357B Melrose Street, Toronto, ON
Mimico, Toronto · MLS® W13460580
About this home
In short
- Experience exceptional custom-built luxury where every detail has been thoughtfully designed & expertly crafted.
- The stunning open-concept main floor is highlighted by soaring ceilings, contemporary finishes & an impressive chef-inspired kitchen complete with a Bertazzoni gas...
- Offering 5 spacious bedrooms & 4 beautifully appointed bathrooms, the home blends elegance with everyday functionality.
- Enjoy integrated speakers & a smart security system, upper-level laundry & a luxurious primary retreat featuring a spa-inspired 5-piece ensuite with a steam shower &...
- The fully finished lower level offers 13-ft ceilings in the bedroom, 11-ft ceilings in the main living area, in-floor heating throughout, a wet bar & a...
Experience exceptional custom-built luxury where every detail has been thoughtfully designed & expertly crafted. Featuring premium imported Italian windows, custom Italian cabinetry, Italian quartz surfaces, Italian bathroom vanities & custom Italian interior doors with premium hardware, flush-mount hinges & magnetic latch systems, this home showcases quality at every turn. The stunning open-concept main floor is highlighted by soaring ceilings, contemporary finishes & an impressive chef-inspired kitchen complete with a Bertazzoni gas range & premium Miele appliances.Offering 5 spacious bedrooms & 4 beautifully appointed bathrooms, the home blends elegance with everyday functionality. Enjoy integrated speakers & a smart security system, upper-level laundry & a luxurious primary retreat featuring a spa-inspired 5-piece ensuite with a steam shower & soaker tub.The fully finished lower level offers 13-ft ceilings in the bedroom, 11-ft ceilings in the main living area, in-floor heating throughout, a wet bar & a floor-to-ceiling walkout to the south-facing backyard. Designed to maximize natural light & openness, this bright, spacious & versatile space is ideal for an in-law or nanny suite.Outdoor living is equally impressive with a fully fenced backyard, oversized patio & upper-level deck, creating the perfect setting for entertaining family & friends. The property also offers parking for 4 vehicles.Situated in 1 of the area's most desirable lakeside communities, this exceptional residence offers the perfect balance of luxury & convenience, just minutes from downtown & the airport. Enjoy walking access to local favourites, village amenities, transit & waterfront attractions. This is a rare opportunity to own a truly remarkable home in a sought-after family-friendly neighbourhood.
Key facts
- Property type
- Detached, 2-Storey
- MLS®
- W13460580
- Bedrooms
- 4+1 (5 total)
- Bathrooms
- 4 (1 half)
- Size
- 2000-2500 sq ft
- Lot
- 25 × 125 ft
- Cross streets
- Royal York Road & Melrose St
- Parking
- 1 garage · 4 parking (attached)
- Driveway
- Private Double
- Basement
- Finished, Full
- Heating
- Forced Air
- A/C
- Central Air
- Exterior
- Brick
- Foundation
- Poured Concrete
- Roof
- Asphalt Shingle
- Sewer
- Sewer
- Property tax
- $7,500 / 2025
- Days on market
- 120
- Listing brokerage
- Royal LePage Real Estate Associates
Rooms
Fireplace
2 Pc Bath
5 Pc Ensuite
4 Pc Bath
b/i appliances · stainless steel appl · b/i oven
w/o to patio · wet bar
Listed at $1,798,000. Going by how homes in Mimico and the wider GTA have actually closed against their asking prices (about 98%, 16 local closings in 90 days), the likely sale price is near $1.77M, if it sells. A realistic range is $1.66M to $1.99M.
Independent value check: $1.80M. Without looking at the asking price, our model values the home itself in line with the ask (homes like it typically land between $1.68M and $1.88M).
Why $1.80M. The typical detached home sold in Mimico over the past year went for about $1.25M (76 sales). What sets this one apart:
- ▲ Raises it stronglyIts tax bill, which follows the city's own assessment, is $7,500 a year; the typical home sold here pays about $5,400.
- ▲ Raises itIt is 2,000 to 2,500 sq ft; the typical home sold here is 1,100 to 1,500.
- ▲ Raises it4+1 bedrooms and 4 baths, against 3+1 and 2 typically.
- ▲ Raises it slightlyThe listing describes it as fully renovated or newly built.
Total price vs nearby homes. Likely closing about $1.77M, from 16 recent closings in this pocket.
The market behind the math:
About 1.3 months of inventory: 7 detached homes for sale in the area against 16 closings in the last 90 days. Under two months favours sellers, over four favours buyers.
Price per square foot: this home lists at $799/sqft against an area asking average of $1,033/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 16 most comparable recent sales on their own, adjusted for size, beds, baths and lot, point to about $1.63M. 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.
- Upscale kitchen: a genuine value driver, verify the appliances, stone, and finishes in person. Value driver
- Tall ceilings: they transform how a home feels, worth confirming the actual heights room to room. Worth verifying
- Open-concept layout: modern, sought-after flow. Lifestyle
Schools & getting aroundcatchment and transit
The assigned public school is George R Gauld Junior School. 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 Mimico, so I widened the search to the surrounding area.
Based on 16 comparable homes that sold in Mimico over the past two years, from 153 closings there.
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 $1.80M, which is where my estimate comes from.
Per square foot, these ask about $851/sqft; this home lists at $799/sqft. Size is part of the price story, not just the sticker.
The 3 closest active listings nearby.
See all comparable homesSold price trend
Median sold price for detached homes in Mimico: $1.45M in September 2026, up 4% from a year ago, on 65 closings in 8 months.
Line: median sold price, each month averaged with its neighbours and weighted by closings. Bars: closings that month.
Month by month
| Month | Median sold | Closings |
|---|---|---|
| February 2026 | $1.47M | 6 |
| March 2026 | $1.02M | 8 |
| April 2026 | $1.06M | 13 |
| May 2026 | $1.30M | 13 |
| June 2026 | $1.27M | 5 |
| July 2026 | $1.19M | 8 |
| August 2026 | $1.10M | 7 |
| September 2026 | $1.45M | 5 |
Neighbourhood & location
Mimico, 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
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 17, 2026); conventional rates run a little higher.
Mortgage amount $1,438,400 · 4.49% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $7,953
- Property tax
- $625
- Condo / maintenance fees
- $0
- Heating
- $0
- Estimated monthly cost
- $8,578
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $32,435
- Toronto municipal land transfer tax
- $32,435
- Estimated closing costs
- $64,870
Plus your down payment of $359,600. 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
- $477,190
- Principal paid down
- $175,746
- Interest paid
- $301,444
- Balance remaining
- $1,262,654
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 10 whole-home leases in Mimico signed at a median of $5,695 a month; adjusted to this home for size, beds and baths, and for where rents stood the month each signed, that is $5,730. 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 Royal LePage Real Estate Associates. MLS®/PropTx.