185 Steeles Ave E is a 4-bedroom, 5-bathroom detached home in Toronto, listed for $1,588,000. It has 1500-2000 sq ft of living space.
1Unlock the incredible potential of this expansive **67 x 120.75 Ft Lot** with excellent exposure on Steeles Avenue in a highly desirable Toronto location.
2BasementFinished, Separate Entrance, as described in the listing.
**Exceptional Investment & Redevelopment Opportunity in Prime Newton brook East!** Attention Investors, Builders & Developers! Unlock the incredible potential of this expansive **67 x 120.75 Ft Lot** with excellent exposure on Steeles Avenue in a highly desirable Toronto location. Currently configured as **5 income-generating rental units**, this property produces approximately **$7,000-$8,000 in monthly rental income**, offering immediate cash flow while planning your next development project.**Outstanding redevelopment potential for minimum 4-storey, 16-unit purpose-built rental building**, subject to municipal approvals and verification with the City of Toronto.50 foot lot has been granted same recently on Steeles Ave E. An excellent opportunity to explore **CMHC financing programs**, including MLI Select, for qualifying rental developments. Renovated in 2019 with numerous upgrades, the existing property offers flexible residential and potential professional office uses, a spacious driveway accommodating up to 7 vehicles, and a detached garage.**Invest Today, Generate Income Tomorrow & Build for the Future!** Whether you're looking to expand your rental portfolio, develop a multi-residential income property, or secure a strategic land investment in Toronto, this property offers tremendous long-term potential. **Rare Opportunity to Acquire a Large Income-Producing Lot with Significant Redevelopment Upside!***Buyer and Buyer's Agent to conduct their own due diligence regarding zoning, permitted uses, development potential, All development concepts are subject to City of Toronto approval.*
4 bedrooms, 5 bathrooms, about 1,500 sq ft, works out to roughly $1,059 per square foot, the bed-to-bath ratio is generous. Chat with Zara if you'd like a deeper read on whether this detached fits your budget and timing.
Inside 185 Steeles Ave E
Every detail from the listing, in one place.
Type
Detached
Style
1 1/2 Storey
Living space
1500-2000 sq ftas stated on the listing
Lot size
67.00 x 120.75 Feet
Parking
8 spacesYes garage
Basement
Finished, Separate Entrance
Features & systems
Parking & garage
Garage
Yes
Parking spaces
8
Interior
Basement
Finished · Separate Entrance
Lot & land
Lot dimensions
67.00 x 120.75 Feet
Lot size (sqft)
0
Listing & possession
Property style
1 1/2 Storey
Property class
Detached
185 Steeles Ave E Price & Sale History
Earlier listings of this property, list-price changes, and the most recent annual property tax on the listing.
For saleListedThis listingMLS® C14171514$1,588,000
Sourced from MLS®. Includes earlier listings of this property on record.
What's it worth?
How 185 Steeles Ave E Compares to the Toronto Market
Zara compares it with recent sales of similar homes nearby. It's a guide, not an appraisal.
Independent mortgage broker · OAC · rates subject to change and underwritingMortgage Squad →
Referral disclosure: Summitly may refer you to Mortgage Squad Advisors, an affiliated mortgage partner. You are free to choose any lender or mortgage professional.
Monthly cost
Enter a rate to see the monthly cost
An estimate, not a quote. Utilities and insurance are extra.
Affordability calculator
Estimated monthly payment
$7,801
/mo
based on the purchase price of $1,588,000
$317,600 cash
$1,270,400 financed
$1,070,010 total interest
Principal54%$1,270,400
Interest46%$1,070,010
20% down · 25-yr amortization · 5.50% rate. Principal & interest only — taxes, condo fees, and insurance not included.
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Figures are Summitly estimates for illustration only — not from TRREB or the MLS® feed, and not a mortgage approval, appraisal, or financial advice.
Rental income potential
Est. monthly rent
low–high
Gross yield
rent × 12 ÷ price
Cap rate (est.)
net of tax + fees
Summitly AI estimate for discussion only — not from TRREB or the MLS® feed, and not an appraisal or investment advice. Yield and cap rate are derived from the estimated rent versus the asking price.
For homeowners nearby
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Mortgage financing is arranged through Mortgage Squad Advisors. Summitly is the technology platform that powers this site. Estimated values, AI insights, calculator results, and rental projections shown on this page are generated by Summitly and are not provided by, reviewed by, or sourced from TRREB, the MLS®, or the listing brokerage; they are not appraisals or opinions of value. The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by the Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The Coldwell Banker® name and logo are trademarks of Coldwell Banker Real Estate LLC.
Similar homes for sale nearby in Toronto
Other 3–5 bed homes for sale in Toronto around $1.6M.
Average days on market32Homes sold in about 32 days on average.
Sale-to-list ratio5116.9%On average, homes sold at or above asking.
Active listings13,469Homes for sale here right now.
Median vs prior 90 days−0.6%Compared with May 15 – Aug 13, 2026: prices down.
Based on 9,266 sales from Aug 13 – Nov 11, 2026 (7,225 in the prior 90 days). Aggregate MLS® figures for closed sales; individual sold prices are shown only to signed-in members.
Questions About 185 Steeles Ave E
How much is 185 Steeles Ave E listed for?
185 Steeles Ave E is listed at $1,588,000 (MLS® C14171514). Summitly updates the price as soon as the MLS® record changes.
Is $1,588,000 a good price for 185 Steeles Ave E?
Summitly rates it Well Above Market: the asking price is 15% or more above Zara's estimate, an estimate built from recent sales in Toronto. The rating is an automated opinion, not an appraisal; "What's it worth?" on this page shows how it is worked out. See Zara's estimate
Has the price of 185 Steeles Ave E changed?
No — 185 Steeles Ave E is still listed at its original asking price of $1,588,000.
How many bedrooms and bathrooms does 185 Steeles Ave E have?
185 Steeles Ave E has 4 bedrooms and 5 bathrooms, with about 1,500–2,000 square feet of living space. It is a detached home in Toronto.
How much would the monthly mortgage be on 185 Steeles Ave E?
About $7,801 a month — principal and interest on $1,588,000 with 20% down ($317,600), a 25-year amortization and an assumed 5.5% interest rate. The mortgage calculator on this page lets you change the down payment, amortization and rate.
How does 185 Steeles Ave E compare with other homes in Toronto?
Its asking price of $1,588,000 is about 89% above the median sold price in Toronto over the last 90 days, $840,000, across 9,266 closed sales on the TRREB MLS®. A city median mixes every type and size of home, so the comparable sales on this page are the closer guide.
Has 185 Steeles Ave E been sold before?
Summitly has no earlier MLS® sale or lease of 185 Steeles Ave E on record from the last two years. Older records aren't shown under TRREB rules.
Where is 185 Steeles Ave E?
185 Steeles Ave E is in Toronto, ON. Schools, transit, parks and shops nearby are under Location & lifestyle on this page.
How long has 185 Steeles Ave E been on the market?
185 Steeles Ave E was listed today (November 11, 2026).
What is the price per square foot of 185 Steeles Ave E?
About $794 to $1,059 per square foot: the asking price of $1,588,000 over the 1,500–2,000 sq ft the listing gives as its size range.
Does 185 Steeles Ave E have parking or a garage?
Yes — the listing gives 8 parking spaces. Garage: Yes.
Does 185 Steeles Ave E have a basement, and is it finished?
The listing describes the basement as: Finished, Separate Entrance.
