137 Merkley Square, Toronto, ON
Morningside, Toronto · MLS® E13656576
About this home
In short
- Absolute Elegance in a Stunning 5+2 Bedroom, 4-Bath Detached HomeWelcome to this beautifully maintained freehold detached home, offering 5+2 bedrooms and 4 bathrooms...
- Perfectly positioned just an 8-minute drive from the University of Toronto Scarborough campus and Centennial College Morningside Campus, this exceptional home is also...
- Thoughtfully updated and move-in ready, this impressive residence showcases a renovated chef-inspired kitchen, beautifully updated bathrooms, fresh designer paint...
- The main floor is designed for both everyday living and entertaining, offering elegant separate living and dining rooms, a gourmet eat-in kitchen with modern...
- The professionally finished basement includes a self-contained 2-bedroom in-law suite, presenting an excellent opportunity for multi-generational living or valuable...
Absolute Elegance in a Stunning 5+2 Bedroom, 4-Bath Detached HomeWelcome to this beautifully maintained freehold detached home, offering 5+2 bedrooms and 4 bathrooms in one of Scarborough's most desirable family-friendly communities. Perfectly positioned just an 8-minute drive from the University of Toronto Scarborough campus and Centennial College Morningside Campus, this exceptional home is also conveniently located near the renowned Scarborough Health Network - Centenary Hospital, the world-class Toronto Pan Am Sports Centre, TTC, waterfront parks, scenic walking trails, shopping, schools, and major highways.Thoughtfully updated and move-in ready, this impressive residence showcases a renovated chef-inspired kitchen, beautifully updated bathrooms, fresh designer paint, modern lighting, and numerous upgrades throughout. The spacious primary suite serves as a private retreat, featuring picturesque views, a luxurious 5-piece ensuite with a relaxing soaker tub and separate glass shower, as well as a generous walk-in closet. Four additional well-proportioned bedrooms provide plenty of space for growing families, guests, or a home office.The main floor is designed for both everyday living and entertaining, offering elegant separate living and dining rooms, a gourmet eat-in kitchen with modern appliances, a cozy family room with fireplace, and an abundance of natural light throughout.The professionally finished basement includes a self-contained 2-bedroom in-law suite, presenting an excellent opportunity for multi-generational living or valuable rental income. Separate Laundries. Experience the perfect balance of luxury, comfort, and location in a home that places you just minutes from leading educational institutions, premier healthcare, recreation, and nature while offering the privacy and tranquility of a true urban retreat. This is a rare opportunity to own a remarkable home in one of Scarborough's most sought-after locations.Don't miss this Beautiful House.
Key facts
- Property type
- Detached, 2-Storey
- MLS®
- E13656576
- Bedrooms
- 5+2 (7 total)
- Bathrooms
- 4 (1 half)
- Size
- 2500-3000 sq ft
- Lot
- 45 × 112 ft
- Cross streets
- Orton Park And Ellesmere
- Parking
- 1 garage · 5 parking (attached)
- Driveway
- Private
- Basement
- Finished, Separate Entrance
- Kitchens
- 2 (1 + 1)
- Heating
- Forced Air
- A/C
- Central Air
- Exterior
- Brick
- Foundation
- Concrete
- Roof
- Asphalt Shingle
- Sewer
- Sewer
- Property tax
- $3,800 / 2026
- Days on market
- 70
- Listing brokerage
- HOMELIFE/MIRACLE REALTY LTD
Rooms
laminate · window
laminate · window
hardwood floor · window · closet
ceramic floor · quartz counter · renovated
hardwood floor · 5 pc ensuite · closet
ceramic floor · window
hardwood floor · window · closet
hardwood floor · window · closet
hardwood floor · window · closet
hardwood floor · window
hardwood floor · window · eat-in kitchen
Listed at $1,250,000. Going by how homes in Morningside and the wider GTA have actually closed against their asking prices (about 99%, 10 local closings in 90 days), the likely sale price is near $1.23M, if it sells. A realistic range is $1.15M to $1.39M.
Independent value check: $1.29M. Without looking at the asking price, our model values the home itself about 3% above the ask (homes like it typically land between $1.21M and $1.35M).
Why $1.29M. The typical detached home sold in Morningside over the past year went for about $840K (49 sales). What sets this one apart:
- ▲ Raises it stronglyIt is 2,500 to 3,000 sq ft; the typical home sold here is 1,100 to 1,500.
- ▲ Raises itThe listing describes it as fully renovated or newly built.
- ▲ Raises it5+2 bedrooms and 4 baths, against 3+1 and 2 typically.
- ▲ Raises it slightlyIts tax bill, which follows the city's own assessment, is $3,800 a year; the typical home sold here pays about $4,000.
Total price vs nearby homes. Likely closing about $1.23M, from 10 recent closings in this pocket.
The market behind the math:
About 5.4 months of inventory: 18 detached homes for sale in the area against 10 closings in the last 90 days. Under two months favours sellers, over four favours buyers.
Price per square foot: this home lists at $455/sqft against an area asking average of $700/sqft.
- Separate-entrance basement apartment features. A finished 2 bed 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 Morningside: 16 of the 47 detached leases here lately were basement units, around $1,473 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 10 most comparable recent sales on their own, adjusted for size, beds, baths and lot, point to about $869K. Condition and finishes remain an in-person call.
What the listing highlights3 points to weigh
Claims from the listing, worth confirming in person. I can book you a private showing.
- Finished basement: added living space, worth checking ceiling height and that the work was permitted. Value driver
- Renovated / rebuilt: recent work can mean fewer upfront costs, worth confirming the scope, quality, and that permits were pulled. Value driver
- Upscale kitchen: a genuine value driver, verify the appliances, stone, and finishes in person. Value driver
Schools & getting aroundcatchment and transit
The assigned public school is Woburn Collegiate Institute. EQAO is only one input, and families here also look at French Immersion, boundary, and private options, the full breakdown is below.
Read this with carewhy it’s an estimate, not an appraisal
There were not many closely comparable homes right in Morningside, so I widened the search to the surrounding area.
Based on 10 comparable homes that sold in Morningside over the past two years, from 82 closings there.
For sale
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For saleNothing 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 $1.29M, which is where my estimate comes from.
Per square foot, these ask about $650/sqft; this home lists at $455/sqft. Size is part of the price story, not just the sticker.
The 5 closest of 8 active listings nearby.
See all comparable homesSold price trend
Median sold price for detached homes in Toronto: $1.20M in September 2026, down 1% from a year ago, on 7,360 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 | $1.25M | 739 |
| November 2025 | $1.21M | 596 |
| December 2025 | $1.14M | 384 |
| January 2026 | $1.20M | 285 |
| February 2026 | $1.23M | 453 |
| March 2026 | $1.34M | 580 |
| April 2026 | $1.31M | 776 |
| May 2026 | $1.30M | 861 |
| June 2026 | $1.25M | 772 |
| July 2026 | $1.17M | 684 |
| August 2026 | $1.19M | 552 |
| September 2026 | $1.20M | 678 |
Neighbourhood & location
Morningside, 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
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 $1,000,000 · 4.49% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $5,529
- Property tax
- $317
- Condo / maintenance fees
- $0
- Heating
- $0
- Estimated monthly cost
- $5,846
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $21,475
- Toronto municipal land transfer tax
- $21,475
- Estimated closing costs
- $42,950
Plus your down payment of $250,000. 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
- $331,750
- Principal paid down
- $122,182
- Interest paid
- $209,569
- Balance remaining
- $877,818
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 Morningside (16 of 47 recent detached leases were basement units, around $1,473 a month). The figure above is the whole house on one lease; rented as two units, the suite alone brings about $1,473 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 13 whole-home leases in Morningside signed at a median of $2,100 a month; adjusted to this home for size, beds and baths, and for where rents stood the month each signed, that is $3,335. 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 HOMELIFE/MIRACLE REALTY LTD. MLS®/PropTx.