Dated Toronto bungalow sells nearly $500,000 over asking (PHOTOS)

Nov 4 2021, 5:20 pm

If you’re looking for the perfect example of the Toronto real estate market right now, look no further than this dated North York bungalow that just sold nearly $500,000 over asking.

Located at 324 Connaught Avenue, the three-bedroom, three-bathroom home hit the market with an asking price of $1,298,000. Just one week later, the Toronto bungalow sold for a staggering $1,775,000 — $477,000 over asking.

TORONTO bungalow over asking

Keller Williams Realty Centres

Keller Williams Realty Centres

The outside of the house is charming, with a grassy lawn, large brick chimney, and one-car garage, but once you step inside, it’s like an ’80s time warp.

The home, although spacious, has an old-school closed floor plan with different flooring in nearly every adjoining room. There’s plenty of parquet wood that gives the home a very retro feel, and various tiles throughout the kitchen, bathrooms, and basement.

toronto bungalow over asking

Keller Williams Realty Centres

Keller Williams Realty Centres

The listing marketed the home as a “fantastic development opportunity in a neighbourhood filled with multimillion-dollar properties,” which means the buyer may scrap the house altogether and build something new.

toronto bungalor over asking

Keller Williams Realty Centres

Keller Williams Realty Centres

toronto bungalow over asking

Keller Williams Realty Centres

If they do decide to keep it though, the one upside is that the basement has a separate entrance and its own kitchen and bathroom, which means there’s potential income there if they choose to rent it out.

Keller Williams Realty Centres

There’s also a fairly large backyard with a garden, shed, and deck. The listing advertises it as a “pool-sized” lot, so a new swimming pool could be in the cards for the buyers.

Laura HanrahanLaura Hanrahan

+ Real Estate
+ Toronto Homes
+ Urbanized
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