Forgotten Toronto house surrounded by apartments and strip mall is asking $865K

Toronto real estate is baffling on a good day and fully unhinged on a bad one.

Today's star of the show: 10 Cedar Dr.

This two-bedroom, two-bathroom bungalow last sold in 2009 for a very reasonable $299,800, back when Toronto housing made some kind of loose sense.

At the time, the listing bragged that "thousands of dollars" had been poured into renovating the basement apartment. We can't confirm if that meant granite countertops or just a new coat of beige paint, since there were no photos. Mysterious.

Fast forward to now, and the house looks less "cozy fixer-upper" and more "set of a post-apocalyptic indie film."

There are traffic cones casually vibing on the driveway, garbage scattered across the lawn, and dead weeds galore.

The current listing, however, is staying positive.

It describes the property as a "distinctive opportunity offering endless possibilities for the creative buyer."

Which is bold, considering it's wedged between high-rise apartment buildings, parking lots, and a strip mall that has stores like "Priceless Shoes" and "Smok".

To be fair, the lot itself is genuinely solid — 73 by 150 feet of land — which in Toronto is basically gold if you know how to play the zoning game. Anyone with real estate smarts would be lining up to turn this into a multiplex or small development.

As for the inside? Total mystery.

As with similarly decrepit-looking properties, there are no interior photos, just some very optimistic phrases about a "spacious layout" and "timeless character." Which, in Toronto real estate code, could possibly mean that a wall is missing and the kitchen is still living its proud 1970s best life.

None of that is especially weird for Toronto. What is weird is the pricing strategy.

This place was first listed at $699,900… sat there for over a month… and then, somehow, the sellers decided the real problem was that the price wasn't high enough and bumped it up to $865,000.

In this market? Absolutely delusional behaviour.

That said, if you're a developer, this might be some of the cheapest land you'll find in the city right now.