, with vacant residential possession on closing.
- A fully finished lower level with kitchen, new 3-piece bathroom, living space and TWO separate exits/walkouts adds another layer of incredible flexibility.
- A deep, grassy backyard and a substantial 2-car block garage.
- Steps to Clinton Public School, half a block to Harbord Collegiate, and an easy stroll to U of T, Central Tech, fabulous cafés, restaurants and all the flavour of...
A LITTLE ITALY UNICORN. AND YES, THEY REALLY DO EXIST! Part home, part business, part investment opportunity and ALL kinds of fabulous! Tucked away on a quiet residential street in the heart of Palmerston-Little Italy, this rare mixed-use gem is anything but ordinary. Up front, a street-level commercial space with a long history as a successful neighbourhood salon. Behind it and above, a 3-bedroom residence offering the ultimate live-work lifestyle, with vacant residential possession on closing. And there's MORE! A fully finished lower level with kitchen, new 3-piece bathroom, living space and TWO separate exits/walkouts adds another layer of incredible flexibility. Out back? A deep, grassy backyard and a substantial 2-car block garage. Seriously, what's not to love? Steps to Clinton Public School, half a block to Harbord Collegiate, and an easy stroll to U of T, Central Tech, fabulous cafés, restaurants and all the flavour of Little Italy. The property is identified under City of Toronto Zoning Exception R 735 (Chapter 900.2.10), with reported longstanding non-residential use permissions and a 0.6 FSI density rating, all subject to independent verification. Dreaming of running your business steps from home? Investing in something truly distinctive? Or creating your own urban masterpiece? Here's your chance to think outside the ordinary. Because cookie-cutter is boring. And this property is anything but! Buyer to verify zoning, permitted uses and any proposed alterations with the City of Toronto.
Key facts
- Property type
- Other, 2-Storey
- MLS®
- C14033028
- Bedrooms
- 3+1 (4 total)
- Bathrooms
- 3 (1 half)
- Size
- 1500-2000 sq ft
- Lot
- 18.87 × 124 ft
- Cross streets
- Harbord & Bathurst
- Parking
- 2 garage (attached)
- Basement
- Apartment, Finished with Walk-Out
- Kitchens
- 2 (1 + 1)
- Heating
- Forced Air
- A/C
- Central Air
- Exterior
- Brick
- Foundation
- Unknown
- Roof
- Unknown
- Sewer
- Sewer
- Property tax
- $10,834 / 2025
- Days on market
- 5
- Listing brokerage
- FREEMAN REAL ESTATE LTD.
Rooms
combined w/dining · family size kitchen · fireplace
W/O To Patio
combined w/living · w/o to yard
B/I Shelves
open concept · combined w/dining · family size kitchen
walk-in closet(s) · east view · hardwood floor
open concept · w/o to yard · combined w/dining
south view · hardwood floor
west view · hardwood floor
closet · tile floor · w/o to yard
tile floor · open concept · 2 pc ensuite
window · walk-out · tile floor
open concept · combined w/office · tile floor
No automatic estimate is shown here: there is not a deep enough record of recent sales of homes like this one in this neighbourhood to support one.
Considering this property? Request a written price readIts public catchment (Clinton Street Junior Public School) tests around the provincial average, a steady, family-friendly draw. The full EQAO breakdown is below.
Nothing closely matching this home is listed nearby right now, so these are the nearest listings on the market.
Per square foot, these ask about $1,125/sqft; this home lists at $1,085/sqft. Size is part of the price story, not just the sticker.
The 4 closest active listings nearby.
See all comparable homesNeighbourhood & location
Palmerston-Little Italy, Toronto, ON
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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 19, 2026); conventional rates run a little higher.
Mortgage amount $1,519,200 · 4.49% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $8,400
- Property tax
- $903
- Condo / maintenance fees
- $0
- Heating
- $0
- Estimated monthly cost
- $9,303
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $34,455
- Toronto municipal land transfer tax
- $34,455
- Estimated closing costs
- $68,910
Plus your down payment of $379,800. 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
- $503,995
- Principal paid down
- $185,618
- Interest paid
- $318,377
- Balance remaining
- $1,333,582
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
Income potential: the basement has a separate entrance, which often supports a rentable in-law or second suite. That can lift real rent well above the figure above and help carry the mortgage. Ask us about permitted use in this area.
Thinking of this home as an investment? We will pull real comparable rents and run the full numbers with you.
Talk about the numbersEstimates only. Rent is modelled on above-grade size and local norms, so a finished basement or second suite (a separate entrance often means one) can push real rent well above this. Taxes, fees, and vacancy vary by property, and cap rate is before financing. A starting point, not a final number, let us run the real ones with you.
Helpful resources
All information deemed reliable but not guaranteed. For personal, non-commercial use only. Listing courtesy of FREEMAN REAL ESTATE LTD.. MLS®/PropTx.