This Toronto house sold for $502,000 over asking after one day (PHOTOS)

It’s almost a given at this point that a house for sale in Toronto will go for over the asking price, but this Parkdale home that got scooped up after just one day on the market sold for $502,000 — a staggering 40% — over asking.

The house, located at 104 Lansdowne Avenue, is a four-bedroom, two-bathroom property that hit the market on April 14 with an asking price of $1,249,000. It sold the next day for $1,751,000.

Even though the house was listed below the area’s average, says Zoocasa agent Evelyn Anders, the final selling price being as high as it was was still surprising.

“Selling for a whopping $1,751,000 — $502K over the asking price — was likely unexpected,” Anders told Daily Hive.

To get the price to a full $502,00 over asking, the listing agent marketed the Toronto house with future development potential in mind.

“The listing agent did something very special to market this property beyond staging and photos: highlighting that the home qualifies under government regulations for future potential of independent laneway housing in their backyard,” Anders said.

“They even provided attachments in the listing for further regulatory information. This goes to show how important [it is to pick] a qualified agent that understands the true marketability of your property.”

The house having four bedrooms, a den, a finished basement, and two parking spaces makes it a fairly rare property for downtown, and the recent renovations and staging with beautiful modern furniture would have also certainly drawn buyers in.

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There is one drawback Anders notes, however, that any buyer would need to really consider: the street it’s located on.

“Some [buyers] might find the location a drawback,” Anders said. “It’s situated on a heavily trafficked street but in a popular transitioning neighbourhood between both Roncesvalles and Parkdale.”

But being in a heavily trafficked area does have its upsides too, namely being close to amenities and restaurants.

And until those restaurants and patios open back up again, this home’s buyer will be able to enjoy a drink or dinner in their nicely landscaped — and heavily paid for — new backyard.