39 Magnolia Avenue, Toronto, ON
Kennedy Park, Toronto · MLS® E13601962
About this home
A smart opportunity for investors, first-time buyers, or families looking to offset monthly carrying costs with strong rental income potential. Set on a 25' x 104' lot, this semi detached 2-storey home offers 4+2 bedrooms, 3 bathrooms, and approx. 1,360 sq. ft. above grade, providing a versatile layout for both end-users and income-focused buyers. The main floor features an updated kitchen, while renovated bathrooms add a fresh, modern touch throughout. The lower level includes two additional bedrooms, offering excellent flexibility for extended family use or additional rental income potential. With rental income reported by the seller at approximately $6,500 per month, this property presents an attractive option for buyers looking to reduce their monthly payments while building equity in a convenient Toronto location. Walkable to schools, trails, transit, shops, and everyday amenities, this well-kept home combines practical updates, strong functionality, and income-generating potential in one complete package. Buyer to verify rental income, measurements, and permitted use.
Key facts
- Property type
- Semi-Detached, 2-Storey
- MLS®
- E13601962
- Bedrooms
- 5 (4 + 1)
- Bathrooms
- 3
- Size
- 1100-1500
- Lot
- 25 × 104 ft
- Cross streets
- Midland Ave/ Danforth Rd.
- Parking
- 1 garage · 3 parking (built-in)
- Driveway
- Available
- Basement
- Finished with Walk-Out
- Kitchens
- 2 (1 + 1)
- Heating
- Forced Air
- A/C
- Central Air
- Exterior
- Brick
- Foundation
- Brick
- Roof
- Shingles
- Sewer
- Sewer
- Property tax
- $3,537 / 2025
- Listing brokerage
- RE/MAX GOLD REALTY INC.
Rooms
vinyl floor · w/o to garage
hardwood floor · closet
parquet · formal rm
hardwood floor · closet
vinyl floor · backsplash
hardwood floor · closet
hardwood floor · closet
hardwood floor · formal rm
hardwood floor · formal rm
ceramic floor · 3 pc ensuite
vinyl floor · formal rm
Listed at $779,800, and my independent estimate is within the range of comparable homes, on the lower side.
In Kennedy Park lately, sellers get about 98% of asking; homes sell in ~18 days · prices down 8% YoY.
Total price vs nearby homes. Fair value about $944K, median of 30 comparables.
- Walk-out basement. Extra light, usable space, and income potential, so the estimate is a conservative floor for it.
How this estimate is builtthe short version
I take the 30 most comparable recent sales nearby and adjust each one to this home for the real differences (size, beds, baths, garage, and standout features), 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 $788K, a bit lower.
What the listing highlights1 point to weigh
Claims from the listing, worth confirming in person. I can book you a private showing.
- Renovated / rebuilt: recent work can mean fewer upfront costs, worth confirming the scope, quality, and that permits were pulled. Value driver
Schools & getting aroundcatchment and transit
The assigned public school is Norman Cook Junior Public School. EQAO is only one input, and families here also look at French Immersion, boundary, and private options, the full breakdown is below.
On location, it is moderately walkable, so some daily errands are within reach and for the rest you will likely drive. Magnolia Avenue is about a 2-minute walk away.
Read this with carewhy it’s an estimate, not an appraisal
There were not many closely comparable homes right in Kennedy Park, so I widened the search to the surrounding area.
Based on 30 comparable homes that recently sold nearby.
The closest active listings by size, beds, and price, so you can see what this home is up against.
The 3 closest active listings nearby.
See all comparable homesThis home lists 19% below the area average of $743/sqft.
View comparable listingsPrice per square foot vs the area average.
Neighbourhood & location
Kennedy Park, Toronto, ON
Enter a workplace or destination and we’ll show the door-to-door time by car, transit and bike.
Getting around
WalkableA walkability read built from the amenities around this home: how close the nearest transit stop is, and how many grocery, dining, park, and pharmacy destinations fall within a 15-minute walk. It is a guide, not a guarantee. Places data from OpenStreetMap contributors.
Many errands can be done on foot; a car still helps.
🚉 Nearest transit: Magnolia Avenue, about 163 m away
Within a 15-minute (1.5 km) walk.
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.
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
Conventional (20%+ down). Best insured 5-year fixed 3.99% via Ratehub.ca (as of July 24, 2026); conventional rates run a little higher.
Mortgage amount $623,840 · 4.14% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $3,329
- Property tax
- $295
- Condo / maintenance fees
- $0
- Heating
- $0
- Estimated monthly cost
- $3,624
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $12,071
- Toronto municipal land transfer tax
- $12,071
- Estimated closing costs
- $24,142
Plus your down payment of $155,960. 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
- $199,743
- Principal paid down
- $79,446
- Interest paid
- $120,296
- Balance remaining
- $544,394
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 RE/MAX GOLD REALTY INC.. MLS®/PropTx.