Toronto house in pretty rough shape still expected to fetch almost $1 million
Just when you think Toronto's real estate market might finally be humbling itself, along comes a listing like 403 Brock Ave. to remind you that it still has the ego of a toddler who has never been told no.
On paper, it sounds promising: a three-bedroom, two-bathroom semi-detached house in one of Toronto's most desirable west-end neighbourhoods. A neighbourhood where updated semis can easily sell for well over $2 million.
And the listing itself really leans into that potential, calling it a "rare opportunity" on Brock Ave. between College and Bloor, highlighting the transit access, nearby schools, Dufferin Mall, and all the neighbourhood amenities.
Which is realtor code for: "Please focus on the postal code and not the ceilings."
The main floor.
Because once you actually step inside, it becomes immediately clear this house is being held together by the structural equivalent of duct tape, glue, and some hopes and prayers.
The basement.
There are missing floors, asbestos ceiling tiles, peeling paint, holes in the walls, and ceilings that appear to literally be supported by masking tape.
A bedroom.
In short, this place needs a full gut renovation just to become remotely livable.
The kitchen.
And that's before you even get into the terrifying possibility of what's behind the walls, which in Toronto century homes can range anywhere from outdated wiring to plumbing systems one flush away from a whole house flood.
A bathroom.
You'll also need an entirely new kitchen and bathrooms, and if you've looked at renovation costs lately, you already know that alone can spiral into six figures frighteningly fast.
The washer and dryer in the kitchen.
A kitchen renovation in Toronto can easily run between $30,000 and $80,000, and that's before you accidentally convince yourself you need imported Italian marble counters and custom millwork.
The front entrance and living room.
Still, for the right buyer — someone with vision, patience, and maybe a contractor in the family — the property does have long-term upside.
A bedroom.
The only problem is that, unlike some recent "handyman special" listings, this one isn't exactly cheap.
A bedroom.
At $938,900, you're not really buying a bargain teardown. You're buying a potentially extremely expensive construction project.
The dining room.
By the time you bring the property up to modern, sellable standards, you're likely looking at renovation costs somewhere between $750,000 and $1 million — potentially more if you go full luxury renovation.
The backyard.
And while renovated semis in the area can sell for over $2 million, many are still trading closer to the $1.2 million mark, depending on finishes and market timing.
A bedroom upstairs.
It's also worth noting that property values have dropped a staggering 53 per cent in the area over the last 12 months.
The breakfast nook.
Add in slower sales and softer prices across parts of Toronto's market, and suddenly the math starts looking a lot less like an HGTV success story and a lot more like a very long-term gamble.
The basement.
Basically, 403 Brock Ave. isn't really a starter home. It's a commitment. A financial risk. Possibly a personality test.
The back of the house.
But if this really is your dream house, then all I can say is: may the odds — and the foundation — be ever in your favour.
