42 Banner Lane, King, ON
King City, King · MLS® N12832422
About this home
In short
- Exceptional Opportunity in Kings Prestigious Neighborhood, Highly sought-after area of King City on an expansive pie-shaped lot, approximately 200 feet deep with a...
- This large Backsplit 5 features 4 bedrooms and 3 bathrooms, offering a spacious layout perfect for a growing family.
- With 2 kitchens, a wet bar, and a huge cold room, this home is ideal for multi-generational living.
- This is a prime opportunity for builders looking to renovate or build on this oversized lot in a prestigious neighborhood.
Exceptional Opportunity in Kings Prestigious Neighborhood, Highly sought-after area of King City on an expansive pie-shaped lot, approximately 200 feet deep with a 135-foot-wide rear yard. Surrounded by multi-million-dollar estates, this expansive and private parcel offers the perfect canvas to build your dream home in a serene and established enclave. This large Backsplit 5 features 4 bedrooms and 3 bathrooms, offering a spacious layout perfect for a growing family. Just steps from public transit, the community center, scenic hiking trails, and top private and public schools, this home provides both convenience and tranquility. With 2 kitchens, a wet bar, and a huge cold room, this home is ideal for multi-generational living. The beautifully fenced backyard boasts a vegetable garden, fruit trees, and a variety of perennial flowers and shrubs, along with a garden shed for additional storage. This is a prime opportunity for builders looking to renovate or build on this oversized lot in a prestigious neighborhood. Don't miss out on this exceptional property!
Key facts
- Property type
- Detached, Backsplit 5
- MLS®
- N12832422
- Bedrooms
- 5
- Bathrooms
- 3
- Size
- 2500-3000 sq ft
- Lot
- 71.36 × 197.59 ft
- Cross streets
- King Rd/Banner Lane
- Parking
- 2 garage · 6 parking (attached)
- Driveway
- Private Double
- Basement
- Finished
- Kitchens
- 2 (1 + 1)
- Heating
- Forced Air
- A/C
- Central Air
- Exterior
- Brick
- Foundation
- Block
- Roof
- Shingles
- Sewer
- Sewer
- Property tax
- $8,272 / 2025
- Days on market
- 228
- Listing brokerage
- RE/MAX REALTRON REALTY INC.
Rooms
ceramic floor · wet bar · window
Ceramic Floor
hardwood floor · walk-in closet(s) · 3 pc ensuite
hardwood floor · closet · window
hardwood floor · crown moulding · window
ceramic floor · eat-in kitchen · window
parquet · w/o to garden
ceramic floor · window
hardwood floor · crown moulding · window
parquet · fireplace · window
hardwood floor · closet · window
hardwood floor · closet · window
Listed at $1,799,000. Going by how homes in King City and the wider GTA have actually closed against their asking prices (about 97%, 17 local closings in 90 days), the likely sale price is near $1.74M, if it sells. A realistic range is $1.63M to $1.96M.
Independent value check: $1.59M. Without looking at the asking price, our model values the home itself about 12% below the ask (homes like it typically land between $1.49M and $1.67M).
Why $1.59M. The typical detached home sold in King City over the past year went for about $2.28M (67 sales). What sets this one apart:
- ▼ Lowers it stronglyIts tax bill, which follows the city's own assessment, is $8,272 a year; the typical home sold here pays about $12,600.
- ▼ Lowers itIt is 2,500 to 3,000 sq ft; the typical home sold here is 3,500 to 5,000.
- ▼ Lowers itThe listing presents it as a home to renovate or rebuild.
- ▼ Lowers it slightly5 bedrooms and 3 baths, against 4+1 and 4 typically.
Longer on the market than typical. 228 days on the market against about 43 for homes like it here, and asking 13% above where comparable closings put it.
Total price vs nearby homes. Likely closing about $1.74M, from 17 recent closings in this pocket.
The market behind the math:
About 8.5 months of inventory: 48 detached homes for sale in the area against 17 closings in the last 90 days. Under two months favours sellers, over four favours buyers.
Price per square foot: this home lists at $654/sqft against an area asking average of $851/sqft.
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 17 most comparable recent sales on their own, adjusted for size, beds, baths and lot, point to about $1.89M. 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.
- Premium lot / gardens: lot size and privacy hold value and cannot be changed, verify frontage, depth, and any easements. Value driver
- Development potential: upside only if zoning permits, verify with the city before relying on it. Worth verifying
Read this with carewhy it’s an estimate, not an appraisal
Priced above comparable homes overall, but the price per square foot ($654/sqft) is below the area, so you are paying for extra space rather than a premium.
There were not many closely comparable homes right in King City, so I widened the search to the surrounding area.
Based on 17 comparable homes that sold in King City over the past two years, from 121 closings there.
For sale
For sale
For sale
For sale
For sale
For sale
For sale
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 $1.59M, which is where my estimate comes from.
Per square foot, these ask about $794/sqft; this home lists at $654/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 King: $1.81M in September 2026, down 10% from a year ago, on 183 closings in 12 months.
Line: median sold price, each month averaged with its neighbours and weighted by closings. Bars: closings that month. King 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 | $2.20M | 17 |
| November 2025 | $2.25M | 22 |
| December 2025 | $1.90M | 12 |
| January 2026 | $1.82M | 9 |
| February 2026 | $2.26M | 8 |
| March 2026 | $1.91M | 16 |
| April 2026 | $1.60M | 14 |
| May 2026 | $1.80M | 21 |
| June 2026 | $2.57M | 15 |
| July 2026 | $2.00M | 15 |
| August 2026 | $1.83M | 17 |
| September 2026 | $1.81M | 17 |
Neighbourhood & location
King City, King, 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). King.
Get the full neighbourhood report (schools, parks, transit & safety) →
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 16, 2026); conventional rates run a little higher.
Mortgage amount $1,439,200 · 4.49% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $7,958
- Property tax
- $689
- Condo / maintenance fees
- $0
- Heating
- $0
- Estimated monthly cost
- $8,647
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $32,455
- Estimated closing costs
- $32,455
Plus your down payment of $359,800. 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
- $477,455
- Principal paid down
- $175,844
- Interest paid
- $301,611
- Balance remaining
- $1,263,356
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 numbersThe last 13 whole-home leases in King City signed at a median of $4,884 a month; adjusted to this home for size, beds and baths, and for where rents stood the month each signed, that is $4,762. 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 REALTRON REALTY INC.. MLS®/PropTx.