71 Emerson Avenue, Toronto, ON
Dovercourt-Wallace Emerson-Junction, Toronto · MLS® W13853324
About this home
In short
- Emerson Excellence, Exceptional Income, Endless Possibilities.
- The detached garage at the rear offers even more flexibility-use it as a shed, workshop or studio today, with potential for a future garden suite conversion.
- Whether you're looking for a strong income-producing investment, a multi-generational home, or a place to live while offsetting your mortgage with rental income, 71...
Emerson Excellence, Exceptional Income, Endless Possibilities! Welcome to 71 Emerson Ave, a vacant, detached, fully renovated LEGAL triplex with three separate hydro meters in an unbeatable location. A fantastic opportunity for investors, multi-generational families, or end-users looking to live in one unit while collecting rent from the others. Each self-contained unit features its own private entrance, with the main and second-floor suites also offering their own laundry. The property is truly turn-key and move-in or rent-ready, complete with updated finishes and brand-new central air conditioning. A private driveway currently provides parking for two cars, with the potential for additional parking by removing the existing fence. The detached garage at the rear offers even more flexibility-use it as a shed, workshop or studio today, with potential for a future garden suite conversion. Ideally situated within walking distance to Lansdowne Subway Station, Bloor West, schools, shops, restaurants, parks and everyday amenities. Whether you're looking for a strong income-producing investment, a multi-generational home, or a place to live while offsetting your mortgage with rental income, 71 Emerson offers incredible versatility in one of Toronto's most convenient neighbourhoods.
Key facts
- Property type
- Detached, 2 1/2 Storey
- MLS®
- W13853324
- Bedrooms
- 3+1 (4 total)
- Bathrooms
- 4
- Size
- 1500-2000 sq ft
- Lot
- 25 × 102 ft
- Cross streets
- Lansdowne/Bloor
- Parking
- 1 garage · 3 parking (detached)
- Driveway
- Private
- Basement
- Apartment, Finished with Walk-Out
- Kitchens
- 3 (2 + 1)
- Heating
- Forced Air
- A/C
- Central Air
- Exterior
- Brick, Vinyl Siding
- Foundation
- Concrete
- Roof
- Asphalt Shingle
- Sewer
- Sewer
- Property tax
- $6,289 / 2025
- Days on market
- 17
- Listing brokerage
- FOREST HILL REAL ESTATE INC.
Rooms
window · hardwood floor · open concept
hardwood floor · window · open concept
Tile Floor
breakfast bar · stainless steel appl · pot lights
walk-in closet(s) · window · hardwood floor
separate room · pot lights · window
pot lights · combined w/dining · open concept
closet · hardwood floor · pot lights
open concept · pot lights · combined w/living
double closet · window · hardwood floor
hardwood floor · pot lights · open concept
open concept · tile floor · b/i shelves
hardwood floor · window · stainless steel appl
window · hardwood floor · open concept
closet · hardwood floor · window
Listed at $1,549,000. Going by how homes in Dovercourt-Wallace Emerson-Junction and the wider GTA have actually closed against their asking prices (about 98%, 11 local closings in 90 days), the likely sale price is near $1.52M, if it sells. A realistic range is $1.42M to $1.71M.
Independent value check: $1.56M. Without looking at the asking price, our model values the home itself in line with the ask (homes like it typically land between $1.47M and $1.64M).
Why $1.56M. The typical detached home sold in Dovercourt-Wallace Emerson-Junction over the past year went for about $1.33M (58 sales). What sets this one apart:
- ▲ Raises itThe listing describes it as fully renovated or newly built.
- ▲ Raises it3+1 bedrooms and 4 baths, against 3+1 and 3 typically.
Total price vs nearby homes. Likely closing about $1.52M, from 11 recent closings in this pocket.
The market behind the math:
About 4.1 months of inventory: 15 detached homes for sale in the area against 11 closings in the last 90 days. Under two months favours sellers, over four favours buyers.
Price per square foot: this home lists at $885/sqft against an area asking average of $906/sqft.
- Walk-out basement apartment features. A finished 1 bed walk-out basement apartment with a second kitchen. A self-contained space for extended family, guests or potential income. Basements do rent in Dovercourt-Wallace Emerson-Junction: 37 of the 177 detached leases here lately were basement units, around $1,800 a month. That makes the suite real income. Second-suite retrofit status is not verified. A buyer intending to rent should confirm requirements with the City of Toronto.
How this estimate is builtthe short version
This figure comes from a model built on about 44,000 recent GTA sales. It weighs this home’s tax assessment, size, age, location and features against what homes like it actually sold for, including sales in this neighbourhood.
It never sees the asking price. The 11 most comparable recent sales on their own, adjusted for size, beds, baths and lot, point to about $1.22M. Condition and finishes remain an in-person call.
What the listing highlights2 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
- Garden / laneway suite potential: extra-unit upside, but confirm zoning and feasibility with the city. Worth verifying
Schools & getting aroundcatchment and transit
The assigned public school is Pauline 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.
Read this with carewhy it’s an estimate, not an appraisal
There were not many closely comparable homes right in Dovercourt-Wallace Emerson-Junction, so I widened the search to the surrounding area.
Based on 11 comparable homes that sold in Dovercourt-Wallace Emerson-Junction over the past two years, from 124 closings there.
For sale
For sale
For sale
For sale
For sale
For sale
For sale
For saleNothing closely matching this home is listed nearby right now, so these are the nearest detached listings on the market. Homes like this one have recently closed around $1.56M, which is where my estimate comes from.
Per square foot, these ask about $830/sqft; this home lists at $885/sqft. Size is part of the price story, not just the sticker.
The 5 closest of 8 active listings nearby.
See all comparable homesSold price trend
Median sold price for detached homes in Toronto: $1.20M in September 2026, down 1% from a year ago, on 7,360 closings in 12 months.
Line: median sold price, each month averaged with its neighbours and weighted by closings. Bars: closings that month. Toronto as a whole: the neighbourhood alone has too few closings for a line of its own.
Month by month
| Month | Median sold | Closings |
|---|---|---|
| October 2025 | $1.25M | 739 |
| November 2025 | $1.21M | 596 |
| December 2025 | $1.14M | 384 |
| January 2026 | $1.20M | 285 |
| February 2026 | $1.23M | 453 |
| March 2026 | $1.34M | 580 |
| April 2026 | $1.31M | 776 |
| May 2026 | $1.30M | 861 |
| June 2026 | $1.25M | 772 |
| July 2026 | $1.17M | 684 |
| August 2026 | $1.19M | 552 |
| September 2026 | $1.20M | 678 |
Neighbourhood & location
Dovercourt-Wallace Emerson-Junction, 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.
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
Homes over $1.5M can't be insured, so 20% down or more is required.
Conventional (20%+ down). Best insured 5-year fixed 4.34% via Ratehub.ca (as of October 20, 2026); conventional rates run a little higher.
Mortgage amount $1,239,200 · 4.49% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $6,852
- Property tax
- $524
- Condo / maintenance fees
- $0
- Heating
- $0
- Estimated monthly cost
- $7,376
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $27,455
- Toronto municipal land transfer tax
- $27,455
- Estimated closing costs
- $54,910
Plus your down payment of $309,800. 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
- $411,105
- Principal paid down
- $151,407
- Interest paid
- $259,698
- Balance remaining
- $1,087,793
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
The suite is real income here: basements rent in Dovercourt-Wallace Emerson-Junction (37 of 177 recent detached leases were basement units, around $1,800 a month). The figure above is the whole house on one lease; rented as two units, the suite alone brings about $1,800 a month on top of the upper floors. Permitted use is worth confirming with the city.
Thinking of this home as an investment? We will pull real comparable rents and run the full numbers with you.
Talk about the numbersThe last 15 whole-home leases in Dovercourt-Wallace Emerson-Junction signed at a median of $3,353 a month; adjusted to this home for size, beds and baths, and for where rents stood the month each signed, that is $4,204. The gross yield above is on the asking price, before taxes and upkeep; the cap rate is after them. A finished basement or second suite can push real rent above it. Taxes, fees, and vacancy vary by property, and cap rate is before financing.
Helpful resources
All information deemed reliable but not guaranteed. For personal, non-commercial use only. Listing courtesy of FOREST HILL REAL ESTATE INC.. MLS®/PropTx.