56 Commonwealth Ave is a 2-bedroom, 1-bathroom detached home in Toronto, listed for $799,000. It has 700-1100 sq ft of living space.
1Situated on a generous 40 x 137.5 ft lot in a convenient location, this 2-bedroom detached bungalow offers excellent potential for renovation, expansion, or redevelopment.
2Features include a separate side entrance to the basement, a spacious recreation room, workshop, laundry area, a detached garage, and a private driveway with parking for up to 4 cars.
Great Opportunity for Renovators, Investors, and Builders! Situated on a generous 40 x 137.5 ft lot in a convenient location, this 2-bedroom detached bungalow offers excellent potential for renovation, expansion, or redevelopment. Features include a separate side entrance to the basement, a spacious recreation room, workshop, laundry area, a detached garage, and a private driveway with parking for up to 4 cars. Deep backyard with plenty of outdoor space. Walking distance to TTC, Kennedy GO Station, parks, schools, shopping, and other amenities. Great opportunity to invest in a desirable and established neighbourhood. Property being sold in as-is condition.
2 bedrooms, 1 bathroom, about 700 sq ft, works out to roughly $1,141 per square foot. Chat with Zara if you'd like a deeper read on whether this detached fits your budget and timing.
Inside 56 Commonwealth Ave
Every detail from the listing, in one place.
Type
Detached
Style
Bungalow
Living space
700-1100 sq ftas stated on the listing
Parking
4 spacesYes garage
Basement
None
Features & systems
Parking & garage
Garage
Yes
Parking spaces
4
Interior
Basement
None
Lot & land
Lot size (sqft)
0
Listing & possession
Property style
Bungalow
Property class
Detached
56 Commonwealth Ave Price & Sale History
Earlier listings of this property, list-price changes, and the most recent annual property tax on the listing.
For saleListedThis listingMLS® E14029452$799,000
Sourced from MLS®. Includes earlier listings of this property on record.
What's it worth?
How 56 Commonwealth Ave 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
$3,925
/mo
based on the purchase price of $799,000
$159,800 cash
$639,200 financed
$538,374 total interest
Principal54%$639,200
Interest46%$538,374
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 2–3 bed homes for sale in Toronto around $799K.
Average days on market31Homes sold in about 31 days on average.
Sale-to-list ratio5032.5%On average, homes sold at or above asking.
Active listings12,864Homes for sale here right now.
Median vs prior 90 days+2.9%Compared with Apr 17 – Jul 16, 2026: prices up.
Based on 9,425 sales from Jul 16 – Oct 14, 2026 (6,664 in the prior 90 days). Aggregate MLS® figures for closed sales; individual sold prices are shown only to signed-in members.
Transit nearby
Stations and stops, straight-line distance
Kennedy StationLine 2, Line 5, Stouffville GO710 m9 min walk
56 Commonwealth Ave is listed at $799,000 (MLS® E14029452). Summitly updates the price as soon as the MLS® record changes.
Is $799,000 a good price for 56 Commonwealth Ave?
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 56 Commonwealth Ave changed?
No — 56 Commonwealth Ave is still listed at its original asking price of $799,000.
How many bedrooms and bathrooms does 56 Commonwealth Ave have?
56 Commonwealth Ave has 2 bedrooms and 1 bathroom, with about 700–1,100 square feet of living space. It is a detached home in Toronto.
Is 56 Commonwealth Ave close to transit?
The nearest rapid-transit station is Kennedy Station (Line 2, Line 5, Stouffville GO), about 710 m (about a 9-minute walk) in a straight line. Ionview Station is about 1.4 km (about a 17-minute walk), and Scarborough GO Station is about 1.5 km (about a 19-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 56 Commonwealth Ave?
About $3,925 a month — principal and interest on $799,000 with 20% down ($159,800), 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 56 Commonwealth Ave compare with other homes in Toronto?
Its asking price of $799,000 is about 6% below the median sold price in Toronto over the last 90 days, $849,000, across 9,425 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 56 Commonwealth Ave been sold before?
Summitly has no earlier MLS® sale or lease of 56 Commonwealth Ave on record from the last two years. Older records aren't shown under TRREB rules.
Where is 56 Commonwealth Ave?
56 Commonwealth Ave is in Toronto, ON. Schools, transit, parks and shops nearby are under Location & lifestyle on this page.
How long has 56 Commonwealth Ave been on the market?
1 day — 56 Commonwealth Ave was listed on October 13, 2026.
What is the price per square foot of 56 Commonwealth Ave?
About $726 to $1,141 per square foot: the asking price of $799,000 over the 700–1,100 sq ft the listing gives as its size range.
Does 56 Commonwealth Ave have parking or a garage?
Yes — the listing gives 4 parking spaces. Garage: Yes.