371 Royal York Road, Toronto, ON
Mimico, Toronto · MLS® W14085502
About this home
In short
- Attention Builders, Renovators & Investors.
- Exceptional opportunity on a premium 33.45 x 168 ft lot (approx.
- 6400 sq. ft) along Royal York Road in Etobicoke.
- Property is being sold AS IS, WHERE IS, without representations or warranties by the Seller Or Listing Brokerage regarding the property's condition, systems, zoning...
- An opportunity for builders and investors to explore the potential of this Etobicoke property.
Attention Builders, Renovators & Investors! Exceptional opportunity on a premium 33.45 x 168 ft lot (approx. 6400 sq. ft) along Royal York Road in Etobicoke. CR3 zoning may offer potential for various uses, subject to applicable municipal approvals and buyer verification. Property is being sold AS IS, WHERE IS, without representations or warranties by the Seller Or Listing Brokerage regarding the property's condition, systems, zoning, permitted uses, or redevelopment potential, to the extent permitted by law. Buyers and their representatives are advised to conduct their own independent due diligence and verify all information, measurements, zoning, pe3rmitted uses, and development potential with the appropriate authorities. Conveniently located near TTC, Mimico GO Station, major highways, parks, schools, lakeside trails, shops, and restaurants. An opportunity for builders and investors to explore the potential of this Etobicoke property.
Key facts
- Property type
- Detached, Bungalow
- MLS®
- W14085502
- Bedrooms
- 3+2 (5 total)
- Bathrooms
- 2
- Size
- 700-1100 sq ft
- Lot
- 33.45 × 168 ft
- Cross streets
- Royal York Rd - Portland St
- Parking
- 1 garage (attached)
- Driveway
- Mutual
- Basement
- Apartment
- Kitchens
- 2 (1 + 1)
- Heating
- Forced Air
- A/C
- Central Air
- Exterior
- Brick
- Foundation
- Other
- Roof
- Other
- Sewer
- Sewer
- Property tax
- $3,929 / 2026
- Days on market
- 1
- Listing brokerage
- RE/MAX WEST REALTY INC.
Listed at $1,600,000. Going by how homes in Mimico and the wider GTA have actually closed against their asking prices (about 98%, 16 local closings in 90 days), the likely sale price is near $1.57M, if it sells. A realistic range is $1.47M to $1.77M.
Independent value check: no figure for this home. Going only by the sales record, our model lands more than 25% below the ask. At that distance an automated figure has rarely been close to the eventual sale price, so we are not printing one. The listing describes about 6,400 sq ft, while the size on record is 700 to 1100 sq ft.
Total price vs nearby homes. Likely closing about $1.57M, from 16 recent closings in this pocket.
The market behind the math:
About 2.4 months of inventory: 13 detached homes for sale in the area against 16 closings in the last 90 days. Under two months favours sellers, over four favours buyers.
Price per square foot: this home lists at $1,778/sqft against an area asking average of $1,179/sqft.
- basement apartment features. A finished 2 bed basement apartment with a second kitchen. A self-contained space for extended family, guests or potential income. In Mimico basements rarely rent out (8 of 94 recent detached leases were basement units), so buyers here treat a suite as family or nanny space rather than income. Value it for the living space, not the rent. 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 16 most comparable recent sales on their own, adjusted for size, beds, baths and lot, point to about $833K. 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.
- Development potential: upside only if zoning permits, verify with the city before relying on it. Worth verifying
- Sold as-is / needs work: budget for renovation, the price should reflect the condition. Weigh carefully
Schools & getting aroundcatchment and transit
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.
Read this with carewhy it’s an estimate, not an appraisal
The listing states size as a wide range, so the size adjustment is approximate and this estimate is a rough read. I can confirm exact square footage to tighten it.
There were not many closely comparable homes right in Mimico, so I widened the search to the surrounding area.
Based on 16 comparable homes that sold in Mimico over the past two years, from 153 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 $772K, which is where my estimate comes from.
Per square foot, these ask about $1,098/sqft; this home lists at $1,778/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 Mimico: $1.45M in September 2026, up 4% from a year ago, on 65 closings in 8 months.
Line: median sold price, each month averaged with its neighbours and weighted by closings. Bars: closings that month.
Month by month
| Month | Median sold | Closings |
|---|---|---|
| February 2026 | $1.47M | 6 |
| March 2026 | $1.02M | 8 |
| April 2026 | $1.06M | 13 |
| May 2026 | $1.30M | 13 |
| June 2026 | $1.27M | 5 |
| July 2026 | $1.19M | 8 |
| August 2026 | $1.10M | 7 |
| September 2026 | $1.45M | 5 |
Neighbourhood & location
Mimico, 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 17, 2026); conventional rates run a little higher.
Mortgage amount $1,280,000 · 4.49% over 25 years
Total monthly cost
- Mortgage payment (monthly equivalent)
- $7,077
- Property tax
- $327
- Condo / maintenance fees
- $0
- Heating
- $0
- Estimated monthly cost
- $7,405
Add your own property tax, condo fees, and heating on the left for a sharper total.
One-time closing costs
- Ontario land transfer tax
- $28,475
- Toronto municipal land transfer tax
- $28,475
- Estimated closing costs
- $56,950
Plus your down payment of $320,000. 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
- $424,640
- Principal paid down
- $156,392
- Interest paid
- $268,248
- Balance remaining
- $1,123,608
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
About the suite: in Mimico basements rarely rent out (8 of 94 recent detached leases were basement units), so the figure above does not count it as income. Buyers here use a suite as family or nanny space.
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 16 whole-home leases in Mimico signed at a median of $3,214 a month; adjusted to this home for size, beds and baths, and for where rents stood the month each signed, that is $2,865. 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 RE/MAX WEST REALTY INC.. MLS®/PropTx.