Welcome to this thoughtfully designed condo offering a bright, spacious, and open-concept layout - perfect for modern city living. Excellent value for both end users and investors alike. The generously sized bedroom features ample closet space and windows to fill the room with natural light. Step outside to your east-facing balcony is ideal for summer. Situated between Cabbage town and The Village, this prime location offers the perfect blend of character, convenience, and commuting. The location is ideal for a strong sense of belonging, with regular social events, a welcoming mix of residents of all ages, and an inclusive, friendly atmosphere that's hard to find in the heart of downtown. You'll also enjoy very low maintenance fees that cover everything - including heat, hydro, water. Just minutes from the Downtown Core, TMU, U of T, The Village, and a variety of top-rated restaurants, cafes, and shops, with easy access to the DVP and Gardiner Expressway. This condo offers the best of downtown living - a vibrant community, full-service amenities, and unbeatable value - all in one exceptional package.
2 bedrooms, 1 bathroom, about 700 sq ft, works out to roughly $699 per square foot. Chat with Zara if you'd like a deeper read on whether this condo fits your budget and timing.
Inside 40 Homewood Ave #2201
Every detail from the listing, in one place.
Type
Condo
Style
Multi-Level
Living space
700-799 sq ftas stated on the listing
Basement
None
Features & systems
Parking & garage
Garage
Yes
Parking spaces
0
Interior
Basement
None
Lot & land
Lot size (sqft)
0
Listing & possession
Property style
Multi-Level
Property class
Condo Apartment
40 Homewood Ave #2201 Price & Sale History
Earlier listings of this property, list-price changes, and the most recent annual property tax on the listing.
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
$2,402
/mo
based on the purchase price of $489,000
$97,800 cash
$391,200 financed
$329,493 total interest
Principal54%$391,200
Interest46%$329,493
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.
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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 1–2 bed homes for sale in Toronto around $489K.
Average days on market32Homes sold in about 32 days on average.
Sale-to-list ratio5185.0%On average, homes sold at or above asking.
Active listings11,636Homes for sale here right now.
Median vs prior 90 days−0.2%Compared with May 8 – Aug 6, 2026: prices down.
Based on 9,142 sales from Aug 6 – Nov 4, 2026 (7,119 in the prior 90 days). Aggregate MLS® figures for closed sales; individual sold prices are shown only to signed-in members.
More in this building
3 for sale · 1 for rent at 40 Homewood Ave — plus its sale and lease history.
40 Homewood Ave #2201 is listed at $489,000 (MLS® C12898076). Summitly updates the price as soon as the MLS® record changes.
Is $489,000 a good price for 40 Homewood Ave #2201?
Summitly rates it Excellent Deal: the asking price is 10% or more below 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 40 Homewood Ave #2201 changed?
Yes — it was first listed at $550,000 and is now $489,000, a drop of $61,000 (11.1%).
How many bedrooms and bathrooms does 40 Homewood Ave #2201 have?
40 Homewood Ave #2201 has 2 bedrooms and 1 bathroom, with about 700–799 square feet of living space. It is a condo in Toronto.
Is 40 Homewood Ave #2201 close to transit?
The nearest rapid-transit station is Wellesley Station (Line 1), about 680 m (about a 9-minute walk) in a straight line. College Station is about 710 m (about a 9-minute walk), and Sherbourne Station is about 900 m (about a 11-minute walk). Distances are straight-line, not walking routes; check the transit agency for routes and schedules.
How much would the monthly mortgage be on 40 Homewood Ave #2201?
About $2,402 a month — principal and interest on $489,000 with 20% down ($97,800), 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 40 Homewood Ave #2201 compare with other homes in Toronto?
Its asking price of $489,000 is about 42% below the median sold price in Toronto over the last 90 days, $840,000, across 9,142 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 40 Homewood Ave #2201 been sold before?
Summitly has no earlier MLS® sale or lease of 40 Homewood Ave #2201 on record from the last two years. Older records aren't shown under TRREB rules.
Where is 40 Homewood Ave #2201?
40 Homewood Ave #2201 is in Toronto, ON. Schools, transit, parks and shops nearby are under Location & lifestyle on this page.
How long has 40 Homewood Ave #2201 been on the market?
231 days — 40 Homewood Ave #2201 was listed on March 18, 2026.
What is the price per square foot of 40 Homewood Ave #2201?
About $612 to $699 per square foot: the asking price of $489,000 over the 700–799 sq ft the listing gives as its size range.
Does 40 Homewood Ave #2201 have parking or a garage?
