Detached Toronto house is under $500,000 but there's a catch
Attention, brave souls of the Toronto real estate world: a detached house on Rhodes Ave. E. has magically appeared on the market for under $500,000. Yes, under.
Of course, it's a bit of a mess. We're talking a bed in the dining room, particle board–covered windows, missing ceilings, and a basement that adults and children alike would be scared to enter.
But according to the listing, it's got "potential", you just need to look past the chaos to see it. 
What was once probably the dining room.
You'll definitely need a strong stomach and positive attitude to navigate the "needs TLC" part.
The one and only bathroom that is missing part of the ceiling.
From the photos, there's a lot of work to be done if you're going to keep the original structure.
An air-conditioning unit is balanced over the stairs.
But if you dream of being a handyman, a builder, or a renovator with a boat load of optimism, this could be a great project.
A bedroom.
The home at 283 Rhodes Ave. E sits on a 20-by-55-foot lot and comes with a few perks: parking, both residential and commercial zoning, and a solid location.
An aerial view of the neighbourhood and the lot.
Riverdale is super walkable, transit is close, and all the amenities you could dream of are within reach.
The kitchen with some pretty severe water damage on the wall and ceiling.
Yes, the renovation scope for 283 Rhodes Ave. E is daunting.
One of three bedrooms.
But the payoff? Once you're done, you could own a home worth anywhere from $1 million to $2 million (that's the neighbourhood average).
The living room.
But it could be more lucrative, depending on how creative you get.
The basement.
Turn it into commercial units, and suddenly that money pit could be a sweet little rental empire.
The back of the house.
283 Rhodes Ave. E is listed for $499,933.
