Scary Hamilton house sells for $610K, more than double the asking price
A dilapidated, 114-year-old house recently listed for sale in Hamilton has sold after eye-popping photos of the home drew widespread attention.
The house, located at 204 Wentworth Street North in the Lansdale neighbourhood of Hamilton, hit the market with an asking price of $299,900. Despite the fact that the house was considered unsafe for potential buyers to tour, it sold just eight days later for $610,000. That’s 203% of the asking price.
For that price, the buyers got a boarded-up home that appears to have been abandoned for quite some time. The interior is unlivable, with cracked, peeling, dirty walls, broken tiles, water-damaged ceilings, chunks of drywall missing, and debris strewn about the floor.
But perhaps one of the most head-scratching parts of the home is down in the basement in the form of a giant cartoon rat painted on one of the walls.
According to the listing, the house was sold in “as is” condition without any warranty, meaning the buyer is taking on the challenge of dealing with any and all unknown problems that may pop up.
The house is undoubtedly a major project, but it’s possible that the buyers are looking at the long-term potential of not just the house but the neighbourhood as well.
“Landsdale is one of Hamilton’s quintessential up-and-coming neighbourhoods,” said Nick Vanderzanden, a realtor with Zoocasa in Hamilton. “While the area has historically had a bad reputation, with Barton Street running through the community, recent revitalizations in the neighbourhood have made it a hot spot for younger people looking to get into the market.
“When my clients ask me about the neighbourhood, the best way to describe it is that it has good bones. The homes are old and charming, and although many are in need of repair, it’s a great opportunity for buyers to get into a market where you can increase the value of your home.”
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Hamilton has undergone major changes in recent years, and Landsdale’s revitalization wouldn’t be the first neighbourhood to have new life breathed into it.
“We saw a similar transformation happen a few years ago in Hamilton along James Street North, where what used to be a tired and quiet commercial street has since become one of Hamilton’s trendiest areas for bars, restaurants and small shops,” Vanderzanden said. “This revitalization from James Street is beginning to creep up to Barton Village, and Landsdale will be the first neighbourhood to benefit from it. From a new charcuterie shop to a french creperie, the area is really changing.”