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House of the Week: 325 Perth Avenue

Posted by Leslie Bank / January 21, 2014

325 Perth AveThis house at 325 Perth Ave. is a pretty good catch: a fully renovated Junction Triangle semi-detached with an open concept layout and lots of bright and airy touches. Two of the bedrooms might feel a bit small, but you can't fault a master with a bay window and sizeable closets in each room.

325 Perth AveThe basement has been converted into a clean, compact separate apartment complete with a new kitchen. The space is being billed as a "nanny suite," but there could be potential to turn this into an income property if you're looking for a mortgage boost. The studio at the back of the house, part of an addition to the original structure, might not be spacious but does have a lot of charm - if you're easily wooed by wood ceilings and brick walls. This space might not cut it as an extra bedroom, but it does a bang up job as a studio or home office.

325 Perth AveIt's difficult to suss out the quality of a backyard during winter sales, but this one looks promising: narrow but long with a tall privacy fence, a row of hedges and a large wooden storage shed at the rear. The location of the house is also very family friendly. The house is directly across the street from an elementary school, and Perth Square Park is just a few steps away. There are kids everywhere. Really - everywhere.

325 Perth AveSPECS

  • Address: 325 Perth Ave
  • Price: $639,900
  • Lot Size: 18.17 x 125 ft.
  • Bedrooms: 3 + 1
  • Bathrooms: 2
  • Parking Spaces: 1
  • Taxes: $2,874.93 (2013)
  • Walk Score: 93

325 Perth AveNOTABLE FEATURES

  • Fully finished lower level nanny suite with separate entrance
  • li>Renovated kitchen with new appliances
  • Open concept first floor living space

GOOD FOR

A family. This neighbourhood is getting more kid-centric by the year, and three bedrooms is more than enough space for a few little ones. The separate basement suite is in great shape and could easily accommodate a nanny or a granny as is, but keep in mind some adjustments are needed before it could be fit to rent.

325 Perth AveMOVE ON IF

The Junction Triangle is really on the upswing, but some might still consider this strange little West End slice to be a dead zone. If I told you could walk to Farmhouse Tavern from here in three minutes, would that change your mind?

MORE PHOTOS325 Perth Ave325 Perth Ave325 Perth Ave325 Perth Ave325 Perth Ave325 Perth Ave325 Perth Ave325 Perth Ave325 Perth Ave325 Perth Ave325 Perth Ave325 Perth Ave325 Perth Ave325 Perth AveRead other posts in this series via our House of the Week Pinterest board.

Discussion

67 Comments

:-O / January 21, 2014 at 07:04 am
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That sun room with the keyboard in it must be EXTREMELY cold in these current temperatures.
;-{D / January 21, 2014 at 08:36 am
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I've viewed the place and the sunroom is actually quite warm. Must be insulated well.
This house will go for at least 100K over asking.
w-hat / January 21, 2014 at 08:58 am
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Only because it is priced at least $100k under what it is worth.
:-{D / January 21, 2014 at 09:19 am
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"Worth" is subjective.
Andrew / January 21, 2014 at 09:50 am
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Wide angle lenses. Tsk tsk
House Expert Realtor / January 21, 2014 at 09:50 am
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I've been studying the area for a long time and this home is not really worth it.. Take my word.. There are PLENTY of other homes in the area for much less and with everyone doing renos now, it is better to purchase something in the 500's and just put the extra 100k into what they want..

I would stay away from this one as it will go overpriced and it is just not worth it
AV / January 21, 2014 at 10:11 am
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Exactly.... under-priced to create a bidding frenzy. Bet you dollars to donuts the bids are to be held back until a finite window of time on say a Tuesday, and you can only submit your "best offer" one-time (ie. overbid in fear of losing the house).

Can't believe people fall for this stuff over and over again...
House Expert Realtor / January 21, 2014 at 10:43 am
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What a lot of people don't realize or know is the future of the area is not looking great. Home prices will decline back to what is whats 2 years ago.. Studies and reports have shown that but its not publicly available .... I would highly stay away from this area.
AV / January 21, 2014 at 10:48 am
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Agreed... look at how well "DUKE" is selling @ Keele and Dundas.... *crickets*
:-{D / January 21, 2014 at 11:01 am
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Can't really compare to Duke - that's a condo. They are doing badly everywhere.
Due to the proximity to Roncesvalles, Junction & the subway, I seriously doubt prices here will drop back that far, but yes this place will go for more than it probably should.
Then again, if someone falls in love with it it's their dream house, then whatever it sells for is it's "worth" to them.
Daniel MacQuarrie / January 21, 2014 at 11:56 am
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I did a CMA and I think they will get close to what they are asking for this house. There are a lot of extremely similar homes that sold at this price during 2013. Yes, there are cheaper 2-story semi's in the area, but not everyone wants the extra reno costs involved. And apparently this has a basement apartment with a separate entrance.

Daniel MacQuarrie
http://www.tophousesforsaleintoronto.com
Chris! / January 21, 2014 at 12:21 pm
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"What if I told you the Farmhouse Tavern was the ONLY thing you could walk to in three minutes?"

This is a tough area to project in terms of livability. Most of the storefronts in this stretch of Dupont are zoned residential and the owners aren't going anywhere. Makes the addition of any further neighbourhood essentials (ie. signs of life like restaurants, coffee shops and bars) doubtful in the near term.

Still, if you're looking for a house, beggar's can't be choosers.
JPTN / January 21, 2014 at 01:02 pm
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BlogTO should have embedded the virtual tour instead of just linking to it: http://toursler.com/325-perth/junction-triangle-semi
;-{D / January 21, 2014 at 01:15 pm
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@Daneil MacQuarrie - close to asking? Are you sure about that?
The house 2 doors down sold for $730 not long ago. This place will go for more than that, barring a miracle.
2cents / January 21, 2014 at 01:24 pm
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I kind of get the sense that people who are making judgments about the walkability of the neighbourhood have no clue what you can actually walk to from the location of this house. Boo Radleys, Zocalo, Wallace and Co., Starving Artist, The Emerson, Whipporwill, every restaurant, coffee shop, store etc... on Roncy, LCBO, Beer Store, FreshCo, Loblaws, Shoppers Drug Mart, the list goes on....anyway....probably not worth my time.
;-{D / January 21, 2014 at 01:49 pm
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Agree about the walkability - it's around 15 mins walk from both Roncy and Junction. But at the end of the day, it still ISN'T Roncy or Junction.
d / January 21, 2014 at 02:11 pm
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wow. 640K for a semi. And that's lowballing? That's just disgusting.
Jo / January 21, 2014 at 02:31 pm
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I was one of the curious, currently looking for a new house in the west end, so I went for a peek during this open house. It's been beautifully renovated. The kitchen and bathroom being my favourite, plus the potential for a second income from the basement rental, is a sweet cherry on top. That being said, in the half hour I was there, at least 20 people came and went. This is going over asking no question about it.
Danielle / January 21, 2014 at 02:44 pm
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Gotta love the giant Naruto sticker in the bedroom.
doof / January 21, 2014 at 02:55 pm
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They couldn't think of anything decent to include for the Move On section? I love reading the homes of the week, but they should really be more subjective.

How about moving on if you don't feel like paying a fortune? Or if you don't want to be across from a school teaming with squealing children running across the lawn? Or the fact that it's not crazy accesible to TCC? Those aren't terrible things at all, but they certainly help provide balance to the article.
christopher / January 21, 2014 at 02:56 pm
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Notice how everything has been rented and brought in for staging. Everything is overly neutral and looks unused. This is a renovated house for quick turn around. Find out how much it was last bought for and figure out the cost of renovating it. This is not a kid friendly neighbourhood.
Jo / January 21, 2014 at 03:15 pm
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FYI - The home owner is also the Real Estate agent. He did the renos himself, not a flip house. For reals. Not everything is TO is underhanded and insidious.
Canaduh / January 21, 2014 at 03:27 pm
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Looks like IKEA threw up in that house.
Jeff Vio / January 21, 2014 at 03:42 pm
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Why do I get the feeling that the only people saying good things about this house are he ones that are selling it. And trying to get the price to go higher by pretending thy have no relation. Oldest trick in the books.
Elizabeth / January 21, 2014 at 04:03 pm
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This neighbourhood is totally family friendly and fabulous. I live here. Would LOVE this house!!
Zion / January 21, 2014 at 04:21 pm
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20 years ago, you couldn't give this house away. Now, a bit of reno, soft neutral paint & furniture, and a wiiide angle lens to make the place look twice the size, and you'll have house starved people who watch way too much hgtv drooling. And handing over far too much money. A former colleague bought a similar house in the Junction in the late 90s for $50,000 that needed a good amount of work. Another $50,000 spread over several years created a rather snug, cozy, womb like enclosure for her family of a 5. Note, snug and cozy and womb like. It's a small house. With small rooms. And at a total of $100,000 was a good price. The asking price here? And those wickedly stretched out photos? Hilarious.
Cam / January 21, 2014 at 04:26 pm
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Those with negative comments are simply jealous they don't live in a great neighbourhood. Now move on.
Eyeroll / January 21, 2014 at 05:20 pm
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Just heard that as of a couple hours ago there were 17 offers registered on this house.
First timer / January 21, 2014 at 05:47 pm
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We were registered to bid on this house but just found out there's going to be 31 offers, possibly more. What a feeding frenzy. No thanks.
Jess / January 21, 2014 at 06:18 pm
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I like how no one has mention this is the street that that little girl was kidnapped from and found in Lake Ontario. 10 years and all is forgotten.
Sarah / January 21, 2014 at 07:41 pm
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@Jess, Holly Jones was the first thing that came to my mind, too. Also @Jo, it does look like a flip (staged/too matchy and blah), do you know when the agent-owner bought it?
MJ / January 21, 2014 at 07:43 pm
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@ Zion. wickedly stretched out pictures...are you retarded or just plain stupid? A wide angle lens is what you would see as if in person. dipshit!
Mike / January 21, 2014 at 08:03 pm
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"FYI - The home owner is also the Real Estate agent. He did the renos himself, not a flip house. For reals. Not everything is TO is underhanded and insidious. "

God I hope not !! Sounds like Mike Holmes will be visiting this place soon.
hillary / January 21, 2014 at 08:07 pm
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i agree. the wide-angle lens should be banned. showing photos like this is equivalent to misleading advertising. why isn't advertising standards canada monitoring this more?
Tony / January 21, 2014 at 08:14 pm
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Where is the garage?
Luigi / January 21, 2014 at 08:44 pm
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Samuel, you are a moron for posting that info! Get a life.
the / January 21, 2014 at 08:48 pm
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Unlike many, the house actually was quite wide - part of its appeal. The owner/seller had lived there with his family for 14 years - not a flip. It was probably staged to look its best, but that isn't unusual. Mostly, if you visited it, it felt like a nicely maintained, comfortable home. And while we've seen cheaper in the area, most are smaller and require so much work, that this asking price wasn't out of line with others in the area.
Michael / January 21, 2014 at 09:02 pm
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Looks alright on the inside but way too expensive for the area.I guess this is what Toronto has to offer these days.
LC / January 21, 2014 at 09:05 pm
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31 offers... crazy. Very curious to know how high it went. High 7's?
sherlockhomes / January 21, 2014 at 09:53 pm
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31 offers? try less than half that.

the home looks like its 85 years old from the brick work on the porch.

whoever pays 800k+ is really looking at another 250k investment at the low end after structural improvements w/in 5 years
LC / January 21, 2014 at 10:49 pm
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Just going on what a previous poster said re: number of offers. Regardless, I am sure there were many
jj / January 21, 2014 at 11:28 pm
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There were 33 offers and all indications are that it MAY sell in the 8's. Welcome to the Toronto Spring Market!
cheapest hostel in Perth / January 22, 2014 at 05:06 am
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I am speechless..Do not have words to say about this home..
JasonT / January 22, 2014 at 09:45 am
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It went for 848k - oh boy that's big!
;-{D / January 22, 2014 at 10:06 am
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@ sherlockhomes - It did have over 30 offers. Also, the original build was 1903 so it's actually over 100 years old. I went through the place with a fine-toothed comb, and it is structurally sound. Spoke briefly with the old owner/agent, and he definitely did the remodelling with proper care & attention.
Having said all that, I didn't make an offer because I knew it would be a bloodbath and there is no way I was going to get into a bidding war with someone who have fallen in love with the shiny finishes. They will always outbid someone who is thinking logically.
Sassy Sally / January 22, 2014 at 10:29 am
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You see, you just can't judge a book by its cover. JT is HOT HOT HOT. $848 for a row house in this area. Don't be jealous.
madonna / January 22, 2014 at 10:34 am
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I agree that the Junction Triangel is HOT! Just think, there are many people wanting to buy there.
;-{D / January 22, 2014 at 10:40 am
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Hot is one thing, but that is just overpriced. $848k is a Roncesvalles price, and this ain't Roncesvalles. Nor will it be any time soon. Watch out for that bubble!
Jake / January 22, 2014 at 11:23 am
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Is this the junction? Or is this symmington? The junction is Keele and Dundas. The underpass divides the area. At 848,000 whoever bought this will be scratching their heads very soon when they realize what an error they made. This makes the 801K fern house that the same agent sold look like a STEAL. That is PROPER roncy, 100x better schools, and everything else.

I love real estate but I dont' love surreal estate.
Mr. Disagree / January 22, 2014 at 12:44 pm
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Wake up; The market dictates the prices, if the house is sold for that price, it is what it is. Not sure why you are gung ho on comparing the Junction Triangle to Roncy? No one said that this is Roncy. Besides, who cares what you think anyway. Carry on.
Scott / January 22, 2014 at 12:49 pm
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On one hand I am pretty beside myself at what this house sold, however, the area used to be up and coming..and it has come! There is a huge demand for this area for sure as evedent by the number of people bidding, 30+. I guess for those with negative comments could digest their words.
sousedbergin / January 22, 2014 at 01:38 pm
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If you love that house keep an eye on it, should go into foreclosure some time next year.
scottd / January 22, 2014 at 01:54 pm
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A lot of clueless people posting here.

There are two different TTC routes less than a block away, a third route 3 blocks away plus 2 nearby subway stations.

Children from the school crossing the lawn? In 11 years I have ever seen a kid on this lawn except for the ones that live there.

The house is in good shape structurally, I have been in it.

The Dupont strip is undergoing a revival with Boo Radleys and The Farmhouse plus a future brand new library. The number of new families tells you how livable the area is. The area is filled with new places to eat like Wallace Co. and in fact there have been 5 coffee shops open over the last year and a half.

The fact that this area is surrounded by train tacks, hence "triangle" actually helps foster a sense of community and keeps the area quiet by reducing traffic.

The area, home to Railpath, is undergoing a renewal and will soon have a new community space so people who talk about how bad the area is don't know what they are talking about. Did I mention that there is a skating rink?

Holly Jones was over 10 years ago and the bomb threat turned out to be a kooky senior. Every street has tales.

Split / January 22, 2014 at 02:16 pm
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Just read that 400 people walked through that house. Now tell me why would 400 people be interested in this neighborhood if it wasn't so GreAT?
sousedbergin / January 22, 2014 at 02:19 pm
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There are many great places nearby, love The Holy Oak cafe, but $850,000 for a row house in an former chemical industrial area (as in literally manufacturing chemicals) with pollutants in the soil next to a Uranium processing plant probably doesn't have the best resale value even if wages had risen versus cost of living in Canada the last 40 years.
Split / January 22, 2014 at 02:26 pm
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@souse, are you kidding me. Lets get your facts correct here. The aread once held a paint factory. Do you know how much money and time was spent cleaning up that one particular area? A significant amount. Now move on and don't be jealous.
;-{D / January 22, 2014 at 02:52 pm
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@scottd - agree its a better area than some are giving it credit for, but over $800k IS overpriced for JT. The only reason it went for that much is lack of inventory on the market right now.
Great house, but looking at any comparables you want and using actual economic data, this place is "worth" 750 max.
I agree with the earlier comment that the market decides the selling price, but price and worth are not the same thing.
;-{D / January 22, 2014 at 02:57 pm
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@split - the reason so many people went through is, again, simply the lack of inventory on the market. That's the only reason I looked at it! If there was anything similar in junction or Roncy, I wouldn't have bothered with this one
Zion / January 22, 2014 at 04:08 pm
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@MJ actually, you are the stupid fuckwit. Or, you have bizarre eye problems. Did you weep because you couldn't bid on this house based on the photos? The photos are ridiculously warped looking because one sees 280°. Easy to see in the photos how the walls suddenly stretch out and bow the corners.

Good luck in life, twerp.
JasonT / January 22, 2014 at 04:26 pm
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I agree this place is worth about 750 - it was well staged. My wife wanted to bid on it. She was imagining our daughter on the keyboard. I was imagining renovating the basement and kitchens.

The keyboard room was warm - well insulated. The basement was cold and had thin carpet where you could feel the inconsistent cement underneath. Not to mention both kitchens had vinyl tile and the counter tops needed replacement. Zero storage for kids stuff. The area continues to develop (I have lived here for 5 years) but still needs a lot of improvement. Good strategy by the owner to list early. btw for anyone judging by the pictures - when I walked in I thought I was in a different place. That seems to always be the situation with wide angle, studio lighting and photoshop savvy real estate photographers.
sousedbergin / January 22, 2014 at 04:34 pm
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@Split Believe me I am not jealous, anyone who is jealous of a mortgage of $845,000 on a semi-detached row house needs to get their heads examined. As for chemicals, I live in the area. You can smell a toxic haze in the back patio of Ciros some days in the summer. As far as just a paint factory? A Glue Factory literally exploded chemical rain on the area in 1988. Nestle (one of the worst company's in the world in terms of abuses, seriously, google it) still works in that area.

It's a lovely looking house, close to many businesses I love, but that price is a symptom of mass hysteria in Canada, we learned literally nothing from the American collapse.
:-{D / January 22, 2014 at 07:23 pm
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There is even an article on this sale in The Sun. The key quote: "a number of bank appraisals during the bid process came in around $700,000".
Split / January 23, 2014 at 08:53 am
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@souse, first of all you are assuming that someone has that kind of mortgage. who knows, perhaps the person has a rather large downpayment? Ciros is on Bloor which is quite a far from this house that was sold so i too live in the neighborhood and don't smell what you smell. Granted this area had several factories in the past. I will look up the glue factory and nestle too. Thanks for highlighting this.

bottom line, the sellers of this house won big time due to the best timing. it certainly was a frenzy.

w-hat / January 23, 2014 at 04:18 pm
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Let's be honest, people with real money don't buy semi's in "ok" areas. This is probably a young professional couple who do pretty well by national standards but are now dropping half their income on the mortgage monthly. No ill will here, good luck to them. Maybe I am wrong but I doubt it.

In news not as widely announced, the banks have slowly been moving to institute clauses in variable rate mortgages which stipulate that at any time, if they feel the value of your house is 80% less than the outstanding mortgage amount, they can demand a lump sum payment of the difference, which must be paid in 30 days or default. There is a chance for you to prove it is "worth" more, at your own expense.

Here's hoping house prices never decline, eh?
MAK / January 24, 2014 at 08:33 am
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Yes, the seller (a real estate agent) won, and the highest bidder lost. Just ask them in 5 years' time.
MAK / January 24, 2014 at 10:28 am
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Read all about it in Garth Turner's blog.

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