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.
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.
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.
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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.
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.