507 Old Weston Road, Toronto, ON
Weston-Pellam Park, Toronto · MLS® W13597392
About this home
Shovel-Ready Toronto Development Site! Two lots (505 & 507 Old Weston Rd) sold together with all approvals plus full drawings. Start building ASAP. Perfect for builders looking to capitalize on a ready-to-go project in a thriving urban pocket. Builders, Investors, and End Users, take advantage of Provincial and City incentives! Now is the perfect time to obtain two rare vacant lots for development in Toronto's Junction neighbourhood. Plans and approvals for a gorgeous detached 4-Bedroom 6-Bathroom with Built-in Garage and Patio on each lot are ready to go. Ontario government incentives provide buyer to purchase new home and save the HST, plus builder savings of 50% off development charges make this the perfect time to construct a highly desirable dream home. This ideal location is located steps to a variety of transportation options including Eglinton GO and UP Express Stations providing direct links to Union Station, as well as the dedicated St Clair Streetcar track and newly completed Eglinton Crosstown LRT. This amazing family neighbourhood also features great schools, shopping, and restaurant options. With the current existing incentives this is an opportunity not to be missed!
Key facts
- Property type
- Other, Other
- MLS®
- W13597392
- Size
- 2000-2500
- Lot
- 45.79 × 35.19 ft
- Cross streets
- St Clair Ave West & Old Weston Rd
- Property tax
- $2,956 / 2025
- Listing brokerage
- PANORAMA R.E. LIMITED
Heads up: the asking price here sits well below what comparable listings suggest. In this market that usually means it is priced to draw multiple offers, so plan for competition and a final number above asking. I would not put an automatic figure on this one. Tell me you are interested and I will pull the most comparable recent sales and give you a straight answer on what it will really take.
Ask Moe if this price is fairThe assigned public school is Oakwood Collegiate Institute. 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.
The 5 closest of 6 active listings nearby.
See all comparable homesPrice per square foot vs the area average.
Neighbourhood & location
Weston-Pellam Park, 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.
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 $392,800 · 4.14% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $2,096
- Property tax
- $246
- Condo / maintenance fees
- $0
- Heating
- $0
- Estimated monthly cost
- $2,342
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $6,295
- Toronto municipal land transfer tax
- $6,295
- Estimated closing costs
- $12,590
Plus your down payment of $98,200. 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
- $125,768
- Principal paid down
- $50,023
- Interest paid
- $75,744
- Balance remaining
- $342,777
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 PANORAMA R.E. LIMITED. MLS®/PropTx.