586 Browns Line, Toronto, ON
Alderwood, Toronto · MLS® W13682366
About this home
Public Remarks Draft Prime Corner Lot Opportunity in the Heart of Alderwood. Situated at the prominent intersection of Browns Line and Mitcham Drive, this well-maintained bungalow offers a unique footprint in one of Toronto's high-growth neighborhoods. Having served as a staple of the community for over 25 years as a professional office, this property presents a versatile foundation for its next chapter as a custom residential renovation, a convenient live-work environment, or a potential redevelopment site. Substantial Interior Footprint: The property features approximately 2,100 square feet of total finished space across two functional levels. Main Floor (1,102 Sq Ft): Includes a bright, spacious front reception/living area, four generously sized rooms, a central utility/media room, and a washroom. Lower Level (1,000 Sq Ft): A fully renovated basement featuring a large boardroom/recreation room, an additional private room, a kitchenette, and a 3-piece bathroom. Flexible Utility: The lower level is further enhanced by an expansive, highly versatile area currently utilized for large-scale storage and administrative needs, offering immense potential for various home or hobby configurations. Site & Strategic Location: Exceptional Land Area: A significant 4,198 square foot corner lot providing excellent presence and accessibility. Parking & Access: Includes 4 dedicated surface parking spaces on-site. Regional Connectivity: Unparalleled access to the QEW, Highway 427, and the Gardiner Expressway. Minutes from CF Sherway Gardens, local schools, and a host of essential retail amenities. Property will be delivered vacant upon possession.
Key facts
- Property type
- Detached, Bungalow
- MLS®
- W13682366
- Bedrooms
- 7
- Bathrooms
- 3
- Size
- 1100-1500
- Lot
- 56.48 × 125.17 ft
- Cross streets
- Browns Line / Evans Ave
- Parking
- 4 parking
- Driveway
- Available, Front Yard Parking
- Basement
- Finished with Walk-Out, Full
- Heating
- Forced Air
- A/C
- Central Air
- Exterior
- Brick, Concrete
- Foundation
- Unknown
- Roof
- Shingles
- Sewer
- Sewer
- Property tax
- $4,193 / 2025
- Listing brokerage
- RE/MAX PROFESSIONALS INC.
Listed at $1,089,000, and my independent estimate is tracking about 14% below a wider set of listings, though close matches were thin, so it is worth confirming with a precise CMA rather than reading it as a clear deal.
Total price vs nearby homes. Fair value about $1.26M, median of 7 comparables.
- Walk-out basement. Extra light, usable space, and income potential, so the estimate is a conservative floor for it.
How this estimate is builtthe short version
I take the 7 most comparable recent sales nearby and adjust each one to this home for the real differences (size, beds, baths, garage, and standout features), then use the median, which is steadier than leaning on any single sale.
It’s grounded in recent closing prices, not asking prices. Lot, condition, and finishes are my in-person call, and the city (MPAC) assessment points to about $907K, lower than the comparables and worth a second look.
What the listing highlights3 points to weigh
Claims from the listing, worth confirming in person. I can book you a private showing.
- Renovated / rebuilt: recent work can mean fewer upfront costs, worth confirming the scope, quality, and that permits were pulled. Value driver
- Development potential: upside only if zoning permits, verify with the city before relying on it. Worth verifying
- Corner lot: more light and frontage, sometimes at the cost of privacy. Weigh carefully
Schools & getting aroundcatchment and transit
Its public catchment (Sir Adam Beck Junior School) tests around the provincial average, a steady, family-friendly draw. The full EQAO breakdown is below.
Read this with carewhy it’s an estimate, not an appraisal
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 7 comparable homes that recently sold nearby.
This home lists 13% below the area average of $959/sqft.
View comparable listingsPrice per square foot vs the area average.
Neighbourhood & location
Alderwood, 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 4.09% via Ratehub.ca (as of August 17, 2026); conventional rates run a little higher.
Mortgage amount $871,200 · 4.24% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $4,697
- Property tax
- $349
- Condo / maintenance fees
- $0
- Heating
- $0
- Estimated monthly cost
- $5,046
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $18,255
- Toronto municipal land transfer tax
- $18,255
- Estimated closing costs
- $36,510
Plus your down payment of $217,800. 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
- $281,804
- Principal paid down
- $109,647
- Interest paid
- $172,157
- Balance remaining
- $761,553
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 RE/MAX PROFESSIONALS INC.. MLS®/PropTx.