505 Caledonia Road, Toronto, ON
Caledonia-Fairbank, Toronto · MLS® W13586010
About this home
CALEDONIA DREAMIN! Where bungalow meets bunga-LOVE. A beautifully updated, detached family home packed with charm, smart upgrades, storage and convenience. Redesigned with an open-concept kitchen, dining and living space that makes family life and entertaining feel effortless, while two main-floor bedrooms are quietly tucked away at the back for added privacy. Finished lower level is a huge bonus, with its own kitchen, full bathroom and built-in Murphy bed! Perfect for guests, extended family, a nanny suite or future income potential. Outside, a private driveway and detached garage offer parking for multiple vehicles (or park in the front and let the kids ride their bikes back and forth!). A bonus backyard studio is ready for crafts, an office, creative projects or simply keeping all your garden gear neatly tucked away. One of Toronto's best-kept west-end secrets, this neighbourhood delivers convenience with a genuine community feel. Minutes to Corso Italia, The Stockyards, Yorkdale and The Junction, you'll find incredible bakeries, neighbourhood restaurants, parks, shopping and transit all within easy reach. Great food. Great neighbours. Great value. Come and get it.
Key facts
- Property type
- Detached, Bungalow
- MLS®
- W13586010
- Bedrooms
- 3 (2 + 1)
- Bathrooms
- 2
- Size
- 700-1100
- Lot
- 31 × 100 ft
- Cross streets
- Caledonia and Eglinton
- Parking
- 1 garage · 4 parking (detached)
- Driveway
- Private
- Basement
- Apartment, Separate Entrance
- Kitchens
- 2 (1 + 1)
- Heating
- Forced Air
- A/C
- Central Air
- Exterior
- Brick
- Foundation
- Block
- Roof
- Asphalt Shingle
- Sewer
- Sewer
- Property tax
- $4,504 / 2026
- Days on market
- 1
- Listing brokerage
- SAGE REAL ESTATE LIMITED
Rooms
open concept · picture window · pot lights
overlooks backyard · closet · wainscoting
open concept · b/i bookcase · crown moulding
tile floor · separate room
overlooks living · above grade window · murphy bed
open concept · backsplash · pass through
open concept · above grade window · tile floor
overlooks backyard · closet · large window
breakfast bar · above grade window · stainless steel appl
Listed at $939,000, this home is about 22% above what comparable homes suggest. The number above is my independent estimate of value, not the asking price.
Priced above comparable homes overall, but the price per square foot ($1,043/sqft) is in line with the area, so you are paying for extra space rather than a premium.
In Caledonia-Fairbank lately, sellers have been getting about 99% of asking and homes sell in about 21 days.
Based on 76 similar homes that recently sold nearby, adjusted for size, beds, and baths.Median of 76 recently sold comparable homes — actual closing prices, not asks — adjusted for size, beds, and baths. The city (MPAC) assessment points to about $962K, higher than the comparables and worth a second look.
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, sold for $915K
- Adjusts to $915K
That comparable adjusts to $915K; the $773K estimate above is the median of all 76 comparables, which is steadier than any single home.This estimate is grounded in actual closing prices from the last 15 months, not asking prices. Lot, condition, and finishes are still my in-person call.
The assigned public school is Fairbank Memorial Community 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. Keith Avenue 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 $773K, median of 76 comparables.
What the listing highlightsThese are claims from the listing. The only way to know for sure is to see it in person, and I am happy to book you a private showing.
- Open-concept layout: modern, sought-after flow. Lifestyle
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 1% above the area average of $1,036/sqft.
0 days faster 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
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: Keith Avenue, about 24 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 22, 2026); conventional rates run a little higher.
Mortgage amount $751,200 · 4.14% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $4,009
- Property tax
- $375
- Condo / maintenance fees
- $0
- Heating
- $0
- Estimated monthly cost
- $4,384
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $15,255
- Toronto municipal land transfer tax
- $15,255
- Estimated closing costs
- $30,510
Plus your down payment of $187,800. 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
- $240,521
- Principal paid down
- $95,665
- Interest paid
- $144,855
- Balance remaining
- $655,535
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 SAGE REAL ESTATE LIMITED. MLS®/PropTx.