User/Investment Opportunity: Meticulously Maintained Multi-Plex in Desired corner Location. This property boasts an unbeatable location, with a TTC bus stop steps from your doorstep and close proximity to all amenities and downtown, offering immense appeal to tenants. The building features six residential units, comprising four 2-bedroom units and two 1-bedroom units. Each unit benefits from two separate access points, enhancing privacy and convenience. All units are currently occupied by month-to-month tenants, providing immediate income and flexibility for future strategies. Each unit includes a 3-piece washroom. A shared coin laundry facility adds an attractive amenity for residents and an additional income stream for the owner. Equipped with two furnaces with humidifiers (approx. 10 years old), four owned gas hot water tanks, two separate gas meters and separate hydro meters for each unit. Roof is approximately 12 years old. Some units are equipped with portable window air conditioning units. Ample exterior parking and 4-car detached garage. This property presents a compelling investment with an estimated annual gross income of $100,414.80 and an estimated annual expense of $27,553.00, with and estimated Net Operating Income (NOI) of 72,861.80.
10 bedrooms, 6 bathrooms, about 3,500 sq ft, works out to roughly $443 per square foot. Chat with Zara if you'd like a deeper read on whether this multiplex fits your budget and timing.
Inside 587 Danforth Rd
Every detail from the listing, in one place.
Type
Multiplex
Style
2-Storey
Living space
3500-5000 sq ftas stated on the listing
Parking
19 spacesYes garage
Basement
Apartment
Features & systems
Parking & garage
Garage
Yes
Parking spaces
19
Interior
Basement
Apartment
Lot & land
Lot size (sqft)
0.249
Listing & possession
Property style
2-Storey
Property class
Multiplex
587 Danforth Rd 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
$7,615
/mo
based on the purchase price of $1,550,000
$310,000 cash
$1,240,000 financed
$1,044,405 total interest
Principal54%$1,240,000
Interest46%$1,044,405
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 Danforth Road? 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 587 Danforth Rd 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 587 Danforth Rd 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.
Keep looking near 587 Danforth Rd
Homes for sale in Toronto
Every active Toronto MLS® listing, updated all day.
Average days on market32Homes sold in about 32 days on average.
Sale-to-list ratio5138.8%On average, homes sold at or above asking.
Active listings12,680Homes for sale here right now.
Median vs prior 90 days+0.8%Compared with Apr 26 – Jul 25, 2026: prices up.
Based on 9,226 sales from Jul 25 – Oct 23, 2026 (6,811 in the prior 90 days). Aggregate MLS® figures for closed sales; individual sold prices are shown only to signed-in members.
587 Danforth Rd is listed at $1,550,000 (MLS® E13216158). Summitly updates the price as soon as the MLS® record changes.
Is $1,550,000 a good price for 587 Danforth Rd?
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 587 Danforth Rd changed?
Yes — it was first listed at $1,650,000 and is now $1,550,000, a drop of $100,000 (6.1%).
How many bedrooms and bathrooms does 587 Danforth Rd have?
587 Danforth Rd has 10 bedrooms and 6 bathrooms, with about 3,500–5,000 square feet of living space. It is a multiplex in Toronto.
Is 587 Danforth Rd close to transit?
The nearest rapid-transit station is Scarborough GO Station (Lakeshore East GO), about 830 m (about a 10-minute walk) in a straight line. Warden Station is about 1.3 km (about a 17-minute walk), and Kennedy Station is about 2.3 km. Distances are straight-line, not walking routes; check the transit agency for routes and schedules.
How much would the monthly mortgage be on 587 Danforth Rd?
About $7,615 a month — principal and interest on $1,550,000 with 20% down ($310,000), 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 587 Danforth Rd compare with other homes in Toronto?
Its asking price of $1,550,000 is about 84% above the median sold price in Toronto over the last 90 days, $842,000, across 9,226 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 587 Danforth Rd been sold before?
Summitly has no earlier MLS® sale or lease of 587 Danforth Rd on record from the last two years. Older records aren't shown under TRREB rules.
Where is 587 Danforth Rd?
587 Danforth Rd is in Toronto, ON. Schools, transit, parks and shops nearby are under Location & lifestyle on this page.
How long has 587 Danforth Rd been on the market?
147 days — 587 Danforth Rd was listed on May 29, 2026.
What is the price per square foot of 587 Danforth Rd?
About $310 to $443 per square foot: the asking price of $1,550,000 over the 3,500–5,000 sq ft the listing gives as its size range.
Does 587 Danforth Rd have parking or a garage?
Yes — the listing gives 19 parking spaces. Garage: Yes.
