This is what a $2.5 million house looks like in Brampton these days
When this house sold in 2010 it went for just over $400K. Ten years later this bungalow is apparently worth $2 million more.
Listed for $2,490,000, 2765 Embleton Road is an average three-bedroom, two-bathroom bungalow.
Now in Toronto, this extraordinary value appreciation might be explainable but this house is in the middle of nowhere in Brampton.
Sure, it's sitting on almost 0.6 acres which isn't nothing but looking at comparable houses in the area there are newer and nicer places on the market for the same price.
This home's interiors are dated and the rooms are dark and cramped. It would likely be a gut job or a tear down if you were looking to live here.
However, this place isn't really being sold for the home itself.
As the listing makes abundantly clear this is a development opportunity – either for a single family home or something bigger.
Realtor Roan Lawson writes: "Attention builders! Investors! Are you looking to build your dream home or looking for land with developmental potential? This is your opportunity."
"This home is close to both the Mount Pleasant Go Stations and highways 401/407 and [the] proposed 413 highway."
He also adds that the house is going to be close to the new Heritage Heights Development Plan, which plans to make the most underdeveloped part of Brampton a new town centre.
But as for when that plan will actually turn into a reality is still very unclear.
Which means if you're looking to make a quick return on your investment this place is not it.
Right now this is just some really expensive grass in Brampton with a mediocre house on it.
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