Welcome to Unit 316 at 40 Homewood Ave a bright, well-kept corner 2-bedroom suite offering a rare sense of calm in the heart of downtown Toronto. Floor-to-ceiling windows in every room frame mature trees and bring in beautiful natural light, while updated closet doors and a well-maintained kitchen make this home move-in ready.This exceptionally well-managed building offers a welcoming community and an impressive collection of amenities, including a heated indoor pool, sauna, gym, updated party room and outdoor BBQ area. Maintenance fees include high-speed internet, cable TV and all utilities an added convenience and value. Ideally located minutes from Cabbagetown, Yonge & Bloor, Wellesley and College subway stations, Loblaws, LCBO, TMU and U of T. A little calm in the middle of everything and a move-in-ready opportunity in the heart of Toronto.
2 bedrooms, 1 bathroom, about 600 sq ft, works out to roughly $865 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 #316
Every detail from the listing, in one place.
Type
Condo
Style
Apartment
Living space
600-699 sq ftas stated on the listing
Parking
1 spaceYes garage
Basement
None
Features & systems
Parking & garage
Garage
Yes
Parking spaces
1
Interior
Basement
None
Lot & land
Lot size (sqft)
0
Listing & possession
Property style
Apartment
Property class
Condo Apartment
40 Homewood Ave #316 Price & Sale History
Earlier listings of this property, list-price changes, and the most recent annual property tax on the listing.
For saleListedThis listingMLS® C14135684$519,000
Sourced from MLS®. Includes earlier listings of this property on record.
What's it worth?
How 40 Homewood Ave #316 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
$2,550
/mo
based on the purchase price of $519,000
$103,800 cash
$415,200 financed
$349,707 total interest
Principal54%$415,200
Interest46%$349,707
20% down · 25-yr amortization · 5.50% rate. Principal & interest only — taxes, condo fees, and insurance not included.
Want rate-drop alerts and a saved shortlist?
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
Own a home on Homewood Avenue? See what yours is worth
Get an instant estimate for your own home, based on recent sales around you. A free account shows the number and emails you the full report.
Free · No obligation · Backed by Coldwell Banker
Book a tour of 40 Homewood Ave #316 with a licensed buyer's agent
Your agent is usually paid from the seller's side. We'll confirm the co-operating commission on this listing before you sign anything.
Zara, any time
Zara · AI virtual agent
Ask about 40 Homewood Ave #316 day or night. Zara reads this listing and answers in plain words. When you want a person, she hands you to a licensed agent.
A licensed local agent
Your agent shows you the home, checks the paperwork and negotiates your offer, on your side, not the seller's.
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 1–3 bed homes for sale in Toronto around $519K.
Average days on market32Homes sold in about 32 days on average.
Sale-to-list ratio5114.8%On average, homes sold at or above asking.
Active listings12,506Homes for sale here right now.
Median vs prior 90 days0.0%Compared with May 4 – Aug 2, 2026.
Based on 9,270 sales from Aug 2 – Oct 31, 2026 (6,989 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
4 for sale · 1 for rent at 40 Homewood Ave — plus its sale and lease history.
40 Homewood Ave #316 is listed at $519,000 (MLS® C14135684). Summitly updates the price as soon as the MLS® record changes.
Is $519,000 a good price for 40 Homewood Ave #316?
Summitly rates it Good Deal: the asking price is 3% to 10% 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 #316 changed?
No — 40 Homewood Ave #316 is still listed at its original asking price of $519,000.
How many bedrooms and bathrooms does 40 Homewood Ave #316 have?
40 Homewood Ave #316 has 2 bedrooms and 1 bathroom, with about 600–699 square feet of living space. It is a condo in Toronto.
Is 40 Homewood Ave #316 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 #316?
About $2,550 a month — principal and interest on $519,000 with 20% down ($103,800), 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 #316 compare with other homes in Toronto?
Its asking price of $519,000 is about 38% below the median sold price in Toronto over the last 90 days, $840,000, across 9,270 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 #316 been sold before?
Summitly has no earlier MLS® sale or lease of 40 Homewood Ave #316 on record from the last two years. Older records aren't shown under TRREB rules.
Where is 40 Homewood Ave #316?
40 Homewood Ave #316 is in Toronto, ON. Schools, transit, parks and shops nearby are under Location & lifestyle on this page.
How long has 40 Homewood Ave #316 been on the market?
1 day — 40 Homewood Ave #316 was listed on October 30, 2026.
What is the price per square foot of 40 Homewood Ave #316?
About $742 to $865 per square foot: the asking price of $519,000 over the 600–699 sq ft the listing gives as its size range.
Does 40 Homewood Ave #316 have parking or a garage?
Yes — the listing gives 1 parking space. Garage: Yes.
