137 King Edward Avenue, Toronto, ON
Woodbine-Lumsden, Toronto · MLS® E13726010
About this home
**Welcome to 137 King Edward Avenue!** An exciting opportunity to build your dream custom home on a vacant lot in an amazing and well-established neighborhood. This property is **ready for construction with a city-approved design**, making it an excellent opportunity for builders, investors, or families looking to create a home tailored to their needs. The approved design offers approximately **1,700 sq. ft. of modern living space** with an open-concept layout featuring a spacious living room, family room, and kitchen. The planned home also includes a **separate basement entrance** with a one-bedroom basement unit, offering excellent potential for an in-law suite, extended family, or additional rental income. Situated in a **wonderful community with friendly neighbors**, this property offers exceptional convenience. Enjoy easy access to the **DVP** and be just steps away from **schools, parks, TTC, shops, restaurants, and local farmers' markets**.A rare opportunity to build a modern custom home in a fantastic location. **Bring your vision to life at 137 King Edward Avenue!**
Key facts
- Property type
- Detached, 2-Storey
- MLS®
- E13726010
- Bedrooms
- 4 (3 + 1)
- Size
- 700 sq ft
- Lot
- 17.45 × 126.38 ft
- Cross streets
- Woodbine & Lumsden
- Parking
- 0 parking
- Basement
- None
- Heating
- Other
- A/C
- None
- Exterior
- Other
- Foundation
- Not Applicable
- Roof
- Not Applicable
- Sewer
- Sewer
- Property tax
- $3,829 / 2026
- Listing brokerage
- ROYAL LEPAGE VISION REALTY
Listed at $599,000, and my independent estimate is about 20% below comparable homes, worth a close look.
Total price vs nearby homes. Fair value about $749K, median of 14 comparables.
The market behind the math:
Price per square foot: this home lists at $856/sqft against an area asking average of $839/sqft. Size and $/sqft both feed the estimate above.
How this estimate is builtthe short version
I take the 14 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 $744K, a close match.
What the listing highlights2 points to weigh
Claims from the listing, worth confirming in person. I can book you a private showing.
- Open-concept layout: modern, sought-after flow. Lifestyle
- Development potential: upside only if zoning permits, verify with the city before relying on it. Worth verifying
Schools & getting aroundcatchment and transit
Its public catchment (Gledhill Junior 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
Below comparable homes on total price, yet the price per square foot ($856/sqft) is in line with the area, which usually points to a smaller or more efficient layout.
There were not many closely comparable homes right in Woodbine-Lumsden, so I widened the search to the surrounding area.
Based on 14 comparable homes that recently sold nearby.
Nothing 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 $749K, which is where my estimate comes from.
Per square foot, these ask about $947/sqft; this home lists at $856/sqft. Size is part of the price story, not just the sticker.
The 4 closest active listings nearby.
See all comparable homesNeighbourhood & location
Woodbine-Lumsden, 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.
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 4.09% via Ratehub.ca (as of August 29, 2026); conventional rates run a little higher.
Mortgage amount $479,200 · 4.24% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $2,583
- Property tax
- $319
- Condo / maintenance fees
- $0
- Heating
- $0
- Estimated monthly cost
- $2,903
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $8,455
- Toronto municipal land transfer tax
- $8,455
- Estimated closing costs
- $16,910
Plus your down payment of $119,800. 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
- $155,005
- Principal paid down
- $60,311
- Interest paid
- $94,694
- Balance remaining
- $418,889
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
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 ROYAL LEPAGE VISION REALTY. MLS®/PropTx.