MLS® listing
40 Thelma Avenue: detached house for sale
$4,888,000
From the listing brokerage
Welcome to 40 Thelma Avenue, a masterfully designed four-level home in the heart of Forest Hill Village. Just steps from the neighbourhood's beloved shops, cafes, and restaurants, and moments from prestigious private schools including Upper Canada College and The Bishop Strachan School, this residence offers an exceptional blend of luxury, location, and lifestyle. Designed by renowned architect Richard Wengle and completed in 2023, this custom-built home spans over 4,500 square feet of beautifully curated living space. Exquisite custom cabinetry and millwork elevate every room, while a fully integrated smart home system provides seamless control of lighting, audio, TVs, window coverings, climate, and security. Generous ceiling heights and floor-to-ceiling windows on every level flood the home with natural light, while built-in surround sound enhances the living experience throughout. Outside, a heated driveway and heated rear patio provide year-round comfort and convenience, complemented by discreet security bollards for added peace of mind. The stunning kitchen is designed for both everyday living and entertaining, complemented by a temperature-controlled wine cabinet ideal for collectors. The second floor features two spacious bedrooms, each with an ensuite, plus a versatile den or play area with its own ensuite that can easily be converted into a fourth bedroom. A dedicated laundry room adds convenience. Occupying the entire top floor, the primary suite is a luxurious private sanctuary featuring a spacious bedroom with walkout balcony, oversized glass-enclosed shower, separate soaking tub, double vanity, custom makeup station, private office, and dedicated wellness space. With timeless architecture, exceptional finishes, intelligent design, and an unparalleled location, 40 Thelma Avenue is a rare opportunity to own an extraordinary home in one of Toronto's most prestigious and walkable neighbourhoods.
Facts on the listing
| Square feet | 3000-3500 |
|---|---|
| Style | 3-Storey |
| Basement | Finished |
| Lot width | 25 |
| Lot depth | 106.66 |
| Lot measured in | Feet |
| Faces | North |
| Parking spaces | 3 |
| Garage | Attached |
| Heating | Forced Air |
| Cooling | Central Air |
| Kitchens | 1 |
| Property tax | $20,610 |
| Tax year | 2026 |
| Parking | Private |
| Interior features | Bar Fridge, Central Vacuum, Built-In Oven, Garburator, On Demand Water Heater, Sump Pump |
Listing courtesy of HARVEY KALLES REAL ESTATE LTD.. MLS® C13713204.
About this detached house
40 Thelma Avenue is a 4 bedroom detached house in TRREB's Forest Hill South community in Toronto, listed for sale at $4,888,000. The listing shows 6 bathrooms and 3000-3500 square feet. The style is given as 3-storey. The lot is listed as 25 by 106.66 feet. The listing gives the basement as finished. It comes with 3 parking spaces and an attached garage according to the listing. The nearest main intersection given is Spadina & St.Clair.
These details come from the listing brokerage through TRREB's MLS® System. Room sizes, the lot, the taxes and what is included in the sale should all be confirmed before an offer is firm.
What it costs to buy 40 Thelma Avenue
At the asking price of $4,888,000, a buyer pays two land transfer taxes on closing: the Ontario tax and the City of Toronto's municipal tax. Both apply to every home inside the City.
| Asking price | $4,888,000 |
|---|---|
| Ontario land transfer tax | $108,675 |
| Toronto municipal land transfer tax | $153,871 |
| Both taxes | $262,546 |
| First-time buyer relief, if you qualify | up to $8,475 |
| Minimum down payment | $977,600 |
The down payment figure is the federal minimum: 20 percent, because a home at $1.5 million or more cannot carry mortgage default insurance. A lender can ask for more. These figures use the asking price, so they change if you pay more or less. The rates above $2,000,000 used here are the ones for a home with one or two single family residences. A property with more units is taxed differently. Legal fees, title insurance and adjustments are extra: ask your lawyer for a written quote. This is general information, not legal or tax advice. Confirm the figures with a lawyer or accountant. You can change the price in our land transfer tax calculator and our mortgage calculator.
What it costs to own each month
| Property tax (2026) | $20,610 a year, about $1,717 a month |
|---|
That is before a mortgage payment, home insurance and utilities. The listing shows no monthly maintenance fee, so upkeep of the building and the lot is the owner's own cost.
How the asking price compares
TRREB recorded 550 detached house sales in the City of Toronto in August 2026, at a median price of $1,170,000 and an average of $1,525,749. This home is listed at $4,888,000, which is $3,718,000 above that median.
The median covers every neighbourhood, size and condition in the City of Toronto, so it is a reference point and not a valuation of this home. Location, size, lot, parking and condition all move the price. Our Toronto house prices page has the figures for every home type.
What to check before you make an offer
- Book a home inspection. An inspector looks at the roof, foundation, wiring, plumbing and heating. The listing gives the heating as forced air.
- Have a lawyer search the title. A title search shows mortgages, liens and easements registered against the property. Ask whether a survey exists and whether it matches the lot on the listing, 25 by 106.66 feet.
- Ask about permits. Ask which renovations had building permits and whether those permits were closed.
- Confirm what is included. Appliances, light fixtures and window coverings are included only if the agreement says so. Ask whether the water heater or furnace is rented.
- Get your financing in writing. A lender looks at the property tax and heating costs as well as the price.
- See it in person. Photos do not show noise, light at different hours or the state of the street and the homes beside it.
Our first-time home buyer guide and our page for buyers walk through each step. This is general information, not legal advice. Confirm the details with a lawyer.
Toronto neighbourhoods and prices
Our neighbourhood guides set out TRREB prices by home type, transit and the housing in each area we cover.
Toronto neighbourhood guides · Toronto house prices · All Toronto homes for sale
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Questions about 40 Thelma Avenue
How much is land transfer tax on 40 Thelma Avenue?
At the asking price of $4,888,000 the Ontario tax is $108,675 and the Toronto tax is $153,871, $262,546 in total. A first-time buyer who qualifies can get up to $8,475 back. Confirm the final figures with your lawyer.
What is the minimum down payment for 40 Thelma Avenue?
$977,600 at the asking price of $4,888,000, under the federal minimum down payment rules. A lender may require more.
How much is the property tax on 40 Thelma Avenue?
The listing shows $20,610 a year for 2026, about $1,717 a month.
Is 40 Thelma Avenue priced above or below the median?
It is listed at $4,888,000. The August 2026 median for detached house sales in the City of Toronto was $1,170,000 across 550 sales, so the asking price is $3,718,000 higher. The median covers all sizes and neighbourhoods.
How do I book a showing for 40 Thelma Avenue?
Use the form on this page or call us. Quote MLS® C13713204. We will confirm the listing is still available and arrange a time with the listing brokerage.
Is 40 Thelma Avenue still for sale?
This page is refreshed from TRREB's MLS® System through the day. If the listing sells or is withdrawn the page says so. Contact us to confirm before you make plans.
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