502 Salem Avenue, Toronto, ON
Dovercourt-Wallace Emerson-Junction, Toronto · MLS® W13477728
About this home
In short
- 502 Salem Ave N - A Rare West-End Gem.
- Offered for the first time in 50 years.
- This cherished, detached two-storey family home sits on a larger 25 x 120-foot lot in the coveted Dovercourt-Wallace Emerson-Junction area.
- Nestled on a quiet, one-way street, this property offers the perfect blend of residential charm and urban pulse-located just steps from the trend-setting energy of...
- Enjoy close proximity to Corso Italia, Bloorcourt, and the Junction. | 502 Salem Ave N is a great opportunity to build equity in a rapidly evolving, vibrant...
502 Salem Ave N - A Rare West-End Gem! Offered for the first time in 50 years! This cherished, detached two-storey family home sits on a larger 25 x 120-foot lot in the coveted Dovercourt-Wallace Emerson-Junction area. Nestled on a quiet, one-way street, this property offers the perfect blend of residential charm and urban pulse-located just steps from the trend-setting energy of Geary Avenue. | THE PROPERTY & POTENTIAL: A genuine blank canvas opportunity for renovators, builders, and savvy investors looking to design a custom dream home or develop a multi-unit property. + In-Law or Rental Potential: Features separate entrances to the main floor, second floor, and basement.+ Laneway Suite Potential: A laneway report is available, highlighting the opportunity to build a secondary dwelling for multi-generational living or maximum rental income. + Rare 10-Car Parking: Includes a detached 3-car garage (two doors on the private driveway, one on the laneway) plus a private driveway that accommodates an additional 7 vehicles. || LIFESTYLE & COMMUNITY: + Unmatched Urban Living: A Walk Score of 83 puts Toronto's best artisanal cafes, craft breweries, and independent boutiques right at your doorstep. + Green Space & Recreation: Minutes from Dovercourt Park (tennis courts, splash pad, and ice rink), Bartlett Parkette, and the Wallace Emerson Community Centre. + Excellent Connectivity: A commuter's dream with three nearby bus routes offering quick connections to the Bloor subway line. Enjoy close proximity to Corso Italia, Bloorcourt, and the Junction. | 502 Salem Ave N is a great opportunity to build equity in a rapidly evolving, vibrant revitalization area. Don't miss your chance to secure a detached foothold in one of the west end's hottest pockets.
Key facts
- Property type
- Detached, 2-Storey
- MLS®
- W13477728
- Bedrooms
- 3+1 (4 total)
- Bathrooms
- 3
- Size
- 1500-2000 sq ft
- Lot
- 25 × 120 ft
- Cross streets
- Davenport & Dovercourt
- Parking
- 3 garage · 10 parking (detached)
- Driveway
- Private, Lane
- Basement
- Separate Entrance
- Kitchens
- 3 (2 + 1)
- Heating
- Forced Air
- A/C
- Central Air
- Exterior
- Brick, Stone
- Foundation
- Concrete
- Roof
- Shingles, Flat
- Sewer
- Sewer
- Property tax
- $5,640 / 2026
- Days on market
- 118
- Listing brokerage
- RIGHT AT HOME REALTY
Rooms
vinyl floor · combined w/living · side door
Vinyl Floor
Vinyl Floor
vinyl floor · side door · w/o to deck
Vinyl Floor
vinyl floor · ceiling fan(s) · w/o to balcony
Vinyl Floor
vinyl floor · combined w/kitchen · side door
hardwood floor · ceiling fan(s)
vinyl floor · ceiling fan(s)
vinyl floor · side door
No automatic estimate is shown here: there is not a deep enough record of recent sales of homes like this one in this neighbourhood to support one.
Considering this property? Request a written price readThe assigned public school is Regal Road Junior Public 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.
Per square foot, these ask about $802/sqft; this home lists at $794/sqft. Size is part of the price story, not just the sticker.
The 4 closest active listings nearby.
See all comparable homesNeighbourhood & location
Dovercourt-Wallace Emerson-Junction, Toronto, ON
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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
Conventional (20%+ down). Best insured 5-year fixed 4.34% via Ratehub.ca (as of October 19, 2026); conventional rates run a little higher.
Mortgage amount $1,112,000 · 4.49% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $6,148
- Property tax
- $470
- Condo / maintenance fees
- $0
- Heating
- $0
- Estimated monthly cost
- $6,618
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $24,275
- Toronto municipal land transfer tax
- $24,275
- Estimated closing costs
- $48,550
Plus your down payment of $278,000. 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
- $368,906
- Principal paid down
- $135,866
- Interest paid
- $233,040
- Balance remaining
- $976,134
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 RIGHT AT HOME REALTY. MLS®/PropTx.