278 Caledonia Road, Toronto, ON
Caledonia-Fairbank, Toronto · MLS® W13166576
About this home
278 Caledonia Rd offers an opportunity to own a fully detached bungalow in the wonderful Caledonia-Fairbank neighbourhood. This bright and spacious 2+1 bedroom home features updated finishes, an open-concept living and eat-in kitchen area, plus convenient main floor laundry. Filled with natural light throughout, this turnkey property blends comfort, function, and future potential. The finished basement adds incredible versatility with a separate entrance, additional bedroom, second kitchen, living area, open office space, bathroom, and its own laundry facilities, ideal for an in-law suite or potential rental income. Offering tremendous ROI potential and long-term upside, the property may also offer future laneway house possibilities *see report* Step outside to a fully fenced backyard featuring a large patio area and dedicated garden space perfect for planting fruits and vegetables and creating your own organic home garden. Beautiful perennial flowers, adding charm and colour throughout the seasons. The property also features a detached garage with laneway access. Situated on Caledonia road, the home benefits from priority city snow clearing in the winter and is within a one-minute walk to TTC bus stops on Caledonia Rd and Rogers Rd. Nestled in a tight-knit, family-friendly community just minutes to the Eglinton Crosstown LRT, Allen Expressway, highways, parks, schools, shops, cafés, and restaurants, this charming home delivers exceptional convenience, flexibility, and future opportunity.
Key facts
- Property type
- Detached, Bungalow
- MLS®
- W13166576
- Bedrooms
- 3 (2 + 1)
- Bathrooms
- 2
- Size
- 700-1100
- Lot
- 18 × 127 ft
- Cross streets
- Caledonia Rd & Rogers Rd
- Parking
- 1 garage (detached)
- Driveway
- Lane
- Basement
- Separate Entrance, Finished
- Kitchens
- 2 (1 + 1)
- Heating
- Forced Air
- A/C
- Central Air
- Exterior
- Brick
- Foundation
- Unknown
- Roof
- Asphalt Shingle
- Sewer
- Sewer
- Property tax
- $3,996 / 2026
- Days on market
- 61
- Listing brokerage
- RE/MAX PROFESSIONALS INC.
Listed at $879,000, and my independent estimate is right in line with comparable homes.
In Caledonia-Fairbank lately, sellers get about 100% of asking; homes sell in ~19 days.
Total price vs nearby homes. Fair value about $841K, median of 46 comparables.
How this estimate is builtthe short version
I take the 46 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 $868K, a close match.
What the listing highlights3 points to weigh
Claims from the listing, worth confirming in person. I can book you a private showing.
- Separate entrance / basement suite: rental or in-law income potential, if it is legally registered and retrofit-compliant. Income potential
- Finished basement: added living space, worth checking ceiling height and that the work was permitted. Value driver
- Open-concept layout: modern, sought-after flow. Lifestyle
Schools & getting aroundcatchment and transit
Its public catchment (F H Miller Junior Public School) tests around the provincial average, a steady, family-friendly draw. The full EQAO breakdown is below.
On location, it is moderately walkable, so some daily errands are within reach and for the rest you will likely drive. Rogers Rd at Caledonia Rd is about a 1-minute walk away.
Read this with carewhy it’s an estimate, not an appraisal
The listing states size as a wide range, so the size adjustment is approximate and this estimate is a rough read. I can confirm exact square footage to tighten it.
Based on 46 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 7% below the area average of $1,049/sqft.
60 days longer than the Toronto average (1 days).
View comparable listingsPrice per square foot vs the area average.
Neighbourhood & location
Caledonia-Fairbank, 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: Rogers Rd at Caledonia Rd, about 17 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 23, 2026); conventional rates run a little higher.
Mortgage amount $703,200 · 4.14% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $3,753
- Property tax
- $333
- Condo / maintenance fees
- $0
- Heating
- $0
- Estimated monthly cost
- $4,086
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $14,055
- Toronto municipal land transfer tax
- $14,055
- Estimated closing costs
- $28,110
Plus your down payment of $175,800. 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
- $225,152
- Principal paid down
- $89,553
- Interest paid
- $135,599
- Balance remaining
- $613,647
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.