$2,588,000 - 494 Atlas Avenue, Forest Hill
Detached for Sale in Forest Hill
100 days on market- MLS Number
- C12864994
- Property Type
- Detached
- Status
- active
- Days on Site
- 100
- Bedrooms
- 5
- Bathrooms
- 5
- Square Feet
- 2,500 - 2,999 sqft
- Neighbourhood
- Forest Hill / Deer Park
- Listing Brokerage
- RE/MAX REALTRON REALTY INC.
Welcome to 494 Atlas Avenue a designer custom-built masterpiece! Steps from Allen Road and Eglinton, this home offers over 4,200 sq.ft. of total living space, including 2,834 sq. ft. above grade with contemporary design and luxurious finishes throughout. The main and second floors feature soaring ceilings that create a sense of openness and light. With 4+1 spacious bedrooms and 5 bathrooms, this home seamlessly blends sophisticated design with everyday functionality. The open-concept main floor, framed by oversized windows, flows into a sleek kitchen with premium appliances, custom cabinetry, and a waterfall island, leading naturally into the inviting living and dining areas. A modern glass-railed staircase ascends to the second floor, where generously sized bedrooms offer ample closet space. The primary suite is a true sanctuary, complete with a spa-inspired bathroom and a large walk-in closet. The fully finished lower level provides nearly 1,400 sq. ft. of additional living space, including a guest/in-law bedroom, a recreation room with fireplace, and a laundry room. Step outside to your private backyard retreat fully fenced and surrounded by mature cedars. A large deck, pergola, and natural gas BBQ hookup make this an ideal space for year-round entertaining and relaxation. Located in one of Toronto's most desirable communities, you'll be just steps from Eglinton Avenue, shops, restaurants, top-rated schools, and scenic Cedarvale Park. Commuters will appreciate the close proximity to Eglinton West/Cedarvale LRT and the upcoming Forest Hill Station. This is a rare opportunity to own a truly special home in a high-demand neighbourhood.
Estimate your monthly payments for this property
Estimated Payment
$11,447.60/mo
5-yr fixed avg.
Rates shown are estimates based on typical Ontario 5-year fixed rates. Canadian mortgages use semi-annual compounding as required by law. CMHC insurance applies to purchases under $1.5M with less than 20% down. Estimated property tax uses an approximate 0.85% rate. Contact us for current rate options and pre-approval.
Discover Forest Hill / Deer Park
Forest Hill / Deer Park is a vibrant community in the Greater Toronto Area, offering excellent amenities, schools, and transportation options. This area is popular with families and professionals seeking a balanced lifestyle with access to urban conveniences and natural spaces.
Why Live in Forest Hill / Deer Park
- •Convenient location in Forest Hill / Deer Park
- •Access to local shops and dining
- •Good public transit connections
- •Community parks and green spaces
- •Well-maintained neighbourhoods
Nearby Schools
Transit & Commuting
- •MiWay bus routes throughout the area
- •GO Transit stations within driving distance
- •Easy highway access to 401/403/QEW
- •Walking distance to local amenities
Parks & Amenities
- •Local parks and recreational facilities
- •Community centres
- •Shopping plazas nearby
- •Restaurants and cafes
Lifestyle & Community
Forest Hill / Deer Park offers a wonderful quality of life with a mix of residential charm and urban convenience. Residents enjoy easy access to schools, parks, and shopping, making it an ideal location for families and professionals alike.
494 Atlas Avenue, Forest Hill / Deer Park
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Monthly Cash Flow Breakdown
Note: These are estimates only. Actual figures may vary based on market conditions, property condition, and other factors. Consult with a financial advisor for personalized advice.
Joe's Thoughts
Honest perspective from 30+ years of GTA real estate experience
Fair Market Value
At $1035/sqft, this property is priced in line with current Forest Hill market conditions. The pricing suggests the seller has done their homework. We may have modest room for negotiation, typically 2-4% in today's market.
Negotiation Opportunity
At 100 days on site, this property has exceeded the typical selling timeline for Forest Hill. This creates leverage for buyers. The seller may be motivated by carrying costs, life circumstances, or previous deals falling through. I'd recommend a strategic offer below asking with terms that favour you.
Detached Home Advantages
Detached homes in Forest Hill are increasingly scarce and valuable. You'll have no shared walls, full control over renovations, and typically stronger appreciation. Consider the lot size and potential for future additions or basement apartment income. Detached homes also offer the most flexibility for growing families.
Excellent Flexibility
With 5 bedrooms, you have genuine flexibility. Beyond the master and kids' rooms, you can have a dedicated home office, guest room, hobby space, or even rental income potential. In today's work-from-home era, extra bedrooms add significant value. Properties with 5+ bedrooms are relatively rare in Forest Hill.
Bathroom Count Matters
With 5 bathrooms, morning routines are much smoother. Multiple bathrooms significantly improve daily livability and are a major selling point for resale. Buyers consistently pay more for adequate bathroom counts - this is a strong feature.
Investment Perspective
Looking at this as an investment: Forest Hill properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $10,783 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.