MLS® listing
262 Melrose Street: detached house for sale
$778,000
From the listing brokerage
Attention builders, investors, renovators, and first-time buyers. Welcome to this charming two-bedroom home in the heart of sought-after Mimico, in South Etobicoke. Set on a generous deep lot, this well-maintained property offered as is, presents fantastic potential to renovate or expand. Inside, enjoy a sun-filled main level, new flooring throughout, fresh paint, and a separate side entrance with excellent potential for future rental income or an in-law suite. Step outside to a spacious backyard, perfect for entertaining, gardening, or future expansion. Ideally located just minutes from the lake, waterfront trails, Mimico GO Station, Highway 427, the QEW, excellent schools, cafes, restaurants, shops, The Queensway, and Sherway Gardens. A rare opportunity to secure a prime piece of real estate with exceptional lifestyle and long-term value.
Facts on the listing
| Square feet | 700-1100 |
|---|---|
| Style | 1 1/2 Storey |
| Basement | Unfinished |
| Lot width | 25 |
| Lot depth | 125 |
| Lot measured in | Feet |
| Faces | South |
| Parking spaces | 2 |
| Garage | None |
| Heating | Forced Air |
| Cooling | Central Air |
| Kitchens | 1 |
| Property tax | $3,867 |
| Tax year | 2026 |
| Interior features | Other |
Listing courtesy of RE/MAX PROFESSIONALS INC.. MLS® W13756020.
About this detached house
262 Melrose Street is a 2 bedroom detached house in TRREB's Mimico community in Toronto, listed for sale at $778,000. The listing shows 1 bathroom and 700-1100 square feet. The style is given as 1 1/2 storey. The lot is listed as 25 by 125 feet. The listing gives the basement as unfinished. It comes with 2 parking spaces according to the listing. The nearest main intersection given is Royal York & The Queensway.
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 262 Melrose Street
At the asking price of $778,000, 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 | $778,000 |
|---|---|
| Ontario land transfer tax | $12,035 |
| Toronto municipal land transfer tax | $12,035 |
| Both taxes | $24,070 |
| First-time buyer relief, if you qualify | up to $8,475 |
| Minimum down payment | $52,800 |
The down payment figure is the federal minimum: 5 percent of the first $500,000 and 10 percent of the rest. A lender can ask for more. These figures use the asking price, so they change if you pay more or less. 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) | $3,867 a year, about $322 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 $778,000, which is $392,000 below 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 125 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. The listing has a virtual tour, but 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.
About Mimico
A lakeside Etobicoke neighbourhood where condo apartments make up most sales, beside streets of detached houses and townhouses. From April to June 2026 the median sale across all property types was $671,000 (TRREB).
Transit: Mimico GO station (Lakeshore West line) at 315 Royal York Road. The 501 Queen streetcar along Lake Shore Boulevard West, with the 507 Long Branch and 508 Lake Shore streetcars at limited times
| Property type | Median | Sales and average |
|---|---|---|
| All property types | Median $671,000 | 169 sales, average $804,199 |
| Detached | About $1,250,000 | 31 sales, average about $1,237,000 |
| Freehold townhouse (TRREB att/row/townhouse) | About $1,200,000 | 9 sales, average about $1,212,000 |
| Condo townhouse | About $1,027,000 | 5 sales, average about $982,000 |
| Condo apartment | About $609,000 | 124 sales, average about $659,000 |
| Semi-detached | No sales reported | 0 sales |
Source: TRREB community housing market reports, as set out in the guide.
Questions about Mimico
Is Mimico a good place to live?
That depends on the home you need and how you travel. Mimico is mainly condo apartments by sales, with a median condo apartment sale of about $609,000 from April to June 2026 (TRREB). It has a GO station on the Lakeshore West line, the 501 Queen streetcar on Lake Shore Boulevard West and a string of City parks on the water.
How much does a house cost in Mimico?
From April to June 2026 TRREB recorded 31 detached sales in Mimico with a median of about $1,250,000. The 9 freehold townhouse sales had a median of about $1,200,000. TRREB recorded no semi-detached sales in the quarter.
Is there a GO station in Mimico?
Yes. Mimico GO station is at 315 Royal York Road on the Lakeshore West line. Trains toward Union station stop at Exhibition GO and then Union, so Union is 2 stops away (GO Transit).
Is Mimico on the subway?
No. The nearest rapid transit inside the area is Mimico GO. The 501 Queen streetcar runs along Lake Shore Boulevard West between Humber Loop and Long Branch Loop on the TTC map. The 507 Long Branch and 508 Lake Shore streetcars also run there at limited times.
Is Mimico a heritage conservation district?
No. The City of Toronto's list of heritage conservation districts does not include a district in Mimico. Individual properties can still be designated, so check the exact address with the City.
Read the Mimico neighbourhood guide · All Mimico homes for sale
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Questions about 262 Melrose Street
How much is land transfer tax on 262 Melrose Street?
At the asking price of $778,000 the Ontario tax is $12,035 and the Toronto tax is $12,035, $24,070 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 262 Melrose Street?
$52,800 at the asking price of $778,000, under the federal minimum down payment rules. A lender may require more.
How much is the property tax on 262 Melrose Street?
The listing shows $3,867 a year for 2026, about $322 a month.
Is 262 Melrose Street priced above or below the median?
It is listed at $778,000. 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 $392,000 lower. The median covers all sizes and neighbourhoods.
How do I book a showing for 262 Melrose Street?
Use the form on this page or call us. Quote MLS® W13756020. We will confirm the listing is still available and arrange a time with the listing brokerage.
Is 262 Melrose Street 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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