40 Cowley Avenue, Toronto, ON
Islington-City Centre West, Toronto · MLS® W13143314
About this home
Welcome to 40 Cowley Avenue - a rare opportunity to own a spacious, fully renovated and expanded detached home on a premium 75 x 85 ft lot in Toronto's desirable west end. Thoughtfully updated for modern living, this versatile home offers approximately 2,000 sq ft of living space plus a fully finished basement, with 4+2 bedrooms and 4+1 bathrooms designed to comfortably accommodate growing families, multi-generational living, or those simply looking for more space and flexibility. Inside, you'll find generous principal rooms, modern upgrades, and a functional layout that balances everyday comfort with long-term practicality. The finished basement with separate entrance provides excellent additional living space for extended family, guests, or additional rental income. One of the home's standout features is the large loft area above the garage with separate entrance and separate heating and cooling - ideal as a home office, studio, gym, creative space, additional family living area, or additional rental income. Outside, the spacious patio and backyard offer plenty of room for entertaining, relaxing, gardening, or creating your own outdoor retreat. Parking for up to 5 vehicles adds rare convenience in this location. Located in the family-friendly and prestigious Glen Park neighborhood close to parks, schools, shopping, transit, and major routes, this is a unique opportunity to own a move-in ready home with exceptional space and flexibility in a strong Toronto community. A rare combination of lot size, updated living space, and versatility in a sought-after west-end location.
Key facts
- Property type
- Detached, 2-Storey
- MLS®
- W13143314
- Bedrooms
- 6 (4 + 2)
- Bathrooms
- 5 (1 half)
- Size
- 1500-2000
- Lot
- 75 × 85 ft
- Cross streets
- Burnhamthrope and Martin Grove
- Parking
- 1 garage · 5 parking (attached)
- Driveway
- Private Double
- Basement
- Apartment, Finished, Finished with Walk-Out, Separate Entrance
- Kitchens
- 2 (1 + 1)
- Heating
- Forced Air
- A/C
- Central Air
- Exterior
- Brick
- Foundation
- Concrete
- Roof
- Asphalt Shingle
- Sewer
- Sewer
- Property tax
- $5,920 / 2025
- Days on market
- 65
- Listing brokerage
- RE/MAX PROFESSIONALS INC.
Rooms
b/i shelves · closet
Double Closet
renovated · family size kitchen · walk-out
3 pc bath · b/i shelves
2 Pc Bath
b/i appliances · backsplash · stainless steel appl
4 pc bath · renovated
combined w/laundry · laundry sink
W/O To Sundeck
balcony · w/o to balcony
4 Pc Bath
W/O To Sundeck
balcony · w/o to balcony
Fireplace
closet · 3 pc ensuite
Heads up: the asking price here sits well above what comparable listings suggest. That can point to premium finishes, a bigger lot, or simply an ambitious ask, so it is worth a close look before you offer. I would not put an automatic figure on this one. Tell me you are interested and I will pull the most comparable recent sales and give you a straight answer on what it will really take.
Ask Moe if this price is fairWorth noting: this home has a walk-out basement, a premium feature (light, usable space, income potential) that comparable-sales math tends to under-price. I will factor it in when I pull your comparables.
The assigned public school is Bloorlea Middle School. EQAO is only one input, and families here also look at French Immersion, boundary, and private options, the full breakdown is below.
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 35% above the area average of $836/sqft.
64 days longer than the Toronto average (1 days).
View comparable listingsPrice per square foot vs the area average.
Neighbourhood & location
Islington-City Centre West, 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
Homes over $1.5M can't be insured, so 20% down or more is required.
Conventional (20%+ down). Best insured 5-year fixed 3.99% via Ratehub.ca (as of July 23, 2026); conventional rates run a little higher.
Mortgage amount $1,580,000 · 4.14% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $8,431
- Property tax
- $493
- Condo / maintenance fees
- $0
- Heating
- $0
- Estimated monthly cost
- $8,925
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $35,975
- Toronto municipal land transfer tax
- $35,975
- Estimated closing costs
- $71,950
Plus your down payment of $395,000. 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
- $505,888
- Principal paid down
- $201,213
- Interest paid
- $304,675
- Balance remaining
- $1,378,787
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 PROFESSIONALS INC.. MLS®/PropTx.