507 Salem Avenue, Toronto, ON
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Property Highlights
Welcome to this remarkable 2-Storey detached located in the coveted neighborhood of Dovercourt-Wallace Emerson-Junction. Expertly crafted featuring premium aluminum siding and brick construction, this residence presents an exceptional opportunity offered at $1,250,000 to acquire a beautiful home in a highly sought-after setting. Designed for both comfortable daily living and elegant entertaining, the layout maximizes natural light, functional flow, and lifestyle utility.
- 3 Bedrooms and 3 Bathrooms with 2 functional kitchens
- Generous living space spanning 1100-1500 sqft on a premium 20 x 126 ft lot
- Features a finished with walk-out basement, adding superb versatility for recreation, a home gym, or extra storage
- 2.0 total parking spaces available with a convenient detached configuration
- Notable attributes: In-Law Capability
- equipped with central air central cooling and highly efficient forced air heating via gas
Description
Welcome to this fully detached 3 bedroom, 3 bathroom home in the highly sought-after Dovercourt neighbourhood. This beautiful home offers hints of original character & charm throughout and has been cared for by the same family for many years. From the moment you walk in, you'll notice the meticulous upkeep and the warm, inviting atmosphere that makes this home truly special. Perfect for growing families, the home offers a generous living space plus a finished basement with a separate entrance, complete with a kitchen, full bathroom, cantina, and laundry - ideal for extended family or potential rental income. The property features a laneway with exciting possibilities. Currently, there is a one-car garage, but there is potential to build a two-car garage or even a two-storey laneway house (laneway house report available). Located just steps from trendy Geary Avenue, you'll have access to wonderful bakeries, coffee shops, independent breweries, and fantastic eateries. Families will enjoy being close to wonderful schools and within walking distance to Earlscourt Park, Dovercourt Park, and several smaller green spaces. The brand-new Wallace Emerson Community Centre (over 80,000 sq ft) is also nearby at Dupont and Dufferin. This vibrant neighborhood boasts excellent schools and easy access to transit. You're close to the Bloor subway line and only a short commute to downtown Toronto.
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This could be the first listing for this address.
Pricing & Value Insights
Data-driven valuation for 507 Salem Avenue N, Toronto W02, ON M6H 3C9
Based on 0 recent similar sales in the pocket.
Properties in this area are selling at a steady pace.
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About Purchasing a Home in Toronto, ON
For a property listed at $1,250,000 in Toronto, the legal minimum down payment is $250,000 under current Canadian banking regulations. This calculation applies a 5% requirement on the first $500,000, 10% on the next $499,999, and a flat 20% on any amount exceeding $1,000,000.
Additionally, buyers in Ontario must budget for the Provincial Land Transfer Tax, which is estimated at $21,475 for this transaction. Since the property is located in Toronto, a municipal land transfer tax of $21,475 also applies, bringing the total estimated land transfer taxes to $42,950.
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Disclaimer: AI Insights are generated by an automated system and should be used for informational purposes only. While we strive for accuracy using current market data and deep-learning models, these assessments do not constitute professional real estate, legal, or financial advice. All property values, predictions, and scores are estimates. We strongly recommend verifying all property details and conducting independent due diligence with a licensed professional before making any purchase decisions.
