360B Melrose Street, Toronto, ON
Mimico, Toronto · MLS® W13549242
About this home
Rare Permit-Issued Individual Building Lot Opportunity - 360 Melrose lot B. Listing Price Is For One Proposed 25 Ft X 125 Ft Lot Only; Full Two-Lot Package Also Available. Attention Builders, Investors, And End Users. Severance Approved With City-Assigned Address And Building Permit Issued For An Architecturally Distinct Modern/Contemporary Detached Home Designed By The Renowned Contempo Studios, Offering Over 2,100 Sq. Ft. Above Grade And Over 2,950 Sq. Ft. Including Basement. All Architectural Drawings, Working Drawings, And Construction Drawings Have Been Completed And Paid For. Permission To Remove Trees Has Been Granted. Buyer Can Start Construction Right Away With The Major Planning, Design, Severance, Tree, And Permit Work Already Completed. Existing Detached 4-Bedroom Bungalow With Basement Currently On Site, Offering Flexibility To Build A Shovel-Ready Project Now Or Hold And Build Later. Ideal For A Builder, Investor, Or End User Looking To Build A Custom Home In A Convenient Etobicoke Pocket, Minutes To Mimico, The Queensway, Sherway Gardens, Major Highways, Parks, Schools, Transit, And Everyday Amenities. Seller Is An HCRA/Tarion Licensed Builder And Can Build For The Purchaser.
Key facts
- Property type
- Other, Sidesplit 4
- MLS®
- W13549242
- Lot
- 25 × 125 ft
- Cross streets
- Royal York/Evans Ave
- Heating
- Forced Air
- Sewer
- Sewer
- Property tax
- $5,678 / 2026
- Days on market
- 7
- Listing brokerage
- REALTY ONE GROUP FLAGSHIP
Rooms
Listed at $998,000, this home is within the range of a wider set of listings, but with few close matches nearby, so worth confirming with a precise CMA. The number above is my independent estimate of value, not the asking price.
This listing did not confirm square footage, so I compared on beds, baths, and location instead of size. Confirm the size to sharpen this.
There are only a few closely comparable homes right here, so this is a broad read from wider listings in the area. Ask me for a precise CMA before relying on it.
Based on 96 similar homes nearby, adjusted for beds and baths.Median of 96 comparable active listings, adjusted for beds and baths. The city (MPAC) assessment points to about $1.24M, higher than the comparables and worth a second look. The comparable range is wide here, so treat this as a rough read until I run a full CMA.
How I got there
Here is the exact math behind the estimate. I start from the closest comparable listing and adjust for the real differences (size, beds, baths) to land on a like-for-like value for this home.
- Closest comparable, listed at $998K
- Adjusts to $998K
That comparable adjusts to $998K; the $814K estimate above is the median of all 96 comparables, which is steadier than any single home.This uses comparable active listings, not sold prices. Lot, condition, and finishes are my in-person call, and I can run a full CMA with recent solds.
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.
On location, this is a very walkable address with everyday errands close by. Evans Ave at Garroch Pl is about a 1-minute walk away. Walkable, transit-friendly spots tend to hold value and widen your resale pool.
Total price vs nearby homes. Fair value about $814K, median of 96 comparables.
The closest active listings by size, beds, and price, so you can see what this home is up against.
The 5 closest of 8 active listings nearby.
See all comparable homesNot enough sq ft data to place this home on the area price curve.
Neighbourhood & location
Mimico, Toronto, ON
Enter a workplace or destination and we’ll show the door-to-door time by car, transit and bike.
Getting around
Very 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 Google.
Most daily errands can be done on foot.
🚉 Nearest transit: Evans Ave at Garroch Pl, about 77 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 17, 2026); conventional rates run a little higher.
Mortgage amount $798,400 · 4.14% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $4,261
- Property tax
- $473
- Condo / maintenance fees
- $0
- Heating
- $0
- Estimated monthly cost
- $4,734
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $16,435
- Toronto municipal land transfer tax
- $16,435
- Estimated closing costs
- $32,870
Plus your down payment of $199,600. 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
- $255,634
- Principal paid down
- $101,676
- Interest paid
- $153,957
- Balance remaining
- $696,724
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 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 REALTY ONE GROUP FLAGSHIP. MLS®/PropTx.