This $500K three-bedroom might be the cheapest house in Toronto right now
While housing prices have markedly decreased in recent months, it's been a while since any house, detached or semi-detached, has been listed for under $800K.
But with rising interest rates and just a general cooling of the market, maybe this reasonably priced home will be just the beginning.
Listed for $499,000, 165 Nairn Ave. boasts three bedrooms, two bathrooms and one parking space.
Full disclosure, the home is being sold "as is," which means it definitely needs a lot of work.
There are signs of water damage in multiple parts of the house and likely a bunch of other things that would show up on an inspection report.
But overall it doesn't look as rough as some of the other homes we've seen on the market in recent months.
The main floor has the living room and kitchen.
The kitchen is eat-in so it can also function as your dining room.
Everything is pretty dated and the living room is only as wide as a three-seater couch, but there's usually always potential.
Upstairs there are the three bedrooms and a bathroom. There are doesn't seem to be any closet space, so storage is definitely an issue.
The bathroom has seen better days. The paint is chipping and some tile is missing.
In the basement there's another bathroom, a rec room and laundry.
This basement bathroom is probably the worst part of the house, with floor missing and walls crumbling and falling apart.
The home also has a small private backyard with a shed.
The home will likely go for more than the $499,000 it's listed at, but HouseSigma, a website that uses artificial intelligence technology to estimate home value, puts the house value at $566,690.
And when you think about it, that's still pretty decent for a house in central Toronto.
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