Tiny house on large property in Toronto is shockingly under $750K

Most Toronto homes that boast ravine properties as large as 25 by 327 feet are listed for several million dollars.

However, 15 Presley Ave. is currently listed for only $749,000, which is definitely a little... suspicious?

The three-bedroom Scarborough home is sitting on a frankly insane amount of land — you're getting more than 8,000 square feet of property in Toronto for the average price of a two-bedroom condo.

The main floor. 

For comparison, a pretty standard Toronto lot is somewhere around 100 to 120 feet deep, meaning you could theoretically fit almost three normal Toronto backyards end-to-end on this property.

The front porch. 

And unlike an enormous backyard that just leaves you with a lifetime of lawn mowing, much of what you get here is greenery.

The backyard. 

The house backs directly onto Warden Woods, and the mature trees and forest views make the property feel remarkably secluded for a home that's still very much in the city.

View into Warden Woods from the backyard. 

There's also direct access to the Warden Woods Trail, so your backyard basically just keeps going.

The mudroom. 

The house itself is definitely on the smaller side, with only one bedroom above grade and two bathrooms.

The family room. 

But it has been extensively renovated and is quite cute.

The primary bedroom. 

The primary bedroom, which is on the main floor, comes with its own ensuite bathroom.

The kitchen. 

Also on the main floor is a modern kitchen with stainless steel appliances, plenty of cabinetry and a large island.

The family room. 

But the real showstopper inside is the sunken family room at the back of the house.

The family room looking out towards the backyard. 

The room has soaring vaulted ceilings, exposed wood beams, a gas fireplace and two separate walkouts to the backyard.

The wood beams add warmth and character to the space. 

Large windows and glass doors take advantage of the home's ravine setting, flooding the room with natural light and making the forest views a major part of the interior.

One of the downstairs bedrooms. 

Downstairs, the finished lower level adds two more bedrooms, a second full bathroom, and a dedicated laundry area.

An aerial view of the entire property. 

Even more surprising than the amount of land hiding behind this modest house is that there's already been a pretty significant price drop.

The second bathroom. 

The home was previously listed for $899,000 before being relisted at its current asking price of $749,000 — a whopping $150,000 price cut.

The primary bedroom ensuite bathroom. 

So, what's the catch? Well, part of the reason for the surprisingly low asking price could simply be that the local real estate market has taken a beating.

The second downstairs bedroom is currently being used as a home gym. 

The neighbourhood has seen property values down roughly 17 per cent in the last year and detached housing prices have been falling around 20 per cent year-over-year since 2022.

The back of the house. 

In other words, this isn't really some inexplicably cheap ravine property so much as an example of what happens when the real estate market is on the struggle bus.