This might be the cheapest detached house in Toronto right now
Toronto house prices might be going up for the third month in a row and rent may be getting out of hand, but if you look hard enough you can still find a cheap house...or, at least, cheap by comparison.
Right now, the average cost for a detached house is $1,196,101, but 459 Whitmore Ave. is currently listed for the delightfully low price of $699,900.
Okay, first the positives.
The small bungalow is sitting on a generous 25 by 110-foot lot, so if you were looking to rebuild, there's a decently-sized plot of land on which to do so.
If you were going to renovate the house or live in it, there's definitely some potential here.
It has two bedrooms and two bathrooms, a private driveway, and a detached garage (albeit a dilapidated one).
It also has a finished basement with a separate entrance.
Location-wise, it's pretty good.
It's just north of Eglinton and within walking distance of the Eglinton West subway station, as well as the future Eglinton Crosstown.
Although as of right now, that neighbourhood is a construction nightmare.
Now, the negatives.
First off, the house probably need a solid $500k of work, but the "as is" condition is probably workable in the short term if you wanted to renovate slowly.
The interior of the home is very dated – note the pea-green bathroom fixtures, fruit tile, and '50s oven in the kitchen.
There's also some pretty serious repairs you'd probably want to do if you want to live in the house.
For example, there's noticeable water damage in the bathroom and one of the bedrooms.
This probably means there's mould, so you may need to rip out and rebuild walls.
The basement also looks like it has some significant efflorescence and water damage.
At the bare minimum, this will likely need waterproofing, but worst case scenario, the entire foundation may need fixing.
But again, a detached house under $700k in Toronto is pretty much unheard of, so you can't really expect a turnkey home at this price point.
And while the listing does say this property could be good for "flippers or anyone looking to build their dream custom home," if we're being realistic, this house is most likely being sold for land value and will be snapped up by an investor, contractor, or builder.
That being said, at least you might be able to afford it without needing to make $236k a year.
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