This half-finished Toronto house is listed for only $1 but not actually

Before you get too excited about a Toronto house, even a half-finished one, costing less than a Timmies donut, there's something you should know.

The property at 17 Windsor Rd. isn't actually being sold for a dollar.

In fact, the listing explicitly states, "The property is not for sale for $1, please send an offer."

The original property. 

So, while the asking price might be a little misleading, the property itself is still pretty interesting.

For starters, the house last sold in 2023 for $1,285,000, and since then, the current owner has apparently poured more than $700,000 into transforming it.

The main floor. 

Unfortunately, that transformation isn't quite finished.

The house is currently something of a construction project, with extensive interior demolition already completed and a new addition built onto the existing structure.

The basement. 

From the listing photos, it looks like at least some of the framing, plumbing, HVAC, and electrical work has been done. There also appear to be some new windows installed.

But there's still a long way to go before anyone can actually call this place home.

The construction site. 

That being said, for someone with deep pockets, a little imagination and a very high tolerance for construction dust, it could be an opportunity to create something pretty spectacular.

The biggest selling point is undoubtedly the land.

The property sits on a large 75-by-163-foot lot, offering approximately 12,225 square feet of space.

The view from the front entrance. 

And with more than 5,000 square feet of combined main-floor and basement space, there's plenty of room to create a sprawling family home.

According to the listing, the property could be transformed into a custom-built residence or even a multigenerational home, depending on what the next owner has in mind.

Framing on the main floor. 

While taking on someone else's half-finished renovation might sound like a nightmare to some, it still offers a bit of a head start.

The current owner has already completed substantial demolition and construction work, and building permits and architectural drawings are available for potential buyers to review.

The lower level of the house. 

Of course, just how much of that work is actually useful will depend on what the next owner wants to do with the property.

The second floor of the house. 

After all, one person's dream home is another person's expensive demolition project.

Still, with a lot this size, possibilities are endless.

The main floor. 

The real mystery, though, is what someone will actually pay for it.

Between the nearly $1.3 million purchase price and the reported $700,000-plus in improvements, the current owner has invested almost $2 million into the property, before accounting for any additional expenses.

But that doesn't necessarily mean the property is worth that much today, especially considering the work still needed to make it livable.

The back half of the main floor. 

It's also worth noting that even the highest recent sales in the surrounding area have topped out at around $2.2 million, while most detached homes in this part of Etobicoke are selling for an average of approximately $1.1 million.

The basement. 

That makes the math a little tricky for anyone hoping to finish the renovation without spending more than the property might ultimately be worth.

And with no actual asking price to go by, prospective buyers will have to decide for themselves what a partially completed house on an oversized Etobicoke lot is worth.

The view of the backyard. 

One thing's for sure: whoever buys 17 Windsor Rd. will need a lot more than a loonie to finish the job.